The global malted milk market size was valued at USD 7.67 billion in 2024 and is projected to reach USD 10.92 billion by 2030, growing at a CAGR of 6.1% from 2025 to 2030. The market’s growth is primarily driven by the increasing consumer preference for nutritious and health-focused beverages, as malted milk provides essential nutrients, including vitamins, minerals, and proteins that support overall wellness.

Rising disposable incomes and shifting lifestyles have contributed to a higher demand for convenient and ready-to-drink products, making malted milk an attractive choice for health-conscious consumers. Additionally, the versatility of malted milk as an ingredient in a variety of recipes and desserts has further fueled its popularity, supporting market expansion. Manufacturers’ efforts to introduce innovative product offerings and implement effective marketing strategies have also helped attract a broader consumer base, enhancing market growth prospects over the forecast period.

A key factor driving demand is the growing awareness of healthy lifestyles, which has led manufacturers to emphasize natural ingredients in their products. Increased consumer understanding of the nutritional benefits of malted foods and drinks and the use of malted milk as a dietary supplement further supports market growth.

Changing food preferences due to hectic lifestyles, rapid urbanization, and industrialization are creating higher demand for bite-sized snacks, which often incorporate malted milk. Innovations in this segment, such as baked goods and malted milk powder-based cookies, are expected to boost product adoption further. Overall, the combination of nutritional benefits, convenience, innovative product formats, and evolving consumer lifestyles is expected to continue driving robust growth in the malted milk market through 2030.

Key Market Trends & Insights:

• In 2024, the North American malted milk industry held a considerable share of the global market, reflecting the region’s strong consumer demand for nutritious and convenient beverage products. The U.S. market, in particular, is expected to experience significant growth over the forecast period, driven by rising health awareness, increasing disposable incomes, and a strong preference for fortified and functional food products.

• By source, the wheat segment dominated the market in 2024, accounting for the largest revenue share of 63.6%. Wheat-based malted milk products are highly preferred due to their nutritional profile, taste, and versatility in various recipes and beverages, which has led to widespread consumer adoption.

• By type, the milk liquid segment led the market in 2024, capturing the largest revenue share. This segment’s dominance is attributed to the ease of consumption, convenience, and suitability for ready-to-drink formulations. Milk liquid malted products are particularly popular among consumers seeking quick, nutritious, and protein-rich beverages, contributing significantly to the overall growth of the North American malted milk industry.

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Market Size & Forecast:

• 2024 Market Size: USD 7.67 Billion

• 2030 Projected Market Size: USD 10.92 Billion

• CAGR (2025-2030): 6.1%

• Asia Pacific: Largest market in 2024

Key Companies & Market Share Insights:

Some of the key players in the global malted milk market include Nestlé, Unilever, Briess Malt & Ingredients, Imperial Malts Ltd., SSP Private Limited, Family Cereal Sdn. Bhd., and several others. These companies play a crucial role in shaping the market through innovative product offerings, strong distribution networks, and brand recognition, catering to the growing consumer demand for nutritious and convenient malted milk products.

Briess Malt & Ingredients, for example, provides a diverse portfolio of malted milk products, including Malted Milk Powder and Malted Milk Powder II. These products are highly valued for their rich, malty flavor and smooth, creamy texture, making them popular among both household consumers and food manufacturers. The powders are produced using high-quality malted barley and wheat flour and are formulated without artificial additives, preservatives, colors, or flavors, ensuring a natural and wholesome product. By emphasizing quality ingredients and authentic taste, Briess has established a strong presence in the malted milk segment and continues to appeal to health-conscious consumers and culinary professionals alike.

Overall, the market is characterized by product innovation, emphasis on natural ingredients, and the expansion of established players, which together drive growth and cater to evolving consumer preferences for nutritious and flavorful malted milk products.

Key Players

• Nestlé

• Unilever

• GSK plc

• Briess Malt & Ingredients

• Imperial Malts Ltd.

• SSP Private Limited

• Family Cereal Sdn. Bhd.

• Muntons Plc

• Food And Biotech Engineers India Private Limited

• Insta Foods

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Conclusion:

The global malted milk market is experiencing steady growth, driven by increasing consumer demand for nutritious and convenient beverage options. Key factors contributing to this growth include a rising preference for health-oriented drinks that offer essential nutrients such as vitamins, minerals, and proteins. The market is also benefiting from innovations in product offerings and marketing strategies, which are attracting a broader consumer base. Additionally, the expansion of the food processing and beverage industries is further fueling market growth.