A considerable rise in the number of microbreweries being set up across the globe is stimulating the growth in consumption of specialty malts - a key ingredient for making alcoholic beverages such as beer. Innovations in brewing techniques have further consolidated the application of specialty malts in production of flavored alcoholic beverages.

A new research report from Future Market Insights reveals that the global market for specialty malts, which is currently valued at an estimated US$ 2.16 billion, is expected to soar at a steady CAGR of 6.4% and bring in revenues worth over US$ 4 billion by 2026 end.

When it comes to consuming flavored alcoholic beverages, consumers in Western European countries such as Germany, France or Belgium will certainly not shy away. With respect to production, the demand for specialty malts will register stellar growth in the Asia-Pacific excluding Japan (APEJ) region. The APEJ specialty malts market will register the highest value CAGR of 7.8%, and procure over US$ 1 billion revenues during the projected period. North America and Latin America are anticipated to account for a collective share of more than 24% in global specialty malts revenues through 2026.

With more than 10% share in global revenues, Cargill Incorporated will retain its title as the largest producer of specialty malts in the world. With its manufacturing plants based in Germany, the company will also boost the status of Western Europe in the global specialty malts market.

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