Description
Malt usually consists of germinated
cereal grains such as barley. These grains are softened by steeping them in
water and are later dried in hot air, which allows the grains to germinate.
This process is called as ‘malting’. It allows the conversion of starch content
within the grain to sugars such as glucose and fructose. Alternatively, it can
be used for flavoring. The different types of products made using malt include
malted milk, malt bread, and malt beverages such as beer, whiskey, and
non-alcoholic beverages.
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Malt can be grouped into two
categories based on its function, namely diastic and nondiastic. Diastic malt
contains active enzymes which break starch into sugars. It is mainly used in
baking goods such as breads and bagels due to the superior texture, taste, and
the nutrition that it imparts to baking goods. Nondiastic powder does not
contain any active enzymes, thus, there is no conversion process involved. It
is commonly used in drinks for flavoring.
Since malt is used in the production
of alcoholic beverages, the increasing global demand for beer has a direct
effect on the malt market. The primary reason for the growing market for beer
is the increasing disposable income of people. The growing acceptance of beer,
coupled with increasing influence of western values in developing regions of
Asia-Pacific is indirectly driving the malt market in this region. There is an
increasing demand for malt in the baking goods industry with restaurants
already using it in their production.
One of the major restraints of this
market is the high price volatility of barley. This in turn affects the prices
of beer, whiskey, and other products in which malt is used. Moreover, the
global recession in the recent years also affected the malt market due to the
less disposable income of consumers which resulted in lowered demand for
alcoholic beverages. Furthermore, the growing popularity of wine is a threat to
the malt market. Increasing awareness about the health benefits of wine is
resulting in the shifting of consumer preference to this drink.
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