Hops Derivatives Market Research Report includes various topics like total Market Size, Key Market Drivers, Challenges, Growth Opportunities, Industry Share, Growth, Demand, Outlook etc. Furthermore, it covers key market updates, the impact of regulations and technological updates in. The report addresses the need to stay updated in this competitive market conditions and this provides and comprehensive data for making strategies and decision to stimulate the market growth and profitability.
Market Overview:
Hops are forms of flowers extracted from the hops plant named Humulus Lupulus. They are used majorly as stabilizing agents for beer and adds a bitter taste to the product because of its addition. Hops is gaining increasing popularity in the global market due to the high demand for medicinal tonics, which helps in enhancing appetite and radically reduces insomnia. The market is also identified to be driven by the growing demand for medicinal drugs and flavored beers that is prepared with the help of hops derivatives. According to the latest in-depth research conducted by Market Research Future (MRFR), the global hops derivatives market is expected to garner a decent CAGR of 3.6% during the review period, primarily based on its potential number of applications in the beer and pharmaceutical industry.
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The market is believed to ride on to a period of continuous growth and expansion due to the booming demand it holds across different countries and the potential benefits it can offer. The market is also expected to experience high demand due to the increasing impetus placed on research and development activities and adoption of advancing technologies. However, high cost of investment in the derivatization process of artificial hops and high content of sugar can severely hamper its market growth during the forecast period.
Competitive Landscape
The global hops derivatives market holds a vast population of noteworthy players, including Global Hops (North America), Kalsec Inc (the U.S.), YCH HOPS (the U.S.), Charles Faram & Co Ltd (U.K.), New Zealand Hops Limited (New Zealand), Steiner Hops (U.K.), and Brewers Select Limited (U.K.).
Industry News:
March 10th, 2019, Craftbeer.com in its 2019 list for great beer places in America, listed Hops and Hollers as one of the “Great American Beer Bars”.
Market Segmentation:
The global hops derivatives market segmentation is done on the basis of application, chemical composition, and distribution channel.
By application, the market includes pharmaceutical industry, alcoholic beverages like beer, cosmetics, and others. The alcoholic beverages segment dominates the market standings in this segmentation and is projected to grow and expand in the forthcoming years. Hops derivatives are used as natural stabilizing agents, which makes it a highly useful in the alcoholic beverages industry across the globe.
By chemical composition, the market comprises of essential oils, alpha acids, beta acids, and others. Among these mentioned segments, alpha acids consume a majority of the market share to stand out as the dominator. This can be owed to the high lumulone content that is found in the hops flower.
By distribution channel, the market includes both store-based and non-store-based distribution channels. The store-based channels comprise of convenience stores, supermarkets or hypermarkets, specialty retailers, and others, and the non-store-based channel comprises of ecommerce platforms. It is reported that the store-based segment is the dominant of the two owing to the one-stop shopping experience and the convenience it offers to the consumers.
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Regional Analysis:
The global hops derivatives market is geographically segmented into Europe, Asia Pacific, North America, and the Rest of the World (RoW).
Among the mentioned regions, North America holds the highest market share percentage to its name in the global rankings. The North American region is forecasted to exhibit the maximum growth rate during the forecast period of 2017 to 2023. The market boasts various drivers which are all cumulatively contributing to boost the global hops derivatives market in North America. The factors include the evolving consumer lifestyle and eating habits, which is causing rising incidences of stomach disorders and various other diseases, rigorous R&D activities, and the booming advancement of various technologies that are aiding the production of hops derivatives in North America. Additionally, both the US and Canada holds major share of the market to contribute to the overall dominance of the North American region.
The European regions stands second in the market standings following the North American region. However, the Asia Pacific region is anticipated to attain the fastest market growth during the forecast period. This is due to the developing pharmaceutical and alcohol industry in this region.
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