Malted Milk Market Analysis

Malted Milk Market Analysis

Powdered malted milk segment held USD 893 million in 2023 and it is anticipated to expand at an 6.7% of CAGR during 2024-2032. Powdered malted milk stands out as the most favored type, lauded for its versatility and extended shelf life. It's widely utilized in households and commercial venues, including bakeries and foodservice establishments, both as a beverage base and an ingredient in diverse recipes. This product resonates with consumers prioritizing convenience, especially in regions where climatic conditions necessitate ambient storage.
 

Conversely, liquid malted milk is surging in popularity, thanks to its ready-to-drink nature, catering to urban consumers' fast-paced, on-the-go nutritional needs. This trend is notably strong in North America and Europe, where busy lifestyles amplify the demand for convenient food choices. Flavored malted milk is witnessing dynamic growth, spurred by innovations in flavors like chocolate, vanilla, and fruit blends.
 

The malted milk market from beverage segment was valued at USD 694.8 million in 2023 and garner a 6.9% CAGR from 2024 to 2032. Beverages led the pack, buoyed by the appeal of malted milk drinks as nutritious energy boosters for all ages. This segment's growth is further propelled by the rising trend of functional beverages, positioning malted milk as a health-centric drink.
 

In confectionery, malted milk enhances flavors in chocolates and candies, tapping into consumers' nostalgic tastes. This segment sees steady growth, especially in regions with high confectionery demand. Bakery products also prominently feature malted milk, enhancing both flavor and nutritional value. This is especially true for artisanal and specialty bakeries that prioritize unique flavors and wholesome ingredients. The infant formula segment, while specialized, is on the rise, fueled by the demand for fortified nutrition for young ones.
 

The malted milk market from supermarkets and hypermarkets segment were valued at USD 856.8 million in 2023 and garner a 6.4% CAGR from 2024 to 2032. Supermarkets and hypermarkets dominate, thanks to their expansive reach, varied product selections, and the allure of one-stop shopping, especially in urban locales where consumers favor multi-item purchases. Convenience stores are pivotal, particularly for liquid malted milk, addressing the immediate needs of customers seeking quick purchases. Online retail is rapidly gaining traction, spurred by e-commerce's rise and evolving shopping habits, especially among millennials and Gen Z who favor home delivery and a broader product exploration.
 

North America malted milk market is expected to hold a USD 656.5 million in 2023 and expected to grow at a 6.6% CAGR. North America's market boasts a robust presence, featuring both time-honored and cutting-edge products. The primary drivers of demand include the widespread love for malted milkshakes and related confectionery items. Furthermore, mirroring the region's overarching health and wellness movement, there's an increasing inclination towards plant-based and low-sugar alternatives.