Hops Market Report 2024 (Global Edition)

Global Hops Market Report 2024 Market Size Split by Product Type (Cascade, Chinook, Amarillo, Centennial, Others), by Application (Alcoholic Beverages, Pharmaceuticals, Cosmetics, Others), by Distribu...

Hops Market Report Description

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Competitive Landscape of the Hops Market

The hops market is characterized by intense competition among suppliers vying for market share. Key factors driving competition include product quality, variety, pricing, and distribution networks. Established players leverage their reputation and expertise to maintain dominance, while new entrants often focus on innovation and niche markets to gain traction. Additionally, mergers, acquisitions, and strategic partnerships reshape the competitive landscape, influencing pricing dynamics and market consolidation. With discerning consumers seeking unique flavors and sustainable sourcing, differentiation strategies are crucial for success in this competitive arena.

May 2022: Steiner Hops relocated to a spacious 8,000 sq ft warehouse situated at Henley Business Park in Woking. This purpose-built facility features customized cold storage units, expanded packaging and distribution areas, and an added mezzanine level housing offices for six employees. The upgraded facilities enable Steiner Hops to accommodate various packaging options, including mixed varieties and pallet quantities, to meet the specific needs of brewers like Brewpoint in Bedford. With a burgeoning clientele of approximately 400 small and independent breweries, these enhancements empower the company to effectively address the escalating demand for its products. (Source: https://beertoday.co.uk/2022/05/12/steiner-hops-warehouse/)

Top Companies Market Share in Hops Industry: (In no particular order of Rank)

• Yakima Chief Hops LLC
• Hops Direct
• LLC
• Steiner Hops Ltd
• Ausmauco Biotech Co.
• Limited
• Barth-Haas Group
• The Hop Planter Association Tettnang E.V.
• DVKSP Impex Pvt
• Sapporo Holdings Ltd.
• New Zealand Hops
• Hop Head Farms LLC
• Styrian Hops
• Brewers Select Limited
• Carlsberg Breweries A/S
• John I. Haas
• Heineken UK Limited
• Confidential Data
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Hops Market

Which Region Dominates the Hops Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue due to the flourishing craft beer industry, with the United States leading in consumption. The region's preference for hop-forward beer styles like IPAs and pale ales propels sales. Additionally, the rising trend of home brewing and microbreweries further drives demand for hops. Stringent quality standards and the adoption of innovative brewing techniques contribute to the premiumization of hops. Moreover, increasing awareness of health benefits associated with hop compounds fosters demand in pharmaceutical and nutraceutical sectors. The region's robust distribution network and favorable regulatory environment also bolster market growth.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the Hops market due to several factors. Firstly, shifting consumer preferences towards Western-style beers, particularly craft and specialty brews, fuel demand. The burgeoning middle-class population, coupled with rising disposable incomes, drives the consumption of premium and imported beers, driving up hops sales. Furthermore, the region's expanding urbanization and evolving beer culture contribute to increased consumption. Additionally, growing awareness of the health benefits of beer moderation stimulates market growth.

The current report Scope analyzes Hops Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Hops

According to Cognitive Market Research, the global hops market size was estimated at USD 7815.6 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 3126.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.

• According to Cognitive Market Research, The United States hops market had a market share of USD 2466.60 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. The sales of hops in the U.S. are expected to increase due to the booming craft beer industry, growing consumer demand for diverse and innovative beer styles, and the increasing popularity of hop-forward brews.
Canada hops market had a market share of USD 375.15 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Canada's hops market is poised for growth driven by the rising popularity of craft beer, increasing consumer preference for premium and flavorful brews, and the expansion of the microbrewery scene across the country. Mexico hops market had a market share of USD 284.49 million in 2024 and is projected to grow at a CAGR of 5.7% during the forecast period.

Europe Hops

According to Cognitive Market Research, the global Hops market size was estimated at USD 7815.6 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 2344.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.

• United Kingdom hops market had a market share of USD 393.91 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. In the UK, the sales of hops are projected to increase as the craft beer movement gains momentum, driven by consumers seeking unique and locally brewed beers, and the growing trend of beer tourism.
France hops market had a market share of USD 215.71 million in 2024 and is projected to grow at a CAGR of 4.7% during the forecast period. Germany hops market had a market share of USD 464.25 million in 2024 and is projected to grow at a CAGR of 5.7% during the forecast period. Germany's hops market is set to grow due to the country's rich brewing tradition, strong beer culture, and increasing demand for craft beers. Additionally, the country's strict purity laws ensure high-quality hops production. Italy hops market had a market share of USD 201.64 million in 2024 and is projected to grow at a CAGR of 4.9% during the forecast period. Russia hops market had a market share of USD 363.43 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. Spain hops market had a market share of USD 192.26 million in 2024 and is projected to grow at a CAGR of 4.6% during the forecast period. Luxembourg hops market had a market share of USD 72.69 million in 2024 and is projected to grow at a CAGR of 5.6% during the forecast period. Portugal hops market had a market share of USD 49.24 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. Greece hops market had a market share of USD 28.14 million in 2024 and is projected to grow at a CAGR of 5.8% during the forecast period. Rest of Europe hops market had a market share of USD 363.43 million in 2024 and is projected to grow at a CAGR of 4.2% during the forecast period.

Asia Pacific Hops

According to Cognitive Market Research, the global Hops market size was estimated at USD 7815.6 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1797.59 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.

• According to Cognitive Market Research, China hops market had a market share of USD 808.91 million in 2024 and is projected to grow at a CAGR of 8.5% during the forecast period. The sales of hops in China are expected to increase due to the rising affluence of the middle class, changing consumer preferences towards premium and imported beers, and the growing popularity of craft beer culture in urban centers.
Japan hops market had a market share of USD 248.07 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. India hops market had a market share of USD 215.71 million in 2024 and is projected to grow at a CAGR of 10.8% during the forecast period. India's hops market is poised for growth driven by the rising disposable incomes, changing lifestyles, and increasing urbanization, leading to a surge in demand for craft beers and specialty brews among the younger population. South Korea hops market had a market share of USD 179.76 million in 2024 and is projected to grow at a CAGR of 8.1% during the forecast period. Australia hops market had a market share of USD 93.47 million in 2024 and is projected to grow at a CAGR of 8.7% during the forecast period. South East Asia hops market had a market share of USD 124.03 million in 2024 and is projected to grow at a CAGR of 10.0% during the forecast period. Rest of Asia Pacific hops market had a market share of USD 127.63 million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period.

South America Hops

According to Cognitive Market Research, the global Hops market size was estimated at USD 7815.6 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 390.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.

• According to Cognitive Market Research, Brazil hops market had a market share of USD 167.25 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. Brazil's hops market is expected to grow as the country's beer consumption continues to rise, driven by a growing economy, changing consumer preferences towards premium and craft beers, and the emergence of microbreweries across the country.
Argentina hops market had a market share of USD 65.65 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. In Argentina, the sales of hops are projected to increase due to the expanding craft beer scene, growing consumer interest in specialty and flavored beers, and the increasing availability of locally produced hops varieties. Colombia hops market had a market share of USD 34.78 million in 2024 and is projected to grow at a CAGR of 6.2% during the forecast period. Peru hops market had a market share of USD 32.04 million in 2024 and is projected to grow at a CAGR of 6.6% during the forecast period. Chile hops market had a market share of USD 28.14 million in 2024 and is projected to grow at a CAGR of 6.7% during the forecast period. Rest of Latin America hops market had a market share of USD 62.92 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period.

Middle East and Africa Hops

According to Cognitive Market Research, the global Hops market size was estimated at USD 7815.6 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 156.31 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.

• GCC Countries hops market had a market share of USD 66.9 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. The sales of hops in GCC Countries are expected to increase as the region's beer market expands, driven by the growing expatriate population, increasing tourism, and shifting consumer preferences towards premium and imported beers.
Egypt hops market had a market share of USD 16.41 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. South Africa hops market had a market share of USD 24.7 million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period. South Africa's hops market is poised for growth due to the rising popularity of craft beer, increasing consumer awareness of beer diversity, and the expansion of the microbrewery industry, catering to a discerning beer-loving population. Turkey hops market had a market share of USD 13.44 million in 2024 and is projected to grow at a CAGR of 6.2% during the forecast period. Nigeria hops market had a market share of USD 16.41 million in 2024 and is projected to grow at a CAGR of 5.8% during the forecast period. Rest of MEA hops market had a market share of USD 18.44 million in 2024 and is projected to grow at a CAGR of 5.7% during the forecast period.

Hops Market Analysis

How are Segments Performing in the Global Hops Market?

Hops Market Product Type Segment Analysis

According to Cognitive Market Research, cascade stands out as the dominating category due to its versatile flavor profile, ideal for a wide range of beer styles. Its strong presence in classic American pale ales and IPAs ensures consistent demand. Additionally, its robust alpha acid content contributes to its popularity among brewers for both bitterness and aroma. Furthermore, Cascade's reputation for reliability in cultivation and consistent quality cements its position as a preferred choice for brewers worldwide.

Amarillo emerges as the fastest-growing category in the Hops market driven by its distinct aroma characterized by floral, citrus, and tropical fruit notes. Brewers seek out Amarillo for its ability to impart bold flavors and aromas, enhancing the complexity of modern beer styles such as hazy IPAs and fruity ales. Its rising popularity stems from its versatility in creating unique and appealing sensory experiences, appealing to craft brewers and consumers alike. Additionally, its relatively limited availability and exclusivity contribute to its desirability and premium pricing, further fueling sales growth.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Hops Industry. Request a Free Sample PDF!

Hops Market Application Segment Analysis

According to Cognitive Market Research, the dominating category is alcoholic beverages driven by the global rise in craft beer consumption. Craft breweries continue to proliferate, diversifying their offerings with hop-centric brews to meet consumer demand for unique flavors. Additionally, the growing popularity of hop-forward beer styles such as IPAs and pale ales contributes to increased hops sales. Moreover, the expanding market for flavored and specialty beers further propels the demand for a diverse range of hop varieties.

The fastest-growing category in the Hops market is pharmaceuticals driven by the increasing recognition of hop-derived compounds for their potential health benefits. Hops contain bioactive compounds like flavonoids and prenylated flavonoids with antioxidant and anti-inflammatory properties, making them attractive for pharmaceutical applications. Research into the therapeutic effects of hops, including their potential role in mitigating anxiety, insomnia, and menopausal symptoms, fuels demand. Furthermore, the development of hops-based supplements and herbal remedies contributes to the growth of hops sales in the pharmaceutical sector.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Hops Distribution Channel Segment Analysis

Hops Market Distribution Channel Segment Analysis

According to Cognitive Market Research, the dominating category is Distributors/Wholesalers due to their pivotal role in facilitating bulk purchases and supplying hops to breweries, retailers, and other end-users. Their extensive distribution networks and logistical expertise ensure efficient product delivery and market penetration. Additionally, wholesalers offer competitive pricing, volume discounts, and customizable ordering options, attracting customers seeking cost-effective procurement solutions.

The fastest-growing category in the Hops market is online retail driven by the convenience, accessibility, and expanding digitalization of shopping experiences. Online platforms offer a diverse selection of hop varieties from different regions, providing brewers with unparalleled choices and flexibility in sourcing. Furthermore, the rise of e-commerce enables direct-to-consumer sales, bypassing traditional distribution channels and reducing overhead costs. Additionally, online retailers leverage data analytics and personalized recommendations to cater to individual preferences, enhancing the shopping experience and driving sales growth in the hops market.

• Direct Sales
• Distributors/Wholesalers
• Online Retail
• Others

Author's Detail

David Fuller

Senior Analyst at Cognitive Market Research

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I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building.

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