The global hopped malt extract market is expected to touch USD 11.73 billion by 2025, according to Million Insights, registering a 8.1% CAGR during the forecast period. The hops is a key ingredient used with other products like water, yeast, and grains in beer brewing. Hops balance the sugar, give a bitter taste, and add a refreshing smell to finished beverages.
Cascade segment held the largest market share of more than 34.0%, in 2018 due to having several applications in the brewing industry. Cascade is commonly used in American pale ales, as it contains superior aroma and acidity. Dry-hopped and many acidic brews are hopped by this product which is expected to spur the growth of this segment.
The beverage segment accounted for the largest market share of more than 70.0%, in 2018. Some of the European and North American countries like U.S., U.K, and Germany are anticipated to drive the growth of this market from 2019 to 2025. The Brewers of Europe, a trade organization reported that in 2017, many microbreweries have reached more than 9500 brewers in Europe.
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Europe held the largest market share of around 34.0%, in 2018 owing to increasing demand for craft beer in France, Italy, Germany, and the U.K countries. Most of the beer drinkers prefer to taste different craft beers like pale ales and others which is projected to witness significant regional market growth over the forecast year.
Some of the prominent companies operating in the hopped malt extracts market are Brewferm, Muntons, BrewDemon, Cerex, Mangrove Jacks, Hambleton Bard Ltd., and Coopers, Market players are implementing several strategies such as product innovation and development, merger & acquisitions, partnerships for geographical expansion. This scenario is projected to fuel the market growth during the forecast period.
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Further key findings from the report suggest:
• North America projected to hold the market share of more than 21.0% by 2025 due to increase high consumption and product innovation in developing countries. Further, Asia Pacific is expected to register a CAGR of more than 8.5% from 2019 to 2025.
• Cascades hops segment accounted for the largest market share of more than 34.0% due to increase in a wide range of application in brewing industry.
• In 2018, beverage application accounted for the largest market share of more than 70%.
• Major players included in the hopped malt extract market are Brewferm, Muntons, BrewDemon, Cerex, Mangrove Jacks, Coopers, and Hambleton Bard Ltd.
Million Insights has segmented the global hopped malt extracts market on the basis of product, application, and region:
Product Outlook (Revenue, USD Million, 2015 – 2025)
Application Outlook (Revenue, USD Million, 2015 – 2025)
Hopped Malt Extracts Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa
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