Consumers from different parts of the globe are preferring infused alcohol drinks, as they are keen on tasting new alcoholic beverages. Additionally, rapid adoption of Western alcoholic beverages is a key factor contributing to the growing consumption of alcoholic drinks. These factors are significantly impacting the utilization of roasted wheat malt in alcoholic beverage production.
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The global roasted wheat market has witnessed steady growth over the past few years, and this growth trend is projected to continue throughout the forecast period of 2019-2029. With the market estimated to register a CAGR of 5.4% through 2029.
Key Takeaways of Roasted Wheat Market Study
- Europe and South Asia account for the largest demand for roasted wheat, attributed to the substantial demand for roasted wheat malt for the production of alcoholic beverages.
- Roasted wheat is majorly used in the production of various convenience food and snacks, owing to the changing eating habits consumers across the globe.
- Increasing popularity of plant-based diets provides a substantial thrust to the global roasted wheat market, as nutritious roasted wheat is used for the preparation of healthy as well as vegan snacks, especially meant for health-conscious consumers.
- The demand for organic roasted wheat is increasing across the globe, owing to rising demand for organic alcoholic beverages. The trend of natural and organic ingredients is also giving a boost to the use of organic roasted wheat in various food applications.
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Global Roasted Wheat Market: Competitive Landscape
Major players in the global roasted wheat market are broadening their product portfolios to cater end users from various industries. The demand for organic roasted wheat is increasing from alcoholic beverage manufactures. Thus, market players in the global roasted wheat market are collaborating with alcoholic beverage manufacturers, and this, in turn, is driving the growth of the global roasted wheat market. Key players are also focusing on offering industry-specific ingredients to their clients.
- For instance, Castle Malting uses a product diversification strategy to cater to a broader customer base. Its diverse product range comprising roasted wheat and malt products provides a distinct competitive advantage to the company. The company also focuses on offering roasted organic wheat products, as there are multiple brewers who are demanding organic ingredients to meet increasing consumer demand for organic food products.
In addition to this, market players are focusing on improving customer satisfaction to further strengthen their relationships with them. This provides a competitive advantage as it increases customer loyalty with the company.
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