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Barley Market size was valued at USD 50.93 million in 2023 and is anticipated to register a CAGR of over 3.6% between 2024 and 2032, led by increasing demand for animal feed, barley's nutritional value makes it a crucial ingredient in livestock and poultry diets, and as global meat consumption continues to rise, particularly in emerging economies, the demand for animal feed, including barley, has grown significantly.
Additionally, the craft brewing industry has also played a pivotal role in driving the barley market's growth. Barley is an essential ingredient in beer production, and the demand for high-quality barley from craft brewers has surged, contributing to increased barley sales, particularly among specialty barley varieties used for brewing.
The beverage segment is set to witness 3.8% CAGR till 2032, due to the rising popularity of craft beers.
The malted barley segment held over 25.25% of the revenue share in 2022, attributed to rising demand for craft beer and whiskey.
Barley industry size reached USD 50.93 million in 2023 and is estimated to expand at over 3.6% CAGR from 2024 to 2032 driven by the increasing need for animal feed in livestock and poultry diets.
Some of the leading firms engaged in the industry include Soufflet Group, GrainCorp Limited, Cargill, Boortmalt Group, Malteurop Groupe, Crisp Malting Group, Muntons Plc, Maltexco S.A., Grain Millers Inc, Malt Products Corp, and Bries Malt & Ingredients Co.