-- Market Overview
the market is projected to grow at a high CAGR during the forecast period on the basis of its varied and budding applications in the pharmaceutical and food and beverage industry.
The demand for hops derivatives is rising in the pharmaceutical industry, owing to growing usage in tonics and medicinal drugs. This is expected to drive the market demand for hops derivatives on a global as well as a regional level. It also has usage as a stabilizing agent and natural flavoring in the beer industry. These applications are likely to increase their demand over the review period.
The proclivity of the pharmaceutical industry to produce tonics and drugs, that can be used to aid in increasing the appetite and treatment of insomnia has created a promising market for the use of hops derivatives in the industry over the forecast period. It has gained acceptance in the beer industry by its numerous applications such as to impart a naturally bitter taste and properties to stabilize in beer products. However, hops derivatives with higher humulone content have risen the health concern owing to the high processing price in derivatization, which may hinder the market growth of the hops derivatives over the review period.
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Key Players
The critical players identified in the Hops Derivatives Market are
• New Zealand Hops Limited (New Zealand),
• YCH HOPS (the U.S.),
• Steiner Hops (U.K.),
• Global Hops (North America)
• Kalsec Inc (the U.S.),
• Brewers Select Limited (U.K.),
• Charles Faram & Co Ltd (U.K.)
Segment Analysis
The market for hops derivatives is segmented based on chemical composition into beta acids, alpha acids, essential oils, and others. Among these, the alpha acids segment holds the majority market share of the global hops derivatives market owing to higher humulone content observed in the hops flower.
The global market for hops derivatives is segmented based on application into alcoholic beverages (beer), cosmetics, the pharmaceutical industry, and others. Among these, the beverage (beer) industry is leading the global market share and is likely to grow substantially over the evaluation period. The reason for this massive adoption in the industry is due to the ability of hops derivatives as stabilizing agents for the beer industry.
The global market for hops derivatives has been segmented based on distribution channel, into store-based (supermarkets/hypermarkets, convenience stores, specialty retailers, and others), and non-store based (which comprises of e-commerce). Sales through store-based channels are leading the market owing to the convenient one-stop shopping experience, which is preferred by consumers.
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Regional Analysis
The global market for hops derivatives is analyzed in North America, Asia Pacific, Europe, and Rest of the World (RoW). Among these, North America holds the significant market share followed by the European region in the global market.
North American region is projected to witness momentous growth during the forecast period. The changing dietary habits with the increasing prevalence of stomach disorders and other related diseases are expected to be some of the primary reasons for the growing use of hops derived market products in the North American region over the review period. Widespread R&D activities in the North American region driven by the technological advancements taking place are likely to increase the production of hops derivatives in this region.
Europe accounts for the second-largest share for the hops derivative market globally, owing to the massive demand for beer in the region. Beer is one of the staple drinks in many countries of the European region. Thus, the higher demand for beer consequently drives the demand for hops derivatives in the region over the review period. Moreover, there is an established pharmaceutical industry in the region and is also expected to contribute substantially to the global market.
However, Asia Pacific is expected to grow as the fastest-growing market worldwide owing to the emerging market for beverages (beer) and the pharmaceutical industry growth taking place in emerging economies such as India and China over the forecast period.
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