By Felicia Nwosu

A recent analysis made available by Future Market Insights research platform revealed that the global malt beverage market size will accelerate to US$ 62.7 billion by 2033.

Showing a comparative analysis of the previous year, the research body indicated that it was estimated at US$ 32.7 billion in 2023, exhibiting growth at 6.7% CAGR between the forecast periods.

With a demonstration of optimism, the data showed that sales of malt beverages soared positively in the past few years, fuelled by various innovative infusions which have continuously transformed the global market scenario with the vision of creating health-conscious products for consumers. It maintained that, as more people become health-conscious, they’re turning to non-alcoholic malt beverages to get the same pleasure without alcohol. The report added that malt beverage market trends are on the rise and have been growing exponentially.

Projecting ahead of 5 years, the malt beverage market is expected to grow at a healthy CAGR. Major malt beverage market growth drivers include an increase in health-conscious consumers, as well as rising consumer preferences for organic malt beverage.

Future Market Insights also peeped into some of the constraints militating against the growth of the malt category which one of the major factors is the easy availability of substitutes with low sugar content.