Malted milk formulation includes whole milk powder, malted grain flour and other ingredients. Commercially, malted milk is available in a powdered form and is usually sold in a combination of different flavors. In addition to its consumption as malted milk, powdered form of malted milk finds extensive application in the food industry. In particular, bakery and snacks producers are prominent end-users of malted milk powders owing to its health benefits.
Application of malted milk in the food processing industry is also popular as it delivers a combination of sweetness and a creamy mouthfeel. Currently, malted milk marketplace is witnessing the introduction of flavored and innovative variants in attractive packaging solutions. While the malted milk market forecast seems optimistic, incidences of false health claims have significantly impacted the sales of malted milk products and are likely to influence the reputation of market players.
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Malted Milk Market – Notable Developments
Some of the key players in the malted milk market are Imperial Malts Ltd., Muntons plc, Briess Malt & Ingredients, Insta Foods, SSP Pvt Limited, Family Cereal Sdn. Bhd., Nestlé S.A., Food & Biotech Engineers India Private Limited and King Arthur Flour Company, Inc.
- In February 2019, Horlicks, a hot beverage brand launched the company’s original malted milk in a pod format with an aim to meet evolving consumer demand.
- In March 2019, Nestle Thailand launched new MILO No Sucrose Chocolate malt-based ready-to-drink product.
- In January 2019, Full Sail Brewing launched Malted Milkshake-Style IPA in the packaging of six bottles, each of 12 ounces.
- In 2017, Nestle S.A. expanded its product portfolio of malted milk with the introduction of ready-to-drink malted milk in India under the brand Milo through its Indian subsidiary.
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Malted Milk Market Dynamics
A Combination of Chocolate and Malt to Flourish in Malted Milk Market
While demand for flavored milk has spurred over the past decade, a similar trend can be witnessed in the malted milk landscape. Chocolate remains the most popular flavor among consumers and the combination of chocolate and malt is highly embraced not only in the field of malted milk but also in snacks such as biscuits. As manufacturers continue to accommodate evolving consumer demand, the malted milk marketplace is witnessing the introduction of different flavored malted milk products especially a combination of chocolate flavored malted milk.
Buoyancy in Health Drinks Industry Alludes at Profitability for Malted Milk Market Players
Consumers are becoming conscious about their purchase owing to extreme penetration of the health and wellness trend. In addition to focusing on health labels, health drink producers are also emphasizing on the natural origin of the ingredients used in their product. These activities are driving sales in the health drinks market. As malted milk is also categorized under health drinks, malted milk market players are likely to observe profitability in the coming years.
Increasing Consumption of Snacks to Fuel Malted Milk Market Growth
Across the globe, urbanization and industrialization have significantly impacted the meal consumption patterns and snacking routines of consumers. As consumers are becoming time-pressed, preference for bite-sized snacks has increased significantly. Well aware of these demand trends, packaged snacks manufacturers are focusing on expanding their portfolio of bite-sized snacks which include malted milk powder. Innovations by manufacturers have led to the introduction of malted milk powder cookies and other baked products. As malted milk occupies an important position in the healthy snacks landscape, changing consumer lifestyle combined with the increased snacks production is likely to fuel the growth of malted milk market during the forecast period.
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Malted Milk Market – Regional Outlook
Despite its origin in North America and Western Europe, demand for malted milk has grown significantly in the Asia Pacific region. In the countries of Asia Pacific, a growing focus on health consciousness is the major driver for the growth of malted milk market. Demand for malted milk has witnessed a prominent rise over the past half a decade on the backdrop of rising disposable income combined with a significant population of millennial. Well aware of this, leading brands in the malted milk market are engaged in expansion of their footprints in Southeast Asian countries.