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The value of the global hops market was $5.98 billion in 2022, and it is expected to increase to $14.14 billion by 2030, at a compound annual growth rate (CAGR) of 8.71% between 2023 and 2030.
Classification of Items
When broken down by product type, aroma hops are far and away the most popular. Citrus, flowery, herbal, and fruity notes are just some of the many scents and flavours that aroma hops may provide. Aroma hops are widely used by craft brewers and specialty beer manufacturers to generate distinctive and tasty beer characteristics that meet the ever-changing demands of their patrons. Aroma hops' market domination can be attributed in large part to the rising demand for unique flavours and the prevalence of the craft beer industry.
However, dual-purpose hops are the most rapidly expanding product kind. The aroma and bittering qualities of dual-purpose hops make them useful for brewers looking to strike a good flavour and scent balance in their beers. Brewers who want to simplify their ingredient procurement processes have shown a strong interest in these hops. Brewers can save time and effort when creating new beers by using a single hop type that serves as both a bittering agent and an aromatic component: the dual-purpose hop. The need for hops that provide a well-rounded sensory experience is driving the expansion of the dual-purpose hops market.
Methodology of Analysis Via Use
Hops are used in a wide variety of industries, although the brewing sector accounts for the largest share. Hops are an essential part in making beer because of their bitterness, flavour, and fragrance contributions. Hops demand is being fueled by the proliferation of craft beer and breweries around the world. Particularly in response to the growing demand for beers with interesting flavours and a more handmade feel, the number of craft and microbreweries has exploded in recent years. Hops play a crucial role in helping these breweries produce beers with unique flavours and aromas that appeal to their customers' varying preferences.
The pharmaceutical sector is the fastest-growing application area in the hops market. Hops are used in the manufacturing of herbal medications, dietary supplements, and sleep aids due to their long-recognized medical characteristics. Hop chemicals like humulones and lupulones have caught the attention of the pharmaceutical industry due to their antibacterial, anti-inflammatory, and sedative properties. The use of hops-based formulations as all-natural treatments for a wide range of medical issues is on the rise. The rising popularity of herbal remedies and nutritional supplements, as well as rising consumer interest in plant-based alternatives, have all contributed to a surge in hops' popularity in the pharmaceutical business.
There have been a number of significant growth drivers for the worldwide hops industry in recent years. Rising interest in beer styles such as craft beer and speciality beers is a key factor. Hops demand has increased as consumers show a greater penchant for beers with distinct scents and flavours and a readiness to try new beer varieties. Beer's health benefits are becoming more widely known, which has also contributed to the industry's expansion. Hops have seen an increase in demand from both the brewing and pharmaceutical industries as a result of studies showing their antioxidant and antibacterial capabilities. In addition, the hops market reacts to developments in hop farming techniques, the launch of novel hop products including hop extracts and hop oils, and the availability of different hop varieties. These developments have expanded the brewer's range of choice and flexibility in using hops in beer.
The hops industry, however, is not without its difficulties. Market expansion is hampered by factors such as the instability of hop prices brought on by supply-demand mismatches and environmental barriers to hop farming. As research and development into hop farming techniques, hop quality, and brewers' and consumers' ever-evolving needs continue, the hops market's future looks bright. Hops demand is predicted to rise steadily as the beer industry continues to diversify and flourish, spurred on by consumers' penchant for trying out new and interesting brews and by beer's widespread acceptance as a mainstream alcoholic beverage.
Drivers
Craft Beer and Other Unique Beers Are Becoming More Popular With Drinkers.
There has been a dramatic shift in customer tastes and preferences in recent years, necessitating a rise in the need for novel beer scents and flavours. Craft breweries and microbreweries have become increasingly important in the beer market because of their dedication to making beer in small batches employing unique hop characteristics. Brewers' increasing experimentation with different hop types to obtain specific flavours and fragrances in their products has led to a surge in demand for hops.
Restraints
Hop Costs That Seesaw
Factors such as climate, disease, and farming techniques all have an impact on hop production. Brewers face difficulties and higher production costs if the hop supply suddenly becomes scarce. Hop prices fluctuate wildly, which generates market uncertainty and can cut into the profits of both hop growers and breweries. In order to maintain a reliable supply chain and limit financial exposure, market participants must constantly track and respond to price changes.
Report Coverage
Global Hops research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Hops report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Hops competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Hops market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Hops market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Hops market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Yakima Chief Hops (US), Hopsteiner (US), Charles Faram & Co. Ltd. (UK), John I. Haas, Inc. (US), Barth-Haas Group (Germany), BSG CraftBrewing (US), Indie Hops (US), Hops Direct, LLC (US), Puterbaugh Farms (US), Hop Products Australia (Australia), Select Botanicals Group, LLC (US), Crosby Hop Farm (US), Hop Union (US), S.S. Steiner, Inc. (US), Gorst Valley Hops (US), Freestyle Hops (US), Hop Head Farms (US), Hop Revolution (New Zealand), Simply Hops (UK), Haas Agricultural Services (US).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Hops market based on the below-mentioned segments:
Global Hops Market, By Product Type
Aroma hops
bitter hops
dual-purpose hops
Global Hops market, By Application
Brewing
pharmaceuticals
cosmetics
Global Hops market, Regional Analysis
Classification of Items
When broken down by product type, aroma hops are far and away the most popular. Citrus, flowery, herbal, and fruity notes are just some of the many scents and flavours that aroma hops may provide. Aroma hops are widely used by craft brewers and specialty beer manufacturers to generate distinctive and tasty beer characteristics that meet the ever-changing demands of their patrons. Aroma hops' market domination can be attributed in large part to the rising demand for unique flavours and the prevalence of the craft beer industry.
However, dual-purpose hops are the most rapidly expanding product kind. The aroma and bittering qualities of dual-purpose hops make them useful for brewers looking to strike a good flavour and scent balance in their beers. Brewers who want to simplify their ingredient procurement processes have shown a strong interest in these hops. Brewers can save time and effort when creating new beers by using a single hop type that serves as both a bittering agent and an aromatic component: the dual-purpose hop. The need for hops that provide a well-rounded sensory experience is driving the expansion of the dual-purpose hops market.
Methodology of Analysis Via Use
Hops are used in a wide variety of industries, although the brewing sector accounts for the largest share. Hops are an essential part in making beer because of their bitterness, flavour, and fragrance contributions. Hops demand is being fueled by the proliferation of craft beer and breweries around the world. Particularly in response to the growing demand for beers with interesting flavours and a more handmade feel, the number of craft and microbreweries has exploded in recent years. Hops play a crucial role in helping these breweries produce beers with unique flavours and aromas that appeal to their customers' varying preferences.
The pharmaceutical sector is the fastest-growing application area in the hops market. Hops are used in the manufacturing of herbal medications, dietary supplements, and sleep aids due to their long-recognized medical characteristics. Hop chemicals like humulones and lupulones have caught the attention of the pharmaceutical industry due to their antibacterial, anti-inflammatory, and sedative properties. The use of hops-based formulations as all-natural treatments for a wide range of medical issues is on the rise. The rising popularity of herbal remedies and nutritional supplements, as well as rising consumer interest in plant-based alternatives, have all contributed to a surge in hops' popularity in the pharmaceutical business.
There have been a number of significant growth drivers for the worldwide hops industry in recent years. Rising interest in beer styles such as craft beer and speciality beers is a key factor. Hops demand has increased as consumers show a greater penchant for beers with distinct scents and flavours and a readiness to try new beer varieties. Beer's health benefits are becoming more widely known, which has also contributed to the industry's expansion. Hops have seen an increase in demand from both the brewing and pharmaceutical industries as a result of studies showing their antioxidant and antibacterial capabilities. In addition, the hops market reacts to developments in hop farming techniques, the launch of novel hop products including hop extracts and hop oils, and the availability of different hop varieties. These developments have expanded the brewer's range of choice and flexibility in using hops in beer.
The hops industry, however, is not without its difficulties. Market expansion is hampered by factors such as the instability of hop prices brought on by supply-demand mismatches and environmental barriers to hop farming. As research and development into hop farming techniques, hop quality, and brewers' and consumers' ever-evolving needs continue, the hops market's future looks bright. Hops demand is predicted to rise steadily as the beer industry continues to diversify and flourish, spurred on by consumers' penchant for trying out new and interesting brews and by beer's widespread acceptance as a mainstream alcoholic beverage.
Drivers
Craft Beer and Other Unique Beers Are Becoming More Popular With Drinkers.
There has been a dramatic shift in customer tastes and preferences in recent years, necessitating a rise in the need for novel beer scents and flavours. Craft breweries and microbreweries have become increasingly important in the beer market because of their dedication to making beer in small batches employing unique hop characteristics. Brewers' increasing experimentation with different hop types to obtain specific flavours and fragrances in their products has led to a surge in demand for hops.
Restraints
Hop Costs That Seesaw
Factors such as climate, disease, and farming techniques all have an impact on hop production. Brewers face difficulties and higher production costs if the hop supply suddenly becomes scarce. Hop prices fluctuate wildly, which generates market uncertainty and can cut into the profits of both hop growers and breweries. In order to maintain a reliable supply chain and limit financial exposure, market participants must constantly track and respond to price changes.
Report Coverage
Global Hops research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Hops report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Hops competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Hops market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Yakima Chief Hops (US), Hopsteiner (US), Charles Faram & Co. Ltd. (UK), John I. Haas, Inc. (US), Barth-Haas Group (Germany), BSG CraftBrewing (US), Indie Hops (US), Hops Direct, LLC (US), Puterbaugh Farms (US), Hop Products Australia (Australia), Select Botanicals Group, LLC (US), Crosby Hop Farm (US), Hop Union (US), S.S. Steiner, Inc. (US), Gorst Valley Hops (US), Freestyle Hops (US), Hop Head Farms (US), Hop Revolution (New Zealand), Simply Hops (UK), Haas Agricultural Services (US). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Hops Market from 2021 to 2030.
- Market Forecast for Hops Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Hops competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Hops
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Hops market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Hops market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Yakima Chief Hops (US), Hopsteiner (US), Charles Faram & Co. Ltd. (UK), John I. Haas, Inc. (US), Barth-Haas Group (Germany), BSG CraftBrewing (US), Indie Hops (US), Hops Direct, LLC (US), Puterbaugh Farms (US), Hop Products Australia (Australia), Select Botanicals Group, LLC (US), Crosby Hop Farm (US), Hop Union (US), S.S. Steiner, Inc. (US), Gorst Valley Hops (US), Freestyle Hops (US), Hop Head Farms (US), Hop Revolution (New Zealand), Simply Hops (UK), Haas Agricultural Services (US).
Primary Target Market
- Market Players of Hops
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Hops market based on the below-mentioned segments:
Global Hops Market, By Product Type
Aroma hops
bitter hops
dual-purpose hops
Global Hops market, By Application
Brewing
pharmaceuticals
cosmetics
Global Hops market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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