The global Hopped Malt Extract market is expected to reach a market valuation of US$ 6,754 million by 2023, recording a CAGR of 5.3% from 2023 to 2033.
Hop is a primary component used in beer production, along with grains, yeast, and water. It provides bitterness, counterbalancing the sweetness of malt sugars, and lends a refreshing finish to the beer. The demand for hopped malt extract is expected to rise due to its ability to add aroma and bitterness to final beverages. Furthermore, the market is predicted to expand due to the increasing acceptance of hop in various food applications, such as baking, breakfast cereals, confectionery, and other food products. Additionally, the demand for hop is expected to grow in non-alcoholic beverages.
| Attribute | Details |
|---|---|
| Hopped Malt Extract Market Size (2023E) | US$ 6,754 million |
| Hopped Malt Extract Market Projected Size (2033F) | US$ 10,842 million |
| Value CAGR (2023 to 2033) | 5.3% |
| Top 3 Countries Marketing Share | 69% |
Hopped malt extract is a crucial ingredient for small breweries, particularly for creating unique beer styles that attract customers. Additionally, the growing consumer preference for artisanal beers is expected to further drive this sector's growth. The demand for this type of beer is expected to contribute to the expansion of the market, as the desired malt extract is primarily used in Indian pale and stout beers.
In our new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights into key factors driving demand for Hopped Malt Extract.
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| Market Statistics | Details |
|---|---|
| Jan–Jun (H1), 2021 (A) | 5.2% |
| Jul–Dec (H2), 2021 (A) | 5.3% |
| Jan–Jun (H1),2022 Projected (P) | 5.4% |
| Jan–Jun (H1),2022 Outlook (O) | 5.4% |
| Jul–Dec (H2), 2022 Projected (P) | 5.5% |
| Jul–Dec (H2), 2022 Outlook (O) | 5.8% |
| Jan–Jun (H1), 2023 Projected (P) | 5.7% |
Over the last five years, there has been a noticeable increase in the market for craft brewing. The market for hopped malt extract in the beer sector is driven by consumers' desire for distinctive and tasty beers across the globe. Also, the demand for speciality malts is rising as a result of the growth of microbreweries and craft beer manufacturing. Common materials like malted barley are frequently used to make craft beer. For instance, according to the Brewers Association, 27% of the $100 billion US in beer sales in 2021 came from the craft beer industry.
These elements fueled the market's expansion for hopped malt extract. Also, the growing use of hopped malt extract in the production of non-alcoholic beverages fuels market expansion.
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Small or microbreweries struggle to enter the market and compete with the established major brewers due to high startup costs or the restrictions of franchising. Yet, in order to introduce new techniques and innovations in beer to attract customers, these tiny brewers are now relying on hopped malt extract to manufacture their brews. Microbrewers rely heavily on hops for such breakthroughs. Stouts and India Pale Ales, for instance, rely significantly more on hopped malt extracts than other types of beer. Small breweries' increased demand for hopped malt extract is stimulating the market for the product and boosting sales.
Due to the rising demand for beer in these regions, the North American region mostly dominates the industry. Moreover, the government's efforts to welcome new breweries have accelerated industry expansion. According to Brewers Association data, these factors contributed to a double-digit expansion in the number of small, independent brewers, microbreweries, and brewpubs in the United States up until 2017. As of 2018, there were 7,346 of these establishments.
From 2023 to 2033, Asia Pacific is anticipated to grow at the quickest rate, mostly due to China and India's increasing consumption of flavored drinks with low alcohol content. China was identified as the main nation in terms of market share and consumption, as well as being one of the top 13 beer consumers worldwide, in Kirin Beer University's December 2017 research on global beer consumption. The demand for hopped malt extract in the region is expected to increase as a result of this scenario.
By 2023, Europe owned a sizable portion of the global market, largely due to the rapid growth in demand for craft beer in the UK, Germany, Italy, France, and other nations. Beer drinkers from nations like Poland, France, Italy, Germany, and the UK are eager to try out various craft beers, including Indian Pale Ales and other pale ales, and they're also willing to spend more money on them. In the upcoming years, it is anticipated that this element will fuel regional market expansion.
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Food and beverage segments of the market are dispersed. With a market share of more than 70.0%, the beverage segment dominated the market. Alcoholic beverages played a significant role in this segment's rising demand. Thus, these elements are anticipated to fuel this market's expansion over the coming several years. Market expansion is anticipated in North American and European nations like the USA, Germany, and the UK Also, the government encourages the construction of new breweries to boost employment in nations like China, India, Mexico, Belgium, and New Zealand, which is anticipated to significantly fuel market expansion in the near future.
Due to the wide range of applications in the brewing sector, the cascade category held the greatest market share of more than 34.0% in 2018. Due to its better scent and acidic nature, this product is primarily employed in American pale ales, a market that is predicted to increase favorably.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ million for Value and Metric Ton for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East and Africa |
| Key Countries Covered | United States of America, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC countries, North Africa, South Africa, others. |
| Key Segments Covered | End Use, Type, Source, Nature, and Region |
| Key Companies Profiled |
BSG; Hopsteiner; Muntons; Brouwland; Coopers; BrewDemon |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Hopped Malt Extract Market is valued at US$ 6,754 million for 2023.
The Hopped Malt Extract Market valuation is expected to be US$ 10,842 million in the year 2023.
The value of CAGR for the Hopped Malt Extract Market is estimated to be 5.3%.
The beverage industry would garner a significant market value share by 2023.
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Hopped Malt Extract Market
