The global hopped malt extract market size is expected to reach USD 11.73 billion by 2025,
according to a new report by Grand View Research, Inc. It is projected to
expand at a CAGR of 8.1% during the forecast period. Hops are one of the major
ingredients used in beer brewing process along with grains, yeast, and water.
Hops are used brewing to provide bitterness, balance sweetness of malt sugars,
and to add a refreshing finish to the brew.
Aromatic and bittering attributes infused
into the finished beer are the major factors driving the demand for hopped malt
extracts. This factor is anticipated to fuel growth of the global market. The
market growth is primarily attributed to the increasing application of hopped
malt in the brewing industry, especially for craft beer. Growing consumer
awareness regarding the availability of a broad range of flavors and styles of
craft beer with low alcohol by volume percentage.
Cascade hops type segment held the largest
market share of about 34.36% in 2018, due to wide application of the product in
the brewing industry. This hop is often used in American Pale Ales owing to its
superior aroma style profile and acidic attributes. Many super acidic,
dry-hopped brews are hopped with this hops variety.
Beverage application segment held the
largest market share of more than 70% in 2018. U.K., Germany, and U.S. among
other European and American countries are anticipated to drive the growth of
the segment. According to a report by the trade organization called The Brewers
of Europe, the number of microbreweries in Europe reached over 9500 brewers in
2017. This factor is anticipated to fuel the overall growth of the hopped malt
extracts market during the forecast period.
Europe held a market share of about 34% in
terms of revenue in 2018, driven majorly by the significant demand for craft
beer fron U.K., Germany, Italy, France, and other countries. Beer drinkers from
countries such as Poland, France, Italy, Germany, and U.K. are interested in
trying out different types of craft beer, such as Indian pale ales or other
such varieties. Consumers from Europe are also willing to spend more on craft
beer. This factor is anticipated to fuel the demand for hopped malt extracts.
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https://www.grandviewresearch.com/industry-analysis/hopped-malt-extract-market
https://www.grandviewresearch.com/industry-analysis/hopped-malt-extract-market
Further key findings from the report suggest:
· Asia Pacific is estimated to be hold the
largest market share of more than 21% by 2025, majorly driven by high demand
and product launches in India and China. The regional market is expected to
register a CAGR of 8.8% over the forecast period
· Cascades hops held the largest market share
of about 34.36% in 2018 due to wide product application in the brewing industry
· Beverage application held the largest
market share of more than 70% in 2018
· Major players operating in the hopped malt
extracts market are Muntons, Brewferm, Coopers, BrewDemon, Cerex, Hambleton
Bard Ltd., and Mangrove Jacks.
Grand View Research has segmented the
global hopped malt extracts market on the basis of type, application and
region:
Hopped Malt Extracts Type Outlook (Revenue,
USD Million, 2015 - 2025)
·
Cascade
·
Amarillo
·
Centennial
·
Chinook
Hopped Malt Extracts Application Outlook
(Revenue, USD Million, 2015 - 2025)
·
Food
·
Beverage
Hopped Malt Extracts Regional Outlook
(Revenue, USD Million, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
