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Everyone is well aware of the fact that consumers’ concern and interest towards their diet has increased many fold. A shift in focus towards natural wellbeing and healthier living has pushed the demand for natural food ingredients.
India’s malted food drinks market is projected to reach $ 1.76 billion by 2023, backed by multiple increase in demand for malt-based drinks. Numerous benefits of MaltExtract including malted wheat flour, and natural malt sweeteners along with malted milk and malted milk powder have increased their popularity.
The reasons for this hype and the expected boost in sales of malted milk food and drinks in coming years are may be Growing awareness about health benefits of malted food drinks, increase in working population, and growing organized retail & e-commerce sectors. Moreover, increasing penetration in rural areas and rising demand for innovative flavors are also expected to aid the country’s malted food drinks market over the course of coming years.
Key Factors Moulding Malted Milk Powder Market
Sturdy Development of the Bakery Industry
With the growing popularity of functional baking ingredients, the consumption of cakes, pastries and other baked items are increasing gradually, and the bakery industry is showing no signs of slowing down.
The Malt Extract powder is used to add a distinctive flavor to baked items and is also used in baking to help dough cook properly. The increasing demand for malted milk powder is from its good mouthfeel and sweetness, which can be blended with other flavoring products such as cocoa, vanilla and other natural flavors to gain desired taste and enhanced properties. As the consumers’ interest is turning towards nutritional baked products , the Malted Milk Food Manufacturers are also trying their best to suit consumers' dietary and innovating products so as to be able to stand ahead of the competition.
Consumers Turning to Healthy Products
In recent years, because of many reasons people have started to take health into consideration over taste. And if they can get both the things together, it's like a cherry on the cake. That is why there is an increase in demand for convenience yet healthy food products are bringing meal replacement shakes and ready to use supplementary food in the market. Malted Milk food third party manufacturers are thus focusing on exploring untapped application potential of their products.
Increasing Demand in Developing Countries
There is a definite increase in demand for Malted Milk Powder in developing countries like India. Changes in different factors like Changing lifestyles, increased disposable income, and shift from eating at home to dining out, in the view of expanding workforce and rising number of single households in developing countries, are bringing significant changes in the F&B industry. A shift toward all-day snacking to replace traditional meals and a spike in the number of quick-serve and casual dining restaurants in these countries have led to realignment of manufacturers’ strategies.
Rapid Growth in Sales via Modern Trade and E-commerce Channels
In this busy world people want everything at their arms’ length. And it is not only about the easy access of food to consume but is also about the wide range of products available. That is why rather than using the traditional methods, key players in the malted milk food market are focusing on new strategies to capitalize on new retail formats. Manufacturers are further focusing on different sources of malted milk powder, given consideration to the rise of lactose and gluten intolerance among a growing number of consumers.
Malted Milk Food manufacturing is increasing tremendously which is also leading to an increase in Malt Extract contract manufacturing. Moreover, increasing penetration in rural areas and rising demand for innovative flavors are also expected to aid the country’s malted food drinks market over the course of next five years.