Technavio market research analysts forecast the global barley marketto grow at a CAGR of 5% during the period 2018-2022, according to their latest report.
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Technavio has published a new market research report on the global barley market from 2018-2022. (Graphic: Business Wire)
This market research report segments the global barley market by application (food and beverage and other barley applications) and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the launch of packaged food and beverages that contain barley as a key factor contributing to the growth of the global barley market:
Launch of packaged food and beverages that contain barley
New product development, improved taste, and versatility, as well as high levels of marketing support, will increase the demand for barley-based food and beverage offerings in the market. The food and beverage market has witnessed a rise in the number of new product launches in the past few years, and many of these product offerings use barley as an ingredient.
According to a senior analyst at Technavio for food research, "The forecast period is expected to witness an increase in the number of manufacturers launching product offerings that contain barley. Manufacturers include barley as an ingredient to entice consumers who are looking for packaged food and beverages with nutritional benefits."
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Global barley market segmentation analysis
Of the two major applications, the food and beverage application dominated the global barley market with a market share of over 64% in 2017, especially for alcoholic beverages and animal feed. However, it is expected that the overall usage for this cereal grain in other applications like personal care products, pharmaceuticals, and others would increase during the forecast period.
In 2017, the global barley market was dominated by EMEA with a revenue share of close to 46%, followed by the Americas and APAC. EMEA's growth rate can be attributed to the high consumption of alcoholic beverages and other packaged foods that use barley malt and other barley varieties as ingredients.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20180316005886/en/
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