Rising consciousness among consumers towards health along with increasing awareness about benefits of malted food drinksto drive global malted food drinks market through 2024
New Delhi, June 10, 2019: According to TechSci Research report, “Global Malted Food Drinks Market ByType, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2014-2024”,global malted food drinks market is projected to reach $ 16.4 billion by 2024,on account ofrising awareness and demand for healthy food along with increasing health consciousness among people, especially young population. Moreover, considerable shift in demand paradigm towards ready-to-drink products with smaller packsexpected is further likely to boost demand for malted food drinks during forecast period. Some of the leading players in global malted food drinks market are GlaxoSmithKline plc, Nestlé S.A., Mondelēz International, Inc., Abbott Laboratories, Associated British Foods Plc, Zydus Wellness Limited, Danone S.A., Cytosport Inc., Continental Milkose (India) Ltd., CTL Foods, Inc., etc.
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On the basis of distribution channel, global malted food drinks market has been categorized intopharmacies/drug stores, supermarkets/hypermarkets, departmental/grocery stores, internet/online retail and others. Of these, supermarkets/hypermarketsaccounted for the majority market share in 2018 and is likely to maintain its dominance during forecast period as well. However, internet/online retail segment is anticipated to register the highest growth during 2019-2024, owing to growing popularity of e-commerce market that provides a wider distribution reach to manufacturers.
Among regions, Middle East & Africa region is expected to grow at the fastest rate in global malted food drinks market during forecast period on account of increasing urban population, rising concerns about children undernourishment and growing awareness about leading a healthy lifestyle. Nigeriais the major market for malted food drinks in the Middle East & 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.
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“Global malted food drinks market is expected to witness a promising growth during forecast period owing to gradually shifting consumer preferences along with rising inclination towards flavored powder drinks, especially malt-based drinks that fulfil daily requirement of nutrients.Moreover, increasing working population across the globe has led to 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. Furthermore, increasing focus on innovation in flavors and packaging of malted food drinks by the major malted food drink manufacturers is anticipated to positively influence the marketover the course of next five years.”said, Mr. Karan Chechi Research Director with TechSci Research, a research-basedglobal management consulting firm.
According to TechSci Research “Global Malted Food Drinks Market ByType, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2014-2024” has evaluated the future growth potential of global malted food drinksmarket and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global malted food drinks market.
Corporate Comm India(CCI Newswire)
