Abstract: A process for preparing a dried malted beverage product. The process comprises: a) mixing together solid and liquid constituents of the beverage product in a single vessel so as to form a mixture; b) subjecting the mixture in the vessel to heat at a lowered pressure so as to effect drying and granulation of the mixture and form the dried malted beverage product; and c) discharging the dried malted beverage product from the vessel. The process is carried out in a single vessel for mixing, drying and granulation. Suitable solid constituents include one or more selected from malt extract powder, maltodextrin, cocoa powder, milk powder/dairy creams, whey powder, salt, flavours, natural colours and mixtures thereof. Suitable liquid constituents include one or more selected from water, malt extract, caramelised sugar syrup, natural colours, flavours, soya lecithin, maltodextrin, and mixtures thereof.