Malted Milk Global Market Insights 2025, Analysis and Forecast to 2030, by Manufacturers, Regions, Technology, Application, Product Type

Malted Milk Market Summary

Introduction and Market Overview

Malted milk, a powdered or liquid product made from malted grains, is a key nutritional beverage for children and health-conscious consumers. With 150 million children globally facing nutritional deficiencies, malted milk products like Milo and Horlicks address these needs, particularly in Asia Pacific. The global functional beverage market grew 8% in 2023, boosting demand for vitamin-rich malted milk. Nostalgic brands like Horlicks appeal to older consumers, while e-commerce platforms, with a 9% beverage sales growth in 2024, enhance accessibility. The global malted milk market is estimated at USD 4.0-7.0 billion in 2025, with a CAGR of 5%-9% through 2030, driven by nutritional trends and e-commerce expansion.

Regional Market Trends

 Asia Pacific: Dominates with strong demand in India, Malaysia, and Vietnam, driven by children’s nutrition programs.

 North America: The U.S. and Canada focus on health-oriented malted milk products.

 Europe: The UK and Germany see demand for nostalgic and functional beverages.

 Rest of the World: Brazil and Nigeria expand due to growing middle-class consumption.

Application Analysis

 Milk Liquid: Expected growth of 5.5%-9.5%, popular for convenience and ready-to-drink formats. Trends focus on fortified formulations.

 Milk Powder: Projected growth of 4.5%-8.5%, favored for long shelf life and versatility in recipes.

Type Analysis

 Wheat: Anticipated growth of 5%-9%, valued for its flavor in traditional products.

 Barley: Expected growth of 5.5%-9.5%, preferred for health-focused beverages.

 Others: Projected growth of 4.5%-8.5%, including rice-based options for dietary needs.

Key Market Players

 Nestlé: Offers popular malted milk brands like Milo.

 Unilever: Markets Horlicks for nutritional needs.

 GSK: Provides health-focused malted milk products.

 Briess Malt & Ingredients: Supplies high-quality malt ingredients.

 Muntons: Specializes in malted products for beverages.

Porter’s Five Forces Analysis

 Threat of New Entrants: Low, due to high production costs and brand loyalty.

 Threat of Substitutes: Moderate, with alternatives like plant-based milks competing.

 Bargaining Power of Buyers: Moderate, due to diverse brand options.

 Bargaining Power of Suppliers: Low, with abundant grain suppliers.

 Competitive Rivalry: High, with brands competing on nutrition and flavor.

Market Opportunities and Challenges

Opportunities:

 Addressing nutritional needs of 150 million children globally.

 Leveraging 8% functional beverage market growth.

 Capitalizing on nostalgic brand appeal.

 Benefiting from 9% e-commerce beverage sales growth.

 Innovating with fortified and plant-based options.

Challenges:

 Competition from plant-based milk alternatives.

 High production and marketing costs.

 Regulatory scrutiny on nutritional claims.

 Limited awareness in emerging markets.

 Supply chain disruptions affecting raw material supply. Show more