A recent report published by Infinium Global Research on the hops market provides an in-depth analysis of segments and sub-segments in the global as well as regional hops market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional hops market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global hops market. According to the report, the global hops market is projected to grow at a significant CAGR over the forecast period of 2022-2028.
Hops are flowers obtained from plant such as Humulus and lupulus which is a part of the hemp family. The hops plants are of two type’s male and female plants. Only female plants are utilized for commercial purposes. The hops are widely utilized as a flavoring and stabilizing agent in alcoholic beverages, particularly beer. They act as a stabilizing agent in beer and are used for flavoring and bittering. The hops have applications in cosmetics formulations, alcoholic beverages, medicinal drug preparations, production of tinctures & tea, and various other applications. The increasing demand for the hops from beverage industry will drive market growth.
The increasing demand for various hop varieties and their flowers by industries like breweries, cosmetics, and medicine is projected to propel the market growth during the forecast period. The escalation in demand for exotic beer flavors and the drastic rise in craft beer popularity is expected to influence the growth of the market within the upcoming period. Further, the growth of the market is attributed to the rising utilization by the medicine as well as the brewery industry, because of the anti-bacterial properties available in the hops. The product made from hope can efficiently cure fight against ulcers, can treat anxiety, headache, and insomnia which is anticipated to enhance the demand in the forthcoming period. Moreover, increasing demand in the North American and Europe regions will create lucrative growth opportunities for the market. The cold environment has increased the demand for alcoholic beverages in the Europe region which is expected to increase the demand for hops. However, the unregulated amount of consumption of hops-based products induces side effects on the human body. The hops plant also requires a large amount of water daily. Farming of hops in drought-prone or hot areas is very hard, which is further expected to hamper the market growth during the forecast period.
Based on the region the market is bifurcated by North America, Europe, Asia Pacific, and ROW. Europe region is expected to dominate the growth of the market. According to the European Commission, approximately 2,600 farms in European countries grow hops. 14 in European countries grow hopes. About 17,000 hectares are utilized to cultivate hop in Germany, accounting for 60% of Europe’s hop-growing acreage. It is about one-third of the total surface area devoted to hop cultivation globally. The other important producers of hope in European countries are Poland, Slovenia, and Czechia. Europe separately produces over 50,000 tons of hops per year. The increasing demand for alcoholic beverages such as Beer and others in European countries is majorly driving the demand of the market during the forecast period.
The report on the global hops market covers segments such as product type, and application. On the basis of product type, the sub-markets include cascade hops, chinook hops, amarillo hops, and centennial hops. On the basis of application, the sub-markets include alcoholic beverages, cosmetics, medicinal drugs, and others.
The report provides profiles of the companies in the market such as Crosby Hop Farm, LLC, Hopsteiner, HVG e.G., Hops2Brew, Northern Brewer, Yakima Valley Hops, Hops Direct, HOP HEAD FARMS, Hollingbery and Son, Inc., and John I. Haas.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the hops market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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