The global Malted Milk Market size was estimated at USD 7,670 million in 2024 and is projected to reach USD 12,478.3 million in 2031 at a CAGR of 7.2 % during the forecast period 2025-2031.
The malted milk market refers to the production and consumption of milk-based beverages and powders that are flavored with malt extract. Malted milk is made by blending malted barley, wheat flour, and milk, which is then processed into a powder or liquid form. The beverage has been popular for many years, particularly as a nutritional supplement and comfort food. It is commonly consumed as a warm or cold drink, and its mild, sweet flavor and energy-boosting properties have made it a favorite among both children and adults.
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The scope of the malted milk market is broad, encompassing different product forms such as powdered malted milk, ready-to-drink beverages, and malty flavoring agents used in snacks and desserts. It is consumed in a variety of regions, with particular popularity in North America, Europe, and parts of Asia. The demand for malted milk products has been driven by their association with childhood nostalgia, their perceived health benefits, and their use as an ingredient in several food products. The market also includes the growing trend of convenience, with ready-to-consume drinks gaining popularity among busy consumers who seek quick, nutritious options.
Recent Developments
- In September 2024, Boeing entered into a partnership with Sagar Defence Engineering to collaborate on the production of unmanned vehicles. This agreement underscores Boeing’s commitment to expanding its presence in the Indian market while supporting the development of advanced unmanned systems. It is part of broader efforts to promote innovation and foster technological collaboration between the US and India in the defense and aerospace sectors.
- In May 2024, Textron Systems, a division of Textron Inc., teamed up with Kodiak Robotics, Inc., a leader in autonomous driving technology, to develop a fully autonomous military ground vehicle. This initiative involves integrating Kodiak’s advanced self-driving system, the Kodiak Driver, into a prototype military vehicle designed by Textron Systems specifically for driverless operations.
- In April 2024, IAI signed a memorandum of understanding (MoU) with Aerotor Unmanned Systems to advance unmanned aerial system (UAS) technologies. IAI will leverage its expertise in aviation and unmanned platforms, while Aerotor will contribute its Apus multicopter, which features a central heavy-fuel propulsion system and a variable-pitch mechanism.
- Also in April 2024, Insitu, a subsidiary of Boeing, received an $84.47 million contract modification from NAVAIR (US) for the ScanEagle and RQ-21A UAV programs. The contract includes the procurement of six RQ-21A UAVs and 20 ScanEagle UAVs, along with associated equipment, training, and technical support services. The work will primarily take place in Bingen, Washington, with an expected completion date of June 2026.
Prominent 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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Asia Pacific to Dominate the Market
- Asia Pacific's malted milk industry held a dominant position in the global market with the largest revenue share of 38.1%. This dominance is driven by the region's expanding population and rising disposable incomes, which have increased demand for nutritious and convenient food and beverage options. The cultural importance of malted milk drinks in countries like India, where they are consumed both as health drinks and enjoyable snacks, also plays a significant role.
- The North American malted milk industry maintained a notable share. The region’s robust retail infrastructure and the expanding availability of malted milk products in supermarkets, convenience stores, and online platforms have supported market growth. The influence of Western dietary habits and an increasing preference for natural and organic products also contribute to this expansion.
The Malted Milk Market Segmentation:
Based on Source
· Wheat
· Barley
· Others
Based on Type
· Milk Liquid
· Milk Powder
Based on region:
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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