Hopped Malt Extract Market Trends, Analysis, and Future Outlook 2024 - 2031 | Koninklijke DSM N.V., Muntons plc, Associated British Foods plc

Market Overview:

The hopped malt extract market size is expected to reach US$ 2 Bn by 2030, from US$ 1.28 Bn in 2023, at a CAGR of 6.6% during the forecast period.

Market Dynamics:

The hopped malt extract market is witnessing high growth owing to increasing demand from craft breweries. As per the report, the craft brewing industry is growing at a CAGR of over 7% during the forecast period. Small and independent craft breweries find hopped malt extract convenient to use as it saves time spent on grist milling and mashing during the brewing process. Also, hopped malt extract allows craft brewers to achieve consistency in taste across beer batches while experimenting with new flavors. Furthermore, hopped malt extract has longer shelf life compared to fresh hops and malt, thereby reducing wastage. Thus, growth of craft breweries especially in developing countries is expected to drive the demand for hopped malt extract over the forecast period.

🔍 Sample Copy of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/6498?utm_source=openpr.com&utm_medium=referral

Growth in Craft Brewing Industry Propels Demand for Hopped Malt Extract

The global craft brewing industry has been witnessing an exponential growth over the past few years. According to a report, the market valuation of global craft beer industry is expected to surpass $150 billion by 2024, growing at an impressive CAGR of over 8%. This phenomenal rise can be attributed to the rising popularity of specialty beers among millennials and the easy availability of an extensive variety of craft beers in developed markets including North America and Europe. Moreover, the growing demand for locally brewed beers has compelled several microbreweries and pub breweries to start their own production facilities. As hopped malt extract is extensively used in craft beers to add aroma and bittering properties, its demand has surged alongside the growth of craft brewing industry globally. The extract is preferred by craft brewers owing to advantages such as consistent bitterness levels and timesaving process over whole hops. Various industry experts project robust demand growth from craft brewers in the coming years, which will significantly drive the sales of hopped malt extract.

Growing Trend of Hop Forward Beers Widens Scope of Application

The past few years have witnessed a marked rise in the popularity of aggressively hopped American India Pale Ales (IPAs) and Double/Imperial IPAs among global beer consumers.Characterized by assertive hop aromas and robust bitterness, these styles have taken the craft beer scene by storm, especially in North America and Europe. According to industry sources, hoppy styles today account for around 25-30% of the total craft beer production in the US alone. This rapidly expanding customer base demanding bold hop flavors has broadened the scope and applications for hopped malt extracts. Brewers are favoring extracts to lend intense bittering and aroma attributes to their hoppy craft beers. The extracts allow producing styles like Double IPAs with sustained levels of hop oils to impart pine, citrus and tropical fruit notes typical to this genre. In order to capitalize on this grassroot movement around hop forward beers,extract manufacturers are expected to enrich their product portfolios withintensely-hopped variants suiting the taste palates of hop heads worldwide. Targeting this increasingly influential customer segment presents tremendous growth opportunities for hopped malt extracts market.

Potential for Value-Grab from Homebrewing Hobbyist Market

A parallel macro trend contributing to the growth of overall beer industry is rising interest in homebrewing as a fun hobby. Inspired by the artisanal revolution in craft beers, thousands of amateur brewers are experimenting with malt extracts and specialty grains to brew small batches at home. While malt-based kits continue to fuel this proliferating amateur market for convenient brew-in-a-bag solutions, hopped malt extracts especially in modular formats such as liquid/solid additions stand to gain traction going forward. Extract producers have a solid opportunity to cater to precision requirements and brewing aspirations of homebrewers. Convenient packaging, variety in hop profiles and education/sharing initiatives can help extract manufacturers make meaningful inroads in the lucrative homebrewer community. The demand from such non-commercial micro scale users will complement the industrial off-take from professional craft and non-craft brewing establishments. Overall it represents a potential value growth area for suppliers of hoppe

🛒 You Can Purchase Complete Report @ https://www.coherentmarketinsights.com/insight/buy-now/6498

Top Companies Included in This Report:

★ Koninklijke DSM N.V.
★ Muntons plc
★ Associated British Foods plc
★ The Malt Company
★ IREKS GmbH
★ Doehler
★ Briess Malt & Ingredients Co.
★ Malteries Soufflet
★ PureMalt
★ Huajia Food Technology

Market Segmentation:

Based on Product Type:

★ By Source: Barley, Wheat, Rye, Others
★ By Form: Liquid, Dry, Others
★ By Distribution Channel: B2B, B2C, Online, Specialty Stores, Others

Based on Applications:

★ By Application: Beer, Whisky, Food, Pharma, Others

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)

» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

» South America (Brazil, Argentina, Rest of SA)

» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Reasons to Purchase This Report:
📈 Regional Insights: Understand regional consumption patterns and factors influencing the market in different areas.

📈 Global Opportunities & Threats: Discover opportunities and challenges faced by global suppliers in the IELTS Training Platform sector.

📈 Growth Potential: Identify the fastest-growing regions and sectors.

📈 Competitive Landscape: Review market rankings, recent product launches, partnerships, expansions, and acquisitions of leading companies.

📈 Company Profiles: Access comprehensive corporate profiles, including company overviews, insights, product benchmarks, and SWOT analyses of key market players.

📈 Market Outlook: Get current and future market outlooks, including recent developments, growth opportunities, drivers, challenges, and regional constraints

FAQ:
What is the scope of this report?

Does this report estimate the current market size?

Does the report provide market size in terms of Value (US$ Mn) and Volume (thousand ton/metric ton/cubic meter)?

Which segments are covered in this report?

What are the key factors covered in this report?

Does this report offer customization options?

💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/6498

Author Bio:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)

Contact Us

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Australia: +61-2-4786-0457
India: +91-848-285-0837

About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.