Barley is widely used in brewing beer, distilled beverages, and as animal feed. It provides essential nutrients and fiber. The sprouted barley is known to improve digestive health and lower cholesterol levels. It is also a rich source of antioxidants, vitamins, and minerals that are beneficial for heart health. The increasing focus on healthy beverages is driving the demand for barley in Latin American countries.
The global Latin America Barley Market is estimated to be valued at US$ 3.44 Bn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for healthy beverages is a major trend in the Latin America barley market. Barley is used in the production of various healthy drinks like barley water, barley tea, and others. These drinks are known to aid digestion and provide other health benefits. With rising health consciousness, consumers are shifting their preferences towards beverages perceived as healthy options. This growing demand for healthy beverages will augment the growth of the barley market in Latin American countries over the forecast period.
SWOT Analysis
- Strength: The Latin American region has been characterized by long experience and tradition in barley growing and malting. The region possesses favorable climatic conditions suited for high yield barley cultivation.
- Weakness: Limited technological advancement and outdated farming equipment in some countries have resulted in low productivity and inefficiencies. Heavy dependence on weather conditions also makes yields unpredictable at times.
- Opportunity: Growing demand for craft beer driven by changing lifestyles and rising disposable incomes present an opportunity to increase barley production and exports. Emerging economies with rising population could further stimulate market growth over the coming years.
- Threats: Threat of substitute crops expanding to barley cultivating areas. Vulnerability to climate change effects like erratic rainfall patterns also pose risks over the long run.
Key Takeaways
The global Latin America Barley market is expected to witness high growth over the forecast period of 2023 to 2030. The global Latin America Barley Market is estimated to be valued at US$ 3.44 Bn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030
Regional analysis: The Latin American region contributes significantly to global barley production led by countries like Argentina and Brazil. Argentina is currently the largest producer and exporter of barley in the Latin America region benefiting from suitable climate in major cultivating provinces.
Key players: Key players operating in the Latin America Barley market are Grain crop Limited, Malteurop Group, Soufflet Group, Crisp Malting Group, Global Malt Gmbh & Co. Kg, Ireks Gmbh, Muntons Plc, Maltexco S.A., Grain Millers, Inc, EverGrain, Malt Products Corporation, and Briess Malt & Ingredients Co. They are focusing on capacity expansions and innovations to cater to the rising demand.