Global Hops Market

Hops Market Size, Share, Growth Analysis, By Product Type(Aroma hops, bitter hops, dual-purpose hops), By Application(Brewing, pharmaceuticals, cosmetics), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15A2221 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 63 | Figures: 75

Hops Market News

  • In January 2023, BarthHaas launched an all-new company website where hop services providers can present their extensive portfolio in an updated design and very clearly structured form. Hence, searching for information about the company, its products, and its services will be easier and more intuitive.
  • In January 2023, Crosby Hops, announced the official expansion of its product offerings to include cryogenically processed lupulin pellets. Its new CGX concentrated pellets are available in several varieties, which makes it possible to brew aggressively-hopped beers that can improve yields and margins while reducing the environmental footprint of production.
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Hops Market size was valued at USD 1741.05 million in 2021 and is poised to grow from USD 1625.28 million in 2022 to USD 2753.04 million by 2030, at a CAGR of 6.8% during the forecast period (2023-2030).

The hops market is characterized by intense competition among key players vying for market share. The competitive landscape is diverse, encompassing large multinational corporations, regional players, and small-scale hop growers. These companies focus on strategies such as product innovation, partnerships, and mergers and acquisitions to strengthen their market position. They invest in research and development to introduce new hop varieties and improve cultivation techniques. Additionally, companies are expanding their production capacities and distribution networks to cater to the growing demand for hops globally. '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)'

In recent years, there has been a significant shift in consumer tastes and preferences, with an increasing demand for unique flavors and aromas in beer. Craft breweries and microbreweries have emerged as major players in the beer industry, focusing on producing small batches of high-quality beer with distinct hop profiles. This trend has created a strong demand for hops, as brewers seek to incorporate different hop varieties to achieve the desired flavors and aromas in their products.

Increasing demand for organic and sustainably produced hops: With the growing consumer emphasis on health, sustainability, and environmental consciousness, there is a rising preference for organic products across various industries, including the beer and brewing sector. Consumers are seeking beer made with organic ingredients, including organic hops, due to concerns over pesticide residues and environmental impact. In response to the demand for sustainably produced hops, some hop growers are also implementing sustainable farming practices, focusing on water conservation, energy efficiency, and waste reduction.

North America represents the largest market region for hops. The region has a well-established craft beer culture and a strong presence of microbreweries and craft breweries. The US, in particular, has witnessed a surge in the demand for craft beer, which has driven the consumption of hops. The craft beer movement, with its emphasis on unique flavors and high-quality ingredients, has created a favorable environment for the growth of the hops market in North America. Additionally, the region is home to several major hops-producing states, such as Washington, Oregon, and Idaho, which contribute significantly to the overall supply of hops.

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Global Hops Market

Report ID: SQMIG15A2221

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