Barley is a type of cereal grain mainly cultivated in temperate climate region and is the fourth largest cereal grain in the worldwide after rice, wheat, and corn. It is mostly used in soups, bread, and stews however it is mainly grown as animal fodder and as a source of malt for the alcoholic, particularly for beer. The vitamin is highly rich in minerals, vitamins, and other important nutrients. It is available in various forms such as hulled barley, barley grits, flakes, and flour. Moreover, it is rich in molybdenum, fiber, manganese, and selenium and also contain enough amounts of vitamin B1, chromium, copper, magnesium, phosphorus, and niacin.
The Latin America barley market was estimated to account for US$ 1.6 Billion in terms of value and 14,584.8 kilo tons in terms of volume in 2018 and is anticipated to grow at a CAGR of 3.5% during the forecast period (2019-2027).
Rising health awareness regarding the health benefits of barley among consumer of Latin America is predominantly fueling the growth of Latin America Barley market growth. Barleys claims to have various health benefits such as it helps in reducing weight loss, manages cholesterol level, and promote healthy digestion of the food. Furthermore, it also helps to reduce heart risk and protect against diabetes by improving insulin levels in the blood. Hence, the aforementioned health benefits associated with the consumption of barley is expected to fuel market growth.
Increasing usage of barley in cosmetic products is expected to fuel the growth of the Latin America barley market. Barley extract derived from plant are claim to contain a substantial amount of phenols which are known to offer anti-oxidant property and this property is beneficial for skin as it helps skin against harmful bacteria present in the environment. Therefore, rising usage of barley in the cosmetic product is expected to fuel the growth of the barley Latin American market.
Shortage of barley grain due to poor harvest is expected to negatively impact the market growth of Latin America over the forecast period. According to Coherent Market Insights analysis in March 2016, owing to a poor harvest in most malt grain-producing regions of the world, beer, bakery and pharmaceutical industries are beginning to face a shortage of grains required for malting. In April 2016, Empresas Polar – Venezuela's largest brewer – closed its factory due to supply shortages of imported barley.
On basis of grade, in 2018, malt grade accounted the largest market share of 42% in terms of volume, followed by food grade and feed grade, respectively. This is mainly due to surge in demand for malt grade barley in beverage industry for production of alcoholic and non-alcoholic beverages.
Increasing the launch of value addition in feed products by the manufacturer is expected to propel the growth of the Latin America Barley market. For instance, In April 2016, Nestle Purina launched Beyond – a premium dry dog food made with natural ingredients This consists of two sub-brands- Simple (and superfood blend with three recipes including lamb with whole barley, chicken with whole barley and superfood salmon, oats and sweet potato. Hence, the rising demand for value addition barley product is expected to fuel the market growth.
Increasing seed innovation in barley is am major trend that has been observed in the region which is expected to propel the market growth of barley over the forecast period. Ongoing various research and seed treatment organization are producing varieties in barley the seed that is claimed to have higher beta-glucan content and beta-glucan can help in regulating lower cholesterol levels in the blood. For instance, in May 2016, BASF launched fungicide Sustiva for seed treatment on wheat and barley in Argentina. Sustiva provide around 45 days of control for post-emergent diseases of the crop, which allows farmers more flexibility for the foliar application.
Key players operating in the market are Grain crop Limited, Malteurop Group, Soufflet Group, Crisp Malting, Global Malt Gmbh & Co. Kg, Ireks Gmbh, Muntons Plc, Maltexco S.A., Grain Millers, Inc, EverGrain, Malt Products Corporation, and Briess Malt & Ingredients
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