The demand for hops derivatives is growing in the pharmaceutical industry owing to increasing use in medicinal drugs and tonics. This is anticipated to escalate the market demand for hops derivatives on a global level. It is also used as a natural flavoring and stabilizing agent in the beer industry.
Hops derivatives have various unique properties such as of antimicrobial, anti-fungal, and anti-cancer. They are widely used in the pharmaceutical industry to manufacture varied drugs and tonics. Additionally, it is used as a natural preservative in the food and beverage products; stabilizer and flavor enhancer of beer products in beverage industry, which is gaining popularity across the globe. Furthermore, constantly increasing demand for hops containing beer is driving the growth of the global hops derivatives market.
Moreover, the market examines continuous growth due to high demand in most of the countries and intensifying market opportunities. Increasing focus on R&D and advancing technology likely to boost the global hops derivatives market. However, high investment cost in the derivatization process of artificial hops derivatives as well as high sugar content may affect the market growth negatively.
All these factors expected to contribute to the estimated CAGR of 3.5% of hops derivatives market during the forecast period 2017-2023.
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- Charles Faram & Co Ltd (U.K.)
- YCH HOPS (the U.S.)Archer Daniels Midland (the U.S.)
- New Zealand Hops Limited (New Zealand)
- Steiner Hops (U.K.)
- Kalsec Inc (the U.S.)
- Global Hops (North America)
Hops derivatives market is growing rapidly due to high demand for anti-bacterial, anti-cancer, and antioxidant medicines from most of the countries, and intensifying market opportunities. Moreover, focus on R&D and technological advancement expected to boost the hops derivatives market over the forecast period 2017-2023.
Hops derivatives market is segmented on the basis of chemical composition, comprises of alpha acids, beta acids, essential oils, and other. Among them, alpha acids segment occupies a major share of the global market due to high lumulone content found in the hops flower.
The global hops derivatives market is segmented on the basis of application, which includes alcoholic beverages (beer), pharmaceutical industry, cosmetics, and others. Among all, the beverage (beer) industry is dominating the global market and is expected to grow over the review period. Since hops derivatives acts as a natural stabilizing agent, it is widely used in this industry across the globe.
Hops derivatives market has been segmented on the basis of distribution channel, which comprises of store based (supermarkets/hypermarkets, specialty retailers, convenience stores, and others), and non-store based (e-commerce). Sale through store based channels is dominating the market due to convenient one-stop shopping experience of the consumers.
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Global Hops Derivatives Market is segmented into four regions: North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the hops derivatives market across the globe. In this region, the U.S. & Canada hold a major share of the global hops derivatives market followed by Europe. Changing eating habits with the rising prevalence of stomach disorders and other diseases followed by intensifying market opportunities lead the growth of the hops derivatives market in this region. However, Asia Pacific is projected to grow rapidly owing to increasing demand for flavored beer and medicinal tonics, which act as an appetite enhancer.
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