Market overview:
The barley market shares are expected to reach USD 23 billion by 2026, growing at a CAGR of 4.2% during the forecast period 2021-2026. Barley comes under the family of grass. It is versatile cereal grain crop that can be cultivated in temperature climates globally. Barley contains high amount of malt sugar that had wide applications in alcoholic and non-alcoholic beverages.
Recent developments:
- In May 2016, BASF launched fungicide Sistiva for seed treatment in Argentina. This can be used on wheat and barley that gives control for post-emergent disease for around 45days. This enhances the flexibility for the foliar application.
Market Drivers and Restraints:
Rising incidences of the chronic diseases like cardiovascular is majorly driving the demand of the market. Barley has several health benefits and growing awareness over the benefits is expanding the growth rate of the market. Along with this, Rising prominence from the food and beverages industry for various applications is propelling the demand of the barley market. Increasing demand for the production of alcohol with the rising consumption rate of alcohol across the globe is eventually ascribed to boost up the demand of the market.
However, lack of complete awareness over the advantages of the barley in applications is slightly hampering the growth rate of the market. Also, reduced supply chain is impeding the demand of the barley market.
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Report is segmented as:
By Grade, the barley market is segmented into Food Grade, Malt Grade, Pharmaceutical Grade, Feed Grade and Cosmetic Grade.
Based on End-User, the barley market is divided into pharmaceuticals, food & beverages, cosmetics, and personal care and others.
Geographical Segmentation:
Asia Pacific is leading with the dominant shares of the barley market. Growing population and their preference for the healthy lifestyle are leveraging the demand of the market. India and China are the major contributors for the market to grow tremendously. Barley has significant role in feed and natural food that is inclined to fuel the growth rate of this market in Asia Pacific.
North America is next to Asia pacific in holding the shares of the barley market. Growing awareness for the natural beverages to maintain healthy diet is expected to promote the growth rate of the market. Rising economy and increasing investments are also some factors for the market growth.
Europe is anticipated to have the highest CAGR in the coming years. Trend towards dietary supplements and nutritional content food & beverages are mainly to lavish the growth rate of the market.
Impact of COVID-19 on Barley Market
COVID 19 is deadly disease that distracted the global economy in unprecedented ways. Barley has many health benefits that is promoting the demand for the barley market during these tough times. In 2020, due to lockdown restrictions, industries were shut down for some period. Barley has many benefits in lowering the blood sugar levels where the demand for the barley surged due to this in the pandemic. Barley market shares to continue in the same flow in the coming years.
Key market players:
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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