This sweetener is the key ingredient in old-fashioned malted milkshakes. Malted milk powder delivers that distinctive malt taste to your baked goods. Try adding it to your pancakes and waffles for a classic "diner- style" sweetness. Founded in 1790, King Arthur is a 100% Employee-Owned Company and the nation’s premier baking resource, offering everything from top-quality baking products to inspiring recipes.