PUBLISHER: DataM Intelligence | PRODUCT CODE: 1336758
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1336758
Global Hops Market reached US$ 7.8 billion in 2022 and is expected to reach US$ 13.3 billion by 2030, growing with a CAGR of 6.8% during the forecast period 2023-2030.
Hops are the flowers of the Humulus lupulus plant. Hops are used to keep beer fresher for extended periods of time. It aids in the retention of a beer's head of foam and is an important component of a beer's aroma, flavor and bitterness. In addtion, hops are included in the majority of beers on the market today.
The growing global demand for beer consumption drives the expansion of the hops market. The present growing trends in the craft beer industry, as well as the increased reliance on hops. Furthermore, according to Bart Watson, US brewers will require an additional 24 million pounds of hops (mainly aroma) by 2020. The demand for hops by brewers will fuel market expansion over the projected period.
Hops, rather than yeast or grain, is the most important component in brewing operations products. Few components are required for beer manufacturing. In reality, the German beer purity legislation mandates that beer be manufactured solely from water, hops, barley (malt) and yeast. Hops' brewing worth is found in the distinct flavors and fragrances produced by resins and oils contained inside the lupulin glands of hop cones. Breweries employ hops for a variety of purposes, including bittering (high alpha acid levels), finishing (high aroma levels) and dual (a mixture of both).
Furthermore, as the popularity of hop scents grows, as seen in an IPA, more breweries are employing higher amounts of aroma hops and adding them at different points of the brewing cycle. According to USA HOPS, the amount of hops used for different beer styles such as amber is roughly 0.17 lb per kg, barleywine 1.57lb hops, Imperial IPA 3.8lb hops per kg and imperial stout 1.73lb hops used per kg.
Hops are commonly utilized in the brewing process due to their bitter and aromatic properties, but they are also employed in other applications. The rising use of various hops in the beauty sector is also driving the market. Hops include chemicals known as xanthohumol and humulene, which have anti-inflammatory properties.
Hops are a great component in skin care products such as lotions, creams and serums because of their qualities. For instance, on August 24, 2021, Kirin Holdings Company, Limited and FANCL Corporation jointly discovered that Matured Hop Extract has a novel function of enhancing the condition of skin pores after transforming it into a raw material for cosmetics.
Furthermore, hops have soothing properties due to their high level of antioxidants and polyphenols, making them an ideal ingredient for the sensitive eye region. For example oriflame Cosmetics AG, a Swedish cosmetic firm, provides its Hydra Radiance Eye Cream, which is particularly developed to hydrate and nourish all skin types and contains hops.
Hops are perennial plants with a long gestation period before reaching full maturity and output. Newly planted hop fields generally take two to three years to establish robust root systems and generate a harvestable output. During this time, the hop plants need considerable inputs in labour, water and other resources that do not yield immediate results.
Furthermore, hops require a variety of fertilisers and water, which must be applied in a cyclical pattern. Because of the extended gestation time, supplies may be limited during the first years of cultivation. Brewers and other hops consumers may encounter occasional shortages as a result of the restricted supply. Because of the long gestation period, hop producers struggle to precisely estimate market demand years in advance.
The hop industry is in a crisis of collapsing as a result of pub closures. The hop-growing industry is at risk of collapsing after the months-long closure of pubs during the lockdown made brewers unwilling to buy next year's crop due to COVID-19. According to the Trade Groups, only 40% of the 2021 crop has been contracted to brewers, who have a surplus this year due to a sharp drop in consumption due to the pandemic.
Furthermore, the craft beverage industry in the United States has experienced unprecedented growth as a result of the COVID-19 pandemic. According to a national poll, more than 22% of craft brewers will not survive the pandemic, forcing their plants to close permanently. As of March 25, 2020, the majority of breweries polled about their production scheduling response to the coronavirus outbreak in the United States had not ceased brewery operations. Over 65 percent of breweries had slowed production and more than 30 percent had completely ceased production.
The global hops market is segmented based on type, variety, product, distribution channel, application and region.
Consumers are becoming more intrest to new flavors and innovations as their interest in health and well-being and the use of natural and organic products grows. Beverage manufacturers have used a variety of methods and ingredients to bring these hops products to market and experts remark that hops are offering a solution for beverages in a variety of categories.
The most crucial part of any beverage drink is the flavor. With millennials driving the need for novel flavors, beverage manufacturers have begun to use hops and malts to produce distinctive flavors and innovations. Furthermore, the bitterness given by hops is an emerging flavor trend. Furthermore, IPA is the most popular type of craft beer. According to USA HOPS, the Imperial IPA uses 3.8lb of hops per kilogram. Furthermore, the United States beer sales volume 182.05 billion BBLS in 2022, with craft beer accounting for 13.2% of the total with a volume of 24.04 billion BBLS reported by Breweres Association.
In 2022, Europe was the fastest-growing market for hops, owing to increased imports as well as an increase in hop cultivation areas, driven by increasing demand for beer. After the United States, Germany is the world's second-largest hop-growing country, with hops grown on an area of approximately 20,144 hectares (roughly the size of 50,000 football fields) across the country.
According to the International Trade Centre, the United Kingdom, France, Spain and Germany will import a total of 1,279, 684 and 631 metric tonnes of hops in 2021, respectively. Furthermore, Europe is the world's largest beer-consuming region, with the Czech Republic leading the way with 143.3 liters per capita, followed by Germany with 104.2 liters per capita, Poland with 100.8 liters per capita, Ireland with 98.2 liters per capita and others.
The major global players include: Roy Farms Inc., Barth-Haas Group, Hops Direct, LLC., HOP HEAD FARMS, Clayton Hops NZ, Charles Faram, NZ Hops Ltd, Crosby Hop Farm, LLC, Yakima Valley Hops and Hopsteiner
The global hops market report would provide approximately 77 tables, 83 figures and 189 Pages.
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