Hop Extracts Market : Global Snapshot by 2026
Growing demand for beer and ale is driving the Hop Extracts market globally. Consumers all around the world are getting attracted towards Hop Extracts because of its ease and low production costs which is driving the market. Hop extracts save time and energy while producing beer. Hops are generally added in Wort in order to give bittering, aroma and flavour to beer. Countries like China, India, and Hong Kong, are the future markets for alcoholic beverage and thus a promising market for Hop Extracts. Perception towards alcoholic beverage in the Middle East and APEJ is changing, and with the rise of per capita income, people changed their way of living and shifted towards beer from fruit juices. Hop Extracts serves best for the purpose of brewing when one needs to save time which won't be possible without Hop Extracts. Hence, Hop Extracts market is expected to grow during the forecast period due to its versatile benefits.
However, Hop Extracts comes along with some restraints. Hop Extracts cannot be easily found in developing markets. Most of the people have no knowledge of Hop Extracts in most of the countries which is a big restraint for this market because of limited advertisement. People also fears of dangers such as change in alcoholic content, conversion of liquid to poison or acid and others that they perceive in using Hop extracts instead of pellets or hop fruit.
Hop Extracts market has an opportunity to expand in APEJ and MEA region. In the past decade, hundreds of Hop Extracts players entered China because of decent Hop production in the country and all of them are doing great. There is a need to increase the presence throughout the region.
Hop Extracts market can be segmented on the basis of type which includes oil, pellets and aroma. Hop Oil is the most commonly used ingredient in beer. Hop Extracts market can be segmented on the basis of Hop variety which includes Cascade, Nugget, Willamette, Citra, Crystal, Cluster, Centennial and Others (Chinook, Columbus, Mosaic, etc.). Hop Extracts market can also be segmented on the basis of types of applications which includes brewing, herbal treatment and pharmaceutical.
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Regional coverage for Hop Extracts market includes North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ) and the Middle East and Africa (MEA). Hop Extract’s market witnesses a high demand in North America and Europe because of the high consumption of beers in the region. However, the Hop Extracts market is expected to grow significantly in APEJ region as consumers have widely adopting beer and ale.
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The market players in Hop Extracts market are Hopsteiner, BSG, Northern Brewers, The Malt Miller, MoreBeer, Charles faram and many more.
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