The global hops market at a CAGR of over 4% during the forecast period
NEW YORK, Jan. 2, 2020 /PRNewswire/ --
Global Hops Market: About this market
This hops market analysis considers sales from both aroma hops and bitter hops types. Our study also finds the sales of hops in APAC, Europe, MEA, North America, and South America. In 2018, the aroma hops segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising demand for craft beer will play a significant role in the aroma hops segment to maintain its market position. Also, our global hops market report looks at factors such as high demand from the brewing industry, increasing hop acreage, and increasing applications of hops in pharmaceuticals and processed food industries. However, stringent regulations, high cost of production, and climatic requirements leading to concentrated production in the US and Europe may hamper the growth of the hops industry over the forecast period.
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Global Hops Market: Overview
Increasing applications of hops in pharmaceuticals and processed food industries
Hops have anti-carcinogenic, anti-inflammatory, and antiviral properties. They are also rich in antioxidants and are used in the treatment of diabetes. With the increase in risk factors such as obesity, diabetes, stress, and high blood pressure, people are adopting healthy diets and are making a strong demand for products that have medicinal properties. This has also increased the use of hops in the pharmaceutical industry. They are used to manufacture drugs for the treatment of sleep disorders, nervousness, and anxiety. Hops are also used as a replacement for antibiotics and are used in beet sugar processing, animal feed, and production of ethanol and several processed foods due to their antibiotic properties. Thus, the increased use of hops in pharmaceuticals and processed food industries will lead to the expansion of the global hops market at a CAGR of over 4% during the forecast period.
Increasing emphasis on dual-purpose hops
Dual-purpose hops have qualities of both aroma and bitter hops. Dual-purpose hops are majorly used in the brewing industry, catering to the huge demand from manufacturers of craft beers across the globe. Dual-purpose hop varieties, such as Amarillo, Citra, Simcoe, Hallertau Blanc, Mosaic, and Perle, have qualities of both aroma and bitter hops. Amarillo hops are widely used in ales and IPAs craft beer for their citrus nature and a flowery, grapefruit-like aroma with medium bittering value. This development is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of several major players, the global hops market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading hops manufacturers, that include BarthHaas GmbH & Co. KG, Bintani Australia Pty. Ltd., Charles Faram Ltd., Hildegard Eisemann KG, Indie Hops, Kalsec Inc., New Zealand Hops Ltd., Steiner Hops Ltd., and Yakima Chief Hops LLC.
Also, the hops market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Read the full report: https://www.reportlinker.com/p05833497/?utm_source=PRN
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