The global malt beverage market is projected to grow significantly over the next decade, increasing from USD 7.4 billion in 2024 to an estimated USD 17.5 billion by 2034, driven by rising incomes and shifting consumer preferences.
Significant Growth Expected in Global Malt Beverage Market
Newark, Delaware — The global malt beverage market is projected to see substantial growth in the coming decade, with market valuation poised to rise from USD 7,375.6 million in 2024 to an estimated USD 17,465.6 million by 2034, representing a robust compound annual growth rate (CAGR) of 9%.
One of the primary drivers behind this growth is the increasing disposable income among the global working population, a trend that has prompted significant changes in social habits and consumer preferences. As individuals have more money to spend, the demand for bars, restaurants, and alcoholic drinks has surged, with malt beverages becoming particularly popular among socialites and bar patrons.
Interestingly, a shift in consumer preference towards craft beer and unique malt beverage formulations has been observed. This has provided significant opportunities for smaller-scale breweries and establishments, as enthusiasts move away from mainstream flavours in favour of more distinctive options.
The trend extends to non-alcoholic beverages as well. A growing segment of consumers who enjoy the taste of malt but prefer non-alcoholic versions is reshaping market dynamics. Projections suggest that non-alcoholic beer sales could exceed USD 45 billion by 2033, prompting many manufacturers to diversify their product lines to include non-alcoholic variants.
The movement towards organic products is another facet gaining traction in the malt beverage industry. Consumers increasingly seek out natural products, and manufacturers are responding by introducing organic malt drinks.
Urbanisation, particularly in countries such as China and India, is also playing a crucial role in expanding the market. The migration to urban areas is fostering a higher consumption rate of malt beverages as the demand for urban entertainment options rises.
A range of factors fuels the demand for malt beverages. These include population growth, urbanisation, higher disposable incomes, and evolving consumption patterns. Moreover, the popularity of ready-to-eat products and the continual innovation of malt beverages, including the development of hybrid and crossover products, are further driving market growth.
Regional Dynamics
Europe remains a significant market for malt beverages, with France leading due to its high consumer density. In the Asia-Pacific region, Taiwan ranks second in demand. Market expansion is influenced by the growing preference for organic drinks, leading manufacturers to introduce novel beverages with various flavours to capture consumer interest.
Italy and Spain are notable for their projected robust growth rates, with expected CAGRs of 10.6% and 10.3%, respectively, over the next decade. The United Kingdom is also anticipated to see substantial market growth, at a CAGR of 9.1%.
Competitive Landscape
The market is competitive, with smaller companies increasingly challenging industry giants. Major players are focusing on online presence and product innovation to capture market share. Prominent companies include Danone SA and Nestle SA.
Recent developments in the sector include the February 2024 launch of Bruichladdich Eighteen and Bruichladdich Thirty single malts by Rémy Cointreau, representing a push towards premium product offerings.
Outlook
The malt beverage industry appears well-positioned for future growth, driven by rising incomes, changing consumer preferences, and ongoing urbanisation. By focusing on these evolving trends, manufacturers and distributors can expect a thriving market in the coming years.
Ultimately, the expansion of both alcoholic and non-alcoholic malt beverages signifies a broader acceptance and integration of these products into the global beverage market, promising a dynamic and evolving landscape.