|
You can get e-magazine links on WhatsApp. Click here
|
|
|
Malted food drinks market to surpass $16.4 billion by ’24, finds study
|
Thursday, 06 June, 2019, 08 : 00 AM [IST]
|
|
According to a report titled Global Malted Food Drinks Market By Type, By Distribution Channel, By Region, Competition, Forecast and Opportunities, 2014-2024, by research-based global management consulting firm TechSci Research, the global malted food drinks market is projected to reach $16.4 billion by 2024, on account of the rising awareness and demand for healthy food along with increasing health consciousness among people, especially the young population.
Moreover, a considerable shift in demand paradigm towards ready-to-drink products with smaller packs is expected. This is further likely to boost demand for malted food drinks during the forecast period.
Some of the leading players in global malted food drinks market are GlaxoSmithKline plc, Nestlé S A, Mondelez International, Inc, Abbott Laboratories, Associated British Foods Plc, Zydus Wellness Limited, Danone S A, Cytosport Inc, Continental Milkose (India) Ltd, CTL Foods, Inc, etc.
On the basis of distribution channel, the global malted food drinks market has been categorised into pharmacies/drug stores, supermarkets/hypermarkets, departmental/grocery stores, Internet/online retail and others.
Of these, supermarkets/hypermarkets accounted for the majority market share in 2018, and is likely to maintain its dominance during the forecast period as well.
However, the Internet/online retail segment is anticipated to register the highest growth between 2019 and 2024, owing to growing popularity of the e-commerce market that provides a wider distribution reach to manufacturers.
Among regions, the Middle-East and Africa region is expected to grow at the fastest rate in the global malted food drinks market during the forecast period on account of the increasing urban population, rising concerns about children’s undernourishment and the growing awareness about leading a healthy lifestyle.
Nigeria is the major market for malted food drinks in the Middle-East and Africa region. Rising child population and acceptance of malt based food drinks as nutritional supplements in the country are few of the major factors contributing to the growing demand for malted food drinks market growth.
“The global malted food drinks market is expected to witness a promising growth during the forecast period owing to the gradually-shifting consumer preferences along with rising inclination towards flavoured powder drinks, especially malt-based drinks that fulfill the daily requirement of nutrients,” said Karan Chechi, research director, TechSci Research.
“Moreover, increasing working population across the globe has led to the rising demand for convenience food and beverages, thereby further fueling demand for malted food drinks that also come in smaller packs for on-the-go consumption,” he added.
“Furthermore, increasing focus on innovation in flavours and packaging of malted food drinks by the major malted food drink manufacturers is anticipated to positively influence the market over the course of the next five years,” Chechi said.
According to TechSci Research, Global Malted Food Drinks Market By Type, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2014-2024 has evaluated the future growth potential of the global malted food drinks market and provided statistics and information on the market size, structure and future market growth.
The report intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, it also identified and analysed the emerging trends, along with essential drivers, challenges and opportunities in the global malted food drinks market.
|
|
|
|
|
|
|