Increasing Use of Barley Malt for Production of Alcoholic Beverages to Open New Avenue for Barley Producers, States TMR
The report by Transparency Market Research (TMR), titled “Barley Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,” presents a comprehensive study of this market considering the key market trends and growth prospects.
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According to the report, the global market for barley has been mainly led by the escalating demand for barley malt for the production of alcoholic beverages. It further states that the soaring demand for convenience food products has also influenced this market positively in the recent times. Additionally, the rising trend of clean label is likely to increase the application of barley in the food and beverage industry, creating growth opportunities for market players in the near future.
On the other hand, the growing awareness regarding healthy living has encouraged people to cut down their alcohol consumption, impacting the demand for barley malt. As a result, the overall demand for barley is being hampered. Apart from this, the market is also being hindered by the declining barley yield due to depletion of arable land, infestation of pests and weeds, and the drastic changes in the climate, notes the study.
Broadly, the study has analyzed the worldwide market for barley on the basis of its regional spread, grade, product type, application, and cultivation. North America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific excluding Japan, and the Middle East and Africa have been identified as the key regional markets for barley in this research report.
Among these, Asia Pacific led the overall market with Australia emerging as the key producer of barley across the world and China as its prime trading partner. Apart from China, Australia also exports huge volumes of barley to Japan, Saudi Arabia, Kuwait, and the UAE.
Based on grade, the report has segmented the market into feed grade, food grade, and malt grade. By product type, the market has been classified into hulless barley, covered barley, two-row barley, and six-row barley.
On the basis of cultivation, the market has been categorized into organic and inorganic. Application-wise, animal feed, food and beverages, pharmaceuticals, and nutraceuticals have been identified as the key segments of this market in the research study.
The research report has also presented an analysis of the competitive landscape of the global market for barley by profiling companies in order to determine the prevalent market hierarchy. Grain Crop Ltd., Crisp Malting Group, Malteurop Group, Ireks GmbH, Axereal Group, Cargill Inc., Global Malt GmbH & Co. KG, Muntons Plc., and Soufflet Group are the key companies functional in this market, reports the study.