North America: AB InBev estimated to account for 28% of North America’s total malting capacity

North America’s malting landscape consists of a mix of integrated vertical brewer-maltsters and commercial malting companies, RMI Analytics said in their early April report.

Similar to its leadership in the region’s beer production, AB InBev holds top place in terms of malting capacity, at 28% of the region’s total, the analysts said. Next in line are commercial maltsters like United Malt Group (recently in the news with an InVivo/Soufflet approach to buy), Rahr, and Malteurop, with integrated Molson Coors and Heineken rounding out the major players. The rest of NAMEX consists of smaller maltsters focusing mostly upon specialty malt production and craft brewing supply.

The total regional malt demand for brewing is estimated at circa 3.7 mln along with another 0.4 mln for distilling, food, and exports outside North America. This results in a need for imported malt which is mainly destined for Mexico, the Caribbean, and specialty malts in the US and Canada.

In terms of malt utilization rate for NAMEX, it remains one of the higher levels globally, approaching 96% by 2026. There has been some volatility in the utilization rate from closures of maltings in the US (e.g. Spiritwood, Milwaukee), offset by capacity additions (e.g. Malteurop in Mexico). Without further capacity expansion, the RMI analysts expect further increases in Mexico’s imports of malt. The Caribbean is exclusively an import model, with Europe the main malt source.

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