United Kingdom: Malt Market 2024

Malt Market Size in the UK

After three years of growth, the UK malt market decreased by -8.4% to $X in 2022. In general, consumption, however, recorded a perceptible contraction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Malt Production in the UK

In value terms, malt production shrank to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2021 with an increase of 32%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Malt Exports

Exports from the UK

In 2022, the amount of malt exported from the UK totaled X tons, picking up by 3.8% compared with the year before. Overall, exports, however, recorded a mild decrease. The pace of growth appeared the most rapid in 2016 when exports increased by 15%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, malt exports stood at $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 15%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for malt exports from the UK, accounting for a 48% share of total exports. Moreover, malt exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), threefold. Belgium (X tons) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.0% per year) and Belgium (+4.6% per year).

In value terms, Japan ($X) remains the key foreign market for malt exports from the UK, comprising 43% of total exports. The second position in the ranking was taken by the United States ($X), with a 19% share of total exports. It was followed by Thailand, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.5% per year) and Thailand (-6.1% per year).

Export Prices by Country

In 2022, the average malt export price amounted to $X per ton, with an increase of 4.3% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, malt export price increased by +58.8% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 52% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Malt Imports

Imports into the UK

Malt imports into the UK soared to X tons in 2022, with an increase of 46% compared with the previous year. In general, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2013 when imports increased by 116% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, malt imports surged to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +9.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 103% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X tons), Ireland (X tons) and Sweden (X tons) were the main suppliers of malt imports to the UK, together accounting for 66% of total imports. Belgium, the Czech Republic, Finland, Lithuania and Poland lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +209.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest malt suppliers to the UK were Germany ($X), Sweden ($X) and Ireland ($X), together comprising 63% of total imports. Belgium, the Czech Republic, Finland, Lithuania and Poland lagged somewhat behind, together comprising a further 36%.

Finland, with a CAGR of +192.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average malt import price amounted to $X per ton, surging by 13% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 68%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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