IMARC Group, a leading market research company, has recently releases report titled “Barley Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032″, The study provides a detailed analysis of the industry, including the global barley market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the barley market?
The global barley market size reached US$ 23.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 31.8 Billion by 2032, exhibiting a growth rate (CAGR) of 3.49% during 2024-2032.
Factors Affecting the Growth of the Barley Industry:
- Changing consumption patterns and dietary shifts:
One of the primary factors driving the barley market is the evolving patterns in consumer preferences and dietary habits. Barley has gained significant attention due to its nutritional value and versatility in various food and beverage (F&B) products. As global awareness of health and wellness continues to rise, consumers are increasingly seeking wholesome and nutritious food options such as barley, offering a rich source of dietary fiber, vitamins, and minerals. In line with this, the global shift towards plant-based diets as consumers become more conscious of the environmental impact of their food choices is strengthening the market growth.
- Global climate and agricultural practices:
Climate change is another essential factor influencing the growth of the barley market. Regions traditionally known for barley cultivation may experience shifts in their agricultural suitability due to changing climatic conditions. This could potentially alter the global distribution of barley production, impacting both quantity and quality. As a result, advancements in agricultural technologies and practices play a crucial role in shaping the barley market. Innovations in breeding techniques, pest control, and irrigation methods contribute to improving yields and resilience against environmental challenges, providing an impetus to the market growth.
- International trade dynamics and economic factors:
Another factor bolstering the growth of the barley market is the implementation of favorable global trade policies and economic conditions. In line with this, the interconnectedness of the global economy and supply chains enhancing the accessibility of barley across various regions is presenting lucrative growth opportunities for the market. Additionally, economic factors such as inflating disposable income levels of consumers, allowing consumers to explore and adopt diverse food options, including those featuring barley, are positively impacting the market growth.
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What are the growth prospects and trends in the barley industry?
Barley’s rich nutritional profile, including beta-glucans and antioxidants, has attracted attention from the pharmaceutical industry for its potential benefits in developing functional and health-enhancing supplements, creating a positive outlook for market expansion. In confluence with this, the increasing adoption of sustainable agricultural practices and the rising demand for organic and non-genetically modified organism (GMO) barley products as consumers become more environmentally conscious is contributing to the market growth. Furthermore, the increasing popularity of barley as a key ingredient in plant-based meat alternatives due to its protein-rich composition and its ability to mimic the texture of the meat is propelling the market forward, with an increasing number of individuals preferring vegetarian and vegan protein sources.
Who are the key players operating in the industry?
The report covers the major market players including:
- Briess Malt & Ingredients Co
- Cargill Incorporated
- Crisp Malting Group
- EverGrain LLC (Anheuser-Busch InBev)
- Grain Millers Inc.
- GrainCorp Limited
- IREKS GmbH
- Malt Products Corporation
- Malteurop Groupe S.A. (VIVESCIA)
- Maltexco S.A, Muntons PLC
- The Soufflet Group
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Covered
- Two-Row Barley
- Six-Row Barley
- Hulless
Breakup by Grade:
- Food Grade
- Feed Grade
- Malt Grade
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Departmental Stores
- Specialty Stores
- Online Stores
Breakup by Industry Vertical:
- Food and Beverages
- Pharmaceuticals
- Seed Industry
- Personal Care
- Animal Feed
- Nutraceuticals
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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