DUBLIN--(BUSINESS WIRE)--The "In Vitro Diagnostics (IVD) Quality Control Market by Source (Serum, Whole Blood, Urine), Application (Immunoassay, Hematology, Microbiology), Type (Independent Controls, Original Equipment Manufacturers), End User (Hospital, Lab) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global malt extracts and ingredients market is estimated to be valued at USD 17.6 billion in 2020 and is projected to reach USD 20.4 billion by 2025, recording a CAGR of 3.0%.
Malt extracts are useful for various applications in the food & beverage industry, which is increasing their demand among manufacturers. Also, their stable demand from breweries is also contributing to the growth of this market.
The barley segment is projected to be the largest segment in the malt extracts and ingredients market during the forecast period.
Barley, being one of the primary sources of beer in the brewing industry, is dominating the market. There is an upsurge in demand for beer among the youth in the Asia Pacific region, which is why the major players are looking to expand their capacities to meet the demand. Also, the increase in the production and export of barley has contributed to market growth. The reintroduction of microbreweries and home-based beers is one of the major factors contributing to the growth of the market share for barley.
The dry form segment is dominant in the malt extracts and ingredients market.
Manufacturers prefer the dry form more than the liquid form of malt extracts and ingredients. The dry form is easy to handle. Also, the cost of storage and transportation associated with it is lower than that of the liquid form of ingredients. This makes the final cost of the products lower. Therefore, brewers prefer the dry form of malt ingredients, which include powders and flakes. The shelf life of the dry form is also more than that of the liquid form, which is one of the reasons why manufacturers prefer the dry form of malt extracts and ingredients.
Asia Pacific is estimated to account for the largest market share.
Currently, the Asia Pacific region is the dominating market for malt extracts and ingredients. The high population and increase in the purchasing capacity have enabled consumers to invest in luxury foods. The rise in recreational activities has increased the market for beer production, which is the primary application of malt extracts and ingredients. The growth of the market can also be attributed to the various uses of malt-based foods such as bread, cookies, and confectionaries.
- Increasing Number of Accredited Clinical Laboratories
- Growing Adoption of Third-Party Quality Controls
- Rising Demand for External Quality Assessment Support
- Increasing Prevalence of Chronic and Infectious Diseases
- Additional Costs and Budget Constraints in Hospitals and Laboratories
- Unfavorable Reimbursement Scenario for IVD Tests
- Rising Demand for Multi-Analyte Controls
- Stringent Product Approval Process
- Lack of Regulations for Clinical Laboratory Accreditation in Several Emerging Countries
- Bio-Rad Laboratories
- Randox Laboratories
- Thermo Fisher Scientific
- Roche Diagnostics
- Helena Laboratories
- SeraCare Life Sciences
- SERO AS
- Ortho Clinical Diagnostics
- Sun Diagnostics
- Quidel Corporation
- Technopath Clinical Diagnostics
- Abbott Laboratories
- Danaher Corporation
- Sysmex Corporation
- Siemens Healthineers
- Fortress Diagnostics
- Zeptometrix Corporation
- Bio-Techne Corporation
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