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Hop Extracts Market Anticipated to Reach US$ 2,236 Mn by 2033 with Demand from Craft Brewing and Herbal Supplement Segments - Persistence Market Research
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Among the various market segments, CO2-extracted hop products lead the global landscape, accounting for over 50% of the market share due to their purity and high performance. Regionally, Asia Pacific dominates the global hop extracts market and is expected to maintain its leading position through 2033. This is primarily due to a booming beverage sector, increasing disposable incomes, and shifting consumer preferences toward premium, flavored alcoholic drinks in markets like India, China, and Southeast Asia.
Key Highlights from the Report
➤ The global hop extracts market is forecasted to grow at a 3.0% CAGR between 2023 and 2033.
➤ CO2-extracted hop products hold the highest market share due to their high purity and efficiency.
➤ Asia Pacific leads the market with an expected valuation of US$ 913.4 Mn by 2033.
➤ Organic hop extracts are gaining traction and are expected to grow at a 3.4% CAGR.
➤ Hop extracts are increasingly being used in skincare for treating dry and stressed skin.
➤ Key players are innovating hop flavors to meet growing demand from beverage manufacturers.
Market Segmentation
The hop extracts market can be segmented by nature, product type, and application. Based on nature, the market is divided into organic and conventional hop extracts. The demand for organic variants is on the rise as consumers seek cleaner, chemical-free alternatives, and this segment is expected to grow at a 3.4% CAGR.
On the basis of product type, the market comprises CO2 extracts, isomerized extracts, oil extracts, and others. Among these, CO2 extracts dominate the market, largely due to their high purity and effectiveness in brewing applications.
From an application standpoint, hop extracts are used as bittering agents, aroma agents, and dual-purpose agents. The bittering agents segment commands a significant share, fueled by their pivotal role in beer manufacturing. However, aroma agents are also gaining popularity due to the demand for flavorful alcoholic and non-alcoholic beverages.
Regional Insights
Regionally, Asia Pacific is the most dynamic and dominant market for hop extracts, forecasted to achieve a valuation of US$ 913.4 Million by 2033. This growth is attributed to the increasing consumption of alcoholic beverages, rising disposable income, and a shift towards modern lifestyle choices that emphasize premium and flavored beverages.
Europe follows closely, with a strong historical tradition of beer brewing and high consumer awareness about the health and flavor benefits of natural ingredients like hops. In Europe, the hop extracts market is forecasted to grow at a CAGR of approximately 3%. Countries such as Germany, the UK, and the Czech Republic are especially significant due to their established brewing industries.
The Middle East & Africa (MEA) region, while smaller in size, is expected to witness the highest CAGR of 4.0% during the forecast period. This is driven by growing interest in craft brewing and flavored beers across parts of the Middle East and African nations.
Market Drivers
One of the key growth drivers for the hop extracts market is the increased consumption of alcoholic beverages, especially beer. Rising disposable incomes, evolving taste preferences, and the rapid urbanization in emerging economies are fuelling demand for flavored alcoholic drinks. Hop extracts, with their role in imparting bitterness and aroma, are crucial in this evolution.
Additionally, the shift toward natural ingredients across food, beverage, and cosmetic sectors is propelling the market. Hops, being rich in bioactive compounds, are becoming a preferred alternative to synthetic additives, preservatives, and chemical ingredients. The rise in consumer awareness about health and wellness has further amplified this trend.
Technological advancements such as CO2 extraction and improved hop processing techniques are also enhancing the efficiency, purity, and yield of hop extracts, encouraging their adoption across diverse applications.
Market Restraints
Despite the positive outlook, the hop extracts market faces a few restraints. The limited availability of raw hop materials is a major concern. Since hop cultivation requires specific climatic conditions and involves a seasonal harvest, the supply chain can be volatile, especially with the rising global demand.
Additionally, the high cost of production and processing, particularly for organic and CO2-extracted hop products, poses a challenge for manufacturers trying to achieve competitive pricing. Also, regulatory issues related to the use of hop extracts in food and cosmetic formulations in certain countries may hinder market expansion.
Market Opportunities
The growing interest in craft beers and flavored alcoholic beverages presents a significant opportunity for hop extract manufacturers. As consumers seek unique experiences, brewers are innovating with diverse hop varieties to create signature flavors, thereby increasing demand for specialized hop extracts.
Another notable opportunity lies in the cosmetic industry, where hops are being increasingly used for their soothing, anti-inflammatory, and anti-aging properties. As natural skincare continues to trend, the use of hops in facial creams, moisturizers, and serums is expected to grow.
Moreover, the shift from synthetic preservatives to natural antimicrobial agents in the food industry creates an opening for hop extracts, particularly those rich in beta acids with proven antibacterial effects.
Reasons to Buy the Report
✔ In-depth insights into emerging trends and growth projections for the next decade.
✔ Comprehensive segmentation to identify and target high-growth categories.
✔ Regional analysis to support strategic market entry or expansion.
✔ Competitive landscape with detailed profiles of leading industry players.
✔ Analysis of market drivers, restraints, and opportunities to guide investment decisions.
Frequently Asked Questions (FAQs)
◆ How Big is the Hop Extracts Market in 2023?
◆ Who are the Key Players in the Global Hop Extracts Market?
◆ What is the Projected Growth Rate of the Hop Extracts Market?
◆ What is the Market Forecast for Hop Extracts through 2033?
◆ Which Region is Estimated to Dominate the Hop Extracts Industry through the Forecast Period?
Company Insights
• Kalsec Inc.
• S. S. Steiner, Inc.
• John I. Haas, Inc.
• Aromatrix Flora Pvt. Ltd
• Bristol Botanicals Limited
• Yakima Chief Hops LLC
• BSG Hops
• Glacier Hops Ranch, Inc.
• Hopco Pty Ltd
• New Zealand Hops Ltd
• Indena S.p.A.
• Willamette Valley Hops, LLC.
• Crosby Hop Farm LLC.
• Xinjiang Elimnatural Hops Co., Ltd
• Yakima Valley Hops LLC
• Hollingbery & Son, Inc.
• Akoma International Ltd
• Naturalin Bio-Resources Co., Ltd
• Plantnat Co. Ltd
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About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 25.92, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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