Malted Milk Market Size, Share, Growth, and Industry Analysis, By Type (Malted Milk Drinks, Malted Milk Powders), By Application (Lactating Women, Pregnant Women, Children), and by Regional Insights and Forecast to 2033

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MALTED MILK MARKET OVERVIEW

The malted milk market size was valued at approximately USD 5.01 billion in 2024 and is expected to reach USD 6.8 billion by 2033, growing at a compound annual growth rate (CAGR) of about 3.1% from 2025 to 2033.

Malted milk is a dairy drink made from a blend of malted barley, wheat flour, and whole evaporated milk. It is a special drink that has several nutrients like valuable vitamins, minerals, and proteins, and anyone from any profession can enjoy it. More and more people crave malted milk, as they order stronger and healthier milk products. With people giving more concern to health, they opt for healthy products with good taste. Made from powder or liquid preparation, malted milk meets the requirements of various consumers. Malted milk is used in milkshakes, candies, cakes, and infant food, illustrating its place in the culinary world. Many kids and sports players use malted milk because it gives energy and is a great source of protein, which helps recover muscles and improves overall health. Several things are creating demand for the expansion of the market, like the growing demand for convenient and healthy foods that are simple to digest. The increased demand for fortified foods and drinks, especially in developing countries, also enhances market growth. Moreover, more customers are familiar with the health benefits of malted milk, such as supporting digestive health through the use of natural enzymes, which encourages them to consume more. With new concepts and flavors developing, the market for malted milk is heading in a promising direction around the world.

COVID-19 IMPACT

"COVID-19 Disruptions and Their Impact on the Malted Milk Market"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic had an immense impact on the world's malted milk market. It primarily impacted the way companies handled their supply chains and produced products. With multiple lockdowns, fewer employees, and travel restrictions, manufacturers were unable to obtain necessary raw materials like barley, wheat, and milk components. The problems resulted in shortages as well as an increase in production costs, compelling companies to alter their pricing strategies and cope with operational problems. The temporary shutdown of processing facilities made it even more difficult for the market to expand, creating problems for manufacturers and distributors. This shift in what consumers sought resulted in more online shopping. Multiple brands employed e-commerce platforms and online marketing to maintain their market share. Although initial disruptions were not easy, the post-pandemic period has opened new avenues for market growth through improved online sales, creative product concepts, and enhanced malted milk with additional varieties fortified with various health benefits attracting health-conscious consumers globally.

LATEST TREND

"Growing Demand for Plant-Based Malted Milk Alternatives"

The increased amount of consumers are opting for plant-based products, transforming the malted milk market as consumers seek dairy-free and vegan options. Lactose intolerance, dietary restrictions, or important concerns regarding animal products affect many consumers has created a demand for plant-based malted milk products. Companies are producing new dairy-free malted milk powders made from soy, almond, oat, and other plant-based sources to cater to demand, providing a healthy and green alternative to conventional malted milk. These products seek to provide the creamy texture and health benefits of dairy-malted milk without being off-putting to health-conscious and vegan consumers. Flexitarian diets on the rise, as well as a growing concern for the environment, also fuel the trend. The volume of plant-based products on supermarket and online shelves is poised to attract more and more consumers and fuel market growth in the future, making plant-based malted milk a lucrative segment of the market.

MALTED MILK MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into Malted MilkDrinks, Malted MilkPowders

• Malted Milk Drinks - These drink products are made for easy consumption, providing an easy and healthy option for all ages. They are likely to be made with vital vitamins and minerals to increase health benefits, making them a consumer favourite for instant and healthy energy. The trend of functional beverages and flavoured malted milk drinks is also fuelling market growth.

• Malted Milk Powders - Instant and regular malted milk powders are available. They have wide applications in beverages, bakery, candies, and baby food. Malted milk powders are popular among consumers because of their strength and ease of preparation. In addition, companies are creating new varieties that are fortified and plant-based to satisfy changing customer needs, which fuels the growth of this segment.

By Application

Based on application, the global market can be categorized intoLactating Women, Pregnant Women, and Children.

• Lactating Women - Malted milk is generally prescribed for lactating women, known for its high nutritional content. It is a significant source of assistance in stimulating milk secretion and boosting energy. Rich in calcium, iron, and basic vitamins, it helps the mother during the postpartum period of recovery and provides healthy nourishment during lactation.

• Pregnant Women - Pregnant women generally turn to malted milk for its excellent nutritional values, which are essential for the baby's development and the mother's wellbeing. Folic acid, iron, and DHA-enriched types have gained popularity as they help counteract pregnancy problems and provide overall wellness.

• Children - In children, malted milk is a favorite source of nutrition, providing the necessary nutrients for proper growth. Generally mixed with milk, cereals, and snacks, it becomes a tasty and healthy addition that stimulates bone development and improves mental sharpness. The popularity of flavored malted milk drinks is particularly high among children, indicating a consistent demand in this demographic.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities, and challenges stating the market conditions.

Driving Factors

"Consumers are aware of the health benefits"

Greater awareness of just how healthy malted milk is has been a major driver of the malted milk market growth. More and more individuals view malted milk as a healthy beverage that is rich in protein, calcium, vitamins, and minerals. This awareness makes it extremely attractive to children, pregnant women, and lactating mothers. Dietitians and health professionals prescribe malted milk more because it assists in bone development, boosts the immune system, and provides energy. This consumer awareness has not only expanded the malted milk market but has also encouraged companies to develop new and healthier products to address changing diet needs.

"Increased locations to buy online and offline."

Increased online shopping and retailing have significantly enhanced Malted Milk Market share sales. Bulk stores, supermarkets, and online food stores have made malted milk products readily available to all. Since the pandemic, most individuals have preferred online shopping because they enjoy home delivery and special online deals. Online stores allow brands to reach new customers in other locations, which is expanding the malted milk market and enabling companies to reach rural and city consumers.

Restraining Factor

"High Sugar Content and Health Issues"

High sugar in regular malted milk products has been one of the major reasons restricting the Malted Milk Market growth. As a result of worrying about obesity, diabetes, and health-related factors, consumers are very cautious about their consumption and drinking habits. Many consumers are going for low-sugar or sugar-free drinks, which is detrimental to the sales of regular malted milk products. The companies have realized this and are trying to reformulate by introducing low-calorie, healthful, organic, and naturally sweetened malted milk products to the health-conscious person while simultaneously staying abreast of the market.

Opportunity

"New Ideas in Product Formulation"

The Malted Milk Market share has much room for growth, thanks to new ideas in product formulation. New flavors, organic malted milk, and fortified malted milk products are hoped to bring more consumers. Companies are spending to enhance taste and texture while keeping nutritional considerations in mind, hoping to entice health-oriented and treat-oriented consumers. Moreover, the introduction of plant-based malted milk products for vegan and lactose-intolerant consumers opens new means of profits and further growth of the malted milk market.

Challenge

"Fluctuations in Raw Material Prices"

The unstable price of raw materials such as barley, wheat, and milk is the largest threat to companies. Global warming, supply chain, and inflation create fluctuating costs of production, which in turn affect profit margins and prices directly. Trade tariffs and global circumstances may also slow down ingredient supply, impacting the overall market size of the malted milk market. To address this threat, companies are searching for substitute raw materials, developing a close relationship with raw material suppliers, and streamlining the production process to reduce costs and produce sustainably.

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MALTED MILK MARKET REGIONAL INSIGHTS

• North America

North America is on the rise with its malted milk markets; it is blending in with an increased health consciousness and a constant demand for fortified dairy products in its population. The largest market in the region is the United States Malted Milk Market since most of the population likes nutrient-fortified drinks, and the trend in the region also supports plant-based consumption.

• Asia-Pacific

Asia-Pacific is the fastest-growing region. India and China are the largest consumers. A high birth rate, an emerging middle class in this region, and increased awareness regarding children's nutrition are allowing the market to boom. As a result of this advancement, sales are maximized through a large base of manufacturers and an extended retail sphere.

• Europe

The European market is growing steadily, with the UK, Germany, and France being the key contributors. More consumers require organic and clean-label malted milk products, requiring healthier beverages. The market is also driven by the growth of vegan alternatives, especially in Western Europe.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Innovation and Market Expansion"

The market for malted milk is highly competitive because many large companies look for new ideas and strategies for growth. many beverage and food companies are investing heavily in developing healthy recipes for malted milk that will attract many buyers. additionally, companies produce various products by incorporating vitamins, minerals, and plant extracts to satisfy the increasing demand for healthy beverages. Dairy and nutrition companies use research to improve the health benefits of malted milk and make it a leading dietary supplement. In addition, popular brands that consumers love are still the leading market players, while new companies trade in organic, sugar-free, and plant-based products to keep up with changing food habits. Increased online sales and retail outlets aided these leaders in performing well in reaching the global market effectively.

List Of Top Malted Milk Market Companies

• Nestle [Switzerland]
• GSK (GlaxoSmithKline) [United Kingdom]
• Ovaltine (owned by Associated British Foods) [United Kingdom]

KEY INDUSTRY DEVELOPMENT

October 2023: Nestlé wanted to grow its malted drink products in emerging markets, especially Southeast Asia. Nestlé launched a new formula for malted milk which included vitamins and minerals with health-conscious consumers in mind. The move also included sourcing sustainable malt ingredients and launching new eco-friendly packaging. The company invested heavily in enhancing its plant to keep up with the demand for malted milk products in the market.

REPORT COVERAGE

The report offers a detailed analysis of the global malted milk market, including market trends, segmentation, competition, and regional data. The study identifies key market drivers, challenges, and opportunities which will help to analyze the market.