Barley Market Size, Share, Industry Trends, Analysis and Forecast 2024-2032
The barley market is expected to reach US$ 31.8 Billion by 2032, exhibiting a growth rate (CAGR) of 3.49% during 2024-2032.
ST. BROOKLYN, NY, USA, June 18, 2024 /EINPresswire.com/ -- IMARC Group, a leading market research company, has recently releases report titled โBarley Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032โณ, The study provides a detailed analysis of the industry, including the global barley market size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the barley market?
The global barley market size reached US$ 23.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 31.8 Billion by 2032, exhibiting a growth rate (CAGR) of 3.49% during 2024-2032.
๐ฅ๐ฒ๐พ๐๐ฒ๐๐ ๐๐ผ ๐๐ฒ๐ ๐๐ต๐ฒ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.imarcgroup.com/barley-market/requestsample
Factors Affecting the Growth of the Barley Industry:
Government Initiatives and Subsidies:
Government initiatives and subsidies in major barley-producing countries play a crucial role in bolstering the global barley market. These policies are designed to support farmers and enhance agricultural productivity. In countries like the United States, Canada, Australia, and the European Union, governments provide financial assistance, technical support, and research and development funding to barley farmers. These subsidies help reduce the cost of production, making barley cultivation more economically viable. Additionally, governments often implement crop insurance schemes to protect farmers from potential losses due to adverse weather conditions or market fluctuations. By stabilizing income and providing a safety net, these initiatives encourage more farmers to invest in barley cultivation. Furthermore, government-sponsored programs aimed at improving agricultural infrastructure, such as irrigation systems and storage facilities, enhance overall barley production efficiency.
Growing Trend of Organic Farming:
The growing trend of organic farming is another significant driver of the global barley market. As consumers become increasingly health-conscious and environmentally aware, the demand for organic products, including barley, is on the rise. Organic farming practices avoid the use of synthetic fertilizers, pesticides, and genetically modified organisms (GMOs), appealing to consumers seeking natural and sustainable food options. This shift in consumer preference has led to a surge in the cultivation of organic barley. Organic barley is particularly popular in health food products and specialty diets, such as gluten-free and plant-based diets, where it is valued for its high nutritional content and absence of chemical residues. The premium prices that organic barley can command in the market also incentivize farmers to adopt organic farming methods. Additionally, organic farming practices are supported by various certification bodies and government programs that offer incentives and technical assistance to farmers transitioning to organic agriculture.
Increasing Application in Biofuel Production:
The increasing application of barley in biofuel production is a notable driver of the global barley market. Barley is emerging as a valuable feedstock for biofuel production due to its high starch content, which can be converted into ethanol, a renewable energy source. The push for alternative energy sources to reduce carbon emissions and reliance on fossil fuels has led to greater investment in biofuel technologies. Barley-based ethanol production is particularly attractive because it can utilize non-food-grade barley, including lower-quality grains that are not suitable for human consumption. This not only provides an additional revenue stream for barley farmers but also contributes to the overall sustainability of barley cultivation. Furthermore, the biofuel industry benefits from government policies and subsidies aimed at promoting renewable energy sources, which further boosts the demand for barley as a biofuel feedstock. Research and development in the field of biofuels are continually improving the efficiency of barley ethanol production, making it more cost-effective and environmentally friendly.
What are the growth prospects and trends in the barley industry?
The global barley market is influenced by several key drivers that shape supply, demand, and pricing dynamics, such as agricultural factors such as weather conditions, including temperature, rainfall, and drought, significantly impact barley production levels in major producing regions like Europe, North America, and Australia. In line with this, shifts in consumer preferences and dietary trends towards healthier food choices, including the increasing demand for craft beer and malt-based beverages, drive the consumption of barley and its derived products. Furthermore, the livestock feed industry plays a crucial role as barley is a major component of animal feed, particularly for poultry, swine, and cattle, thereby affecting demand patterns. Fourth, government policies and regulations related to agriculture, trade, subsidies, and tariffs influence the market's overall dynamics and trade flows.
Who are the key players operating in the industry?
The report covers the major market players including:
โข Briess Malt & Ingredients Co
โข Cargill Incorporated
โข Crisp Malting Group
โข EverGrain LLC (Anheuser-Busch InBev)
โข Grain Millers Inc.
โข GrainCorp Limited
โข IREKS GmbH
โข Malt Products Corporation
โข Malteurop Groupe S.A. (VIVESCIA)
โข Maltexco S.A, Muntons PLC
โข The Soufflet Group
๐ฆ๐ฝ๐ฒ๐ฎ๐ธ ๐๐ผ ๐๐ป ๐๐ป๐ฎ๐น๐๐๐: https://www.imarcgroup.com/request?type=report&id=7318&flag=C
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
โข Covered
โข Two-Row Barley
โข Six-Row Barley
โข Hulless
Covered represented the largest segment due to its versatility and widespread use in various applications such as animal feed, brewing, and food processing.
Breakup by Grade:
โข Food Grade
โข Feed Grade
โข Malt Grade
Malt grade represented the largest segment owing to its high demand in the brewing industry and its essential role in producing malt-based beverages.
Breakup by Distribution Channel:
โข Supermarkets and Hypermarkets
โข Departmental Stores
โข Specialty Stores
โข Online Stores
Supermarkets and hypermarkets represented the largest segment due to their extensive reach, convenience, and ability to offer a wide variety of barley-based products to consumers.
Breakup by Industry Vertical:
โข Food and Beverages
โข Pharmaceuticals
โข Seed Industry
โข Personal Care
โข Animal Feed
โข Nutraceuticals
โข Others
Food and beverages represented the largest segment due to the widespread use of barley in food products such as cereals, bread, and snacks, as well as its prominent role in the brewing industry for producing beer and malt beverages.
Market Breakup by Region:
โข North America (United States, Canada)
โข Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
โข Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
โข Latin America (Brazil, Mexico, Others)
โข Middle East and Africa
Europe was the largest market for barley due to its long history of barley cultivation, established brewing traditions, and high consumption rates of barley-based products across various industries within the region.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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