The global malted milk products market was valued at USD 12.5 billion in 2022 and is expected to expand at a CAGR of 6.7% from 2023 to 2030. Malted milk is a powdered food product made from a mixture of malted barley, wheat flour, and evaporated whole milk. It is a nutritious food product and is used as an ingredient in various bakery and confectionery products such as biscuits, cookies, and cakes. Malted milk is also used in the production of milkshakes, malted hot drinks, and malted coffee. It is gaining popularity due to its rich flavor, high content of vitamins and minerals, and various health benefits.

The increasing demand for malted milk products such as malt-based beverages and confectionery is due to the rising health consciousness among consumers. Consumers are shifting toward natural and organic products and are increasingly opting for malted milk products as they contain natural ingredients. Furthermore, the rising trend of premiumization has led to the launch of premium malted milk products in the market. For instance, in August 2021, Diageo launched a new variant of its Baileys Irish Cream Liqueur, the Baileys Malted Milk. This product consists of a blend of Baileys, malt, and cocoa, with a hint of caramel.

The increasing consumption of breakfast cereals is also driving the growth of the malted milk products market. Malted milk is used as an ingredient in breakfast cereals to enhance the flavor and nutrition. Furthermore, the growing demand for food convenience is driving the demand for malted milk products. For instance, the availability of ready-to-eat breakfast cereals is expected to increase the consumption of malted milk products.

In addition, the rising demand for malted beverages among the younger population, especially in urban areas, is expected to fuel the market growth. Furthermore, the growing number of health-conscious consumers, who are increasingly opting for fortified and healthy food and beverage products, is driving the market. To cater to this demand, many market players are launching innovative products with natural ingredients. For instance, in April 2021, Nestlé launched a new malt-based beverage, Milo UHT, with natural ingredients such as cocoa, malt, and milk.

Moreover, the increasing demand for malted milk products in the food service sector is expected to boost the market growth. Furthermore, the growing popularity of malted milk products such as malt-based drinks and malt-based baked goods is expected to drive the market growth in the coming years.

The malted milk powder segment dominated the market, generating a revenue of USD 2.7 billion in 2019. The increasing demand for malted milk powder for various applications such as food, beverages, and dietary supplements is the major factor driving the growth of the segment. Malted milk powder is rich in vitamins, minerals, and proteins, which makes it a popular choice among health-conscious consumers. Additionally, the growing demand for malted milk powder-based beverages, such as milkshakes, smoothies, and health drinks, is further fueling the segment growth.

The malted milk drinks segment is anticipated to expand at the fastest CAGR of 8.2% during the forecast period. The increasing consumption of malted milk drinks due to its various health benefits is driving the growth of the segment. According to an article published by the National Institutes of Health, in April 2020, the consumption of malted milk drinks can help reduce the risk of chronic illnesses such as type 2 diabetes, obesity, and cardiovascular diseases. In addition, the availability of flavored malted milk drinks such as chocolate, strawberry, and vanilla is further propelling the segment growth.

The supermarkets and hypermarkets segment accounted for the largest market share of around 32.2% in 2022. Supermarkets and hypermarkets are the major distribution channels for malted milk products. Consumers prefer to buy products from supermarkets and hypermarkets due to the availability of a wide variety of products and brands. Furthermore, supermarkets and hypermarkets offer convenience to consumers in terms of purchasing malted milk products.

The online segment is expected to expand at the highest CAGR of 12.2% over the forecast period. The growth of the online segment is attributed to the increasing adoption of e-commerce platforms among consumers. Consumers are shifting their preference towards online platforms due to their convenience and the availability of discounts, offers, and rewards. Moreover, the growing trend of online shopping due to the increasing penetration of the internet and rising number of smartphone users have further boosted the growth of the online segment.

The malted milk powder segment accounted for the largest revenue share of 75.7% in the year 2022. The increasing demand for healthy, convenient and versatile food products has increased the demand for malted milk powder. Malted milk powder is high in protein, vitamins, and minerals and can be used as a beverage, a spread, or an ingredient in baked goods. Furthermore, manufacturers are launching new products that can be used in various recipes, such as malted milk powder with cocoa powder, which is used as an ingredient in chocolate-flavored beverages. This is further driving the segment growth.

The malted milk drink segment is expected to expand at a CAGR of 8.2% over the forecast period. This can be attributed to the increasing popularity of malted milk drinks among health-conscious consumers. Moreover, manufacturers are launching new products to attract new customers, such as malt-free malted milk drinks, which are low in calories and contain no added sugar. This is likely to drive the growth of the segment in the future.

The Asia Pacific region is expected to witness the fastest growth in the coming years. The growth of the regional market is attributed to the increasing demand for malted milk products in countries such as Japan, China, India, and South Korea. An increasing number of health-conscious consumers in the region is driving the demand for malted milk products, as they are fortified with essential vitamins and minerals. Furthermore, the rising disposable income of consumers in the region has enabled them to spend more on premium malted milk products. For instance, in February 2021, Nestlé India launched its MAGGI Nutri-Licious range, which includes malted milk drinks.

North America is expected to witness steady growth in the coming years. The presence of significant players, such as Nestlé and General Mills, is expected to drive the growth of the region. Furthermore, the rising popularity of malted milk products among health-conscious consumers is expected to drive the growth of the market in North America. For instance, in January 2021, General Mills launched its new cereal brand, Oats & More, which contains malted milk granola.

In this part of the malted milk products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your malted milk products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for a malted milk products business comes from the sale of its products to retailers, distributors, and directly to consumers. Other sources of revenue include sales of promotional items, services related to the product, and royalties from licensing agreements.

Projecting Expenses

In this section, all the regular expenses related to keeping the malted milk products business running will be described. The list of operating expenses includes raw materials, wages, marketing and advertising, utilities, packaging, shipping costs, and others.

Some of the key companies operating in the malted milk products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In May 2022, Nestlé launched the KITKAT Chunky MALTED MILK, a new flavor of the world-renowned KITKAT chocolate bar.

– In June 2022, Cadbury launched the MALTESERS Reindeer, a seasonal limited edition malted milk product.

– In August 2022, Mars, Inc. launched the MALTESERS Teasers, a new range of malted milk chocolate treats.

Some of the prominent players in the malted milk products market include:

– Nestlé
– Mars, Inc.
– Cadbury
– Toblerone
– Milka
– Ferrero
– Mondelēz International
– Hershey
– Wrigley
– Lindt & Sprüngli AG

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global malted milk products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Hot Malted Milk
– Instant Malted Milk
– Malt Extracts
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Regular
– Organic

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Major Drivers of the Malted Milk Products Market?
[A]: The growing demand for malted milk products due to its health benefits, such as improved digestion, higher energy levels, and improved immune system, is expected to drive the market. Additionally, the rising awareness among consumers regarding the importance of a balanced diet is also driving the malted milk products market.

[Q]: What are the Key Opportunities for Market Players?
[A]: The rise in health consciousness among the global population, along with the increasing demand for healthy and nutritious food products, has led to an increase in the consumption of malted milk products. This has created a lucrative opportunity for market players to expand their product portfolio and capitalize on the rising demand.

[Q]: Who are the Key Players in the Malted Milk Products Market?
[A]: The leading players in the malted milk products market include Nestle, The Kraft Heinz Company, Unilever, Quaker Oats Co., Premier Nutrition Corporation, Glanbia plc, The Kroger Co., and Abbott Nutrition.

[Q]: How is the Market Expected to Grow in the Coming Years?
[A]: The malted milk products market is expected to witness a significant growth over the forecast period. This is attributed to the increasing demand for nutritious and healthy food products, rising health consciousness among consumers, and the growing popularity of malted milk products in various food and beverage categories.

[Q]: What are the Key Regions for Malted Milk Products?
[A]: The key regions for malted milk products include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to be the largest market due to the increasing demand for healthy food products and rising awareness of health benefits associated with malted milk products.