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Hops Market Trends

Report ID: GMI7011
Published Date: Oct 2023
Report Format: PDF

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Hops Market Trends

The hops industry is experiencing numerous notable trends and analyses, mostly driven by the craft beer expand, increasing customer preference for unique and diverse flavors, and rising demand for organic and natural ingredients in brewing. Craft breweries are looking for new hop categories to differentiate their products, which has resulted in an increase in aroma and experimental hop varietals. Furthermore, worldwide health and wellness trends have increased interest in low-alcohol and non-alcoholic beer, driving up demand for hops in these products.

Authors: Kunal Ahuja, Himanshu Kabra

Frequently Asked Questions (FAQ) :

The market size of hops reached USD 7.75 billion in 2022 and is projected to surpass USD 14.35 billion by 2032, driven by the rising popularity of distinct beer styles.

Cascade hops industry generated USD 2.71 billion in revenue in 2022, due to their distinctive citrusy and floral aroma.

North America market size surpassed USD 3.36 billion revenue in 2022, attributed to the booming craft beer sector in addition to the changing consumer tastes and the rising demand for artisanal and specialty beers.

Some of the prominent firms in the industry are the Hop Planter Association Tettnang E.V., Yakima Chief Hops LLC, Hops Direct, LLC, Steiner Hops Ltd, Ausmauco Biotech Co., Limited, Barth-Haas Group, DVKSP Impex Pvt, Sapporo Holdings Ltd., Hop Head Farms LLC, and Styrian Hops.