Global Hops Market Report and Forecast 2024-2032

Global Hops Market Outlook

The global hops market size is expected to grow at a CAGR of 4.60% in the forecast period of 2024-2032. This development is propelled by the rapidly rising craft beer demand and increasing utilisation of hops in the food and beverages industry.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Hops Market Trends

Hops are flowers formed on the Humulus lupulus plant. These cone-shaped green flowers are a part of the Cannabinaceae family and are usually used as a bittering, flavouring, and stability agent in beer. They are also used for herbal medicines.

Rising Adoption of Hops for Herbal Medicine

Hops are used for medical applications for providing relief from anxiety, insomnia, improving appetite, and for indigestion, among many other benefits. The increasingly deteriorating lifestyle of people has aided the market development.

Elevating Use of Hops in the Food and Beverage Industry

The rapidly developing food and beverage industry and the rising demand for beer have propelled the utilisation of hops in the industry. It is used as a stabilizing and flavour agent for the beer while acting as a preservative.

Increasing for Bittering Hops to Provide Lucrative Opportunities to the Market 

Craft breweries make small amounts of beer utilising traditional methods. The developing market for craft beer has surged the demand for bittering hops to replace aromatic varieties.

Global Hops Market Analysis

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Based on product type, the market can be segmented into chinook hops, cascade hops, amarillo hops, and centennial hops, among others. Based on application, it can be bifurcated into alcoholic drugs, medicinal drugs, and cosmetics, among others. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. 

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global hops market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans. 

• Yakima Chief Hops Inc.

• Hopsteiner Group

• Kalsec Inc.

• Sapporo Holdings Limited

• BarthHaas GmbH & Co. KG

• Others

Product Types of Hops in the Global Market

Based on product types, the market for hops can be divided into chinook hops, cascade hops, amarillo hops, and centennial hops, among others.

Among these segments, cascade hops are expected to hold the largest market share. This can be attributed to higher rates of production by the prominent countries engaged in hop production. The United States, one of the largest hobs producing markets, has many institutes that are collaborating to distribute hops medicinal products.

Applications of Hops in the Market

Based on application, the market can be segmented into alcoholic beverages, medicinal drugs, and cosmetics, among others. Among these applications, alcoholic beverage holds the largest market share, and the market is expected to grow significantly during the forecast period. The increased use of hops in the production of craft bears and in the food and beverage industry for flavour has further propelled the market growth.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

Sapporo Holdings Limited is an international company dealing with beers, food and beverages, restaurants, and real estate. The company was founded in 1876 and it is headquartered in Tokyo, Japan. The company is widely known for its alcoholic and non-alcoholic beverages such as beer, wine, brandy, whiskey, soft drinks, juice, coffee, and tea.

Hopsteiner Group is one of the world’s largest family-owned hop growing, breeding, processing, and supplier companies. They are focused on delivering a different variety of hops and hop products for brewers and other end-users. They have a wide variety of hops including Akoya, Calypso, Contessa, Lemondrop, Amarillo, and chinook, among many other varieties.

Kalsec Inc. is a pioneer company in the production of natural products and solutions. Their products are derived from natural herbs, vegetables, hops, and spices. They increasingly developing innovative products and solutions to meet the increasing demand in the food and beverage industry worldwide. Their products include food preservatives, food colours, spices and herb extracts, and advanced hops products. These products are supplied to different industries such as dairy, beer, beverages, pet food, and baked goods, among other industries.

Other market players include Yakima Chief Hops Inc., and Barthas GmbH & Co. KG, among others.

Key Highlights of the Report