Hops and Adjuncts Market Witnesses 7.2% Supply Growth, Thriving with 62,000 Hectares Expansion | ELINT Market Research 

Hops and Adjuncts Market Witnesses 7.2% Supply Growth, Thriving with 62,000 Hectares Expansion | ELINT Market Research

According to the ELINT Market Research report, the hops and adjuncts market expects a bright future. Based on the research, the cultivation rate is higher globally from last year to this one. What’s more noteworthy is that this resulted in a growth rate of 0.88%. A considerable increase of 62,000 hectares in cultivation area caused a substantial growth rate. As per the market trend, the beverage industry needs more hops and additives, so there is a quest to enhance cultivation region to produce more quantity, which will positively affect the market.

The increase in global production has been the critical factor contributing to the optimistic scenario. Based on the ELINT Market Research’s latest findings, the hops and adjuncts market witnesses growth at a healthy CAGR of 7.2% from 2021 to 2022. According to the study, the industry anticipates to produce about 130 thousand metric tons in the future. This significant increase in availability proves that the sector is flourishing and can efficiently manage the variations in inhabitant behavior and environmental conditions. With the massive supply of hops and added ingredients, there’s been a stable foundation for the market to adapt to consumers’ demands regularly.

Renaissance of Craft Breweries and Surge in Beer Consumption to Boost Market Growth

The demands of the hop and adjuncts industry greatly depend on the market trends that are constantly emerging. As a result of these changes, directions on what hops and adjuncts may change significantly in the coming years. The global brewery industry is witnessing a significant shift where people opt for craft beer, owing to artisans and specialists’ higher creativity and quality. The growing fascination with artisanal brewing fosters the importance of discovering new flavors. As a result, there is a surge in demand for different types of hops and other components. Leading brewers are constantly progressing to form a unique flavor profile that makes their brand stand out in the dynamic hops and adjuncts market. It has led to a broader acceptance and awareness of different beer styles. In addition, the entry of several promising startups in the industry creates healthy competition, which forces existing players to bring uniqueness to their offerings and stay in the race to attract consumers. 

Key Highlights for the Hops and Adjuncts Market 

    • The hops and adjuncts market is witnessing higher traction with the significant influence of independent breweries. As per the forecast, this field will continue to reign supreme from 2023 to 2026, highlighting its significance. According to this research, craft breweries have more consistent and long-lasting success when compared with other beverage types.

    • Regarding production level, Europe stands at the top with a 55% share. Following the trend, the US also proves its significance with a share of 36%. On the other side, the Asia Pacific and Australia are witnessing major dynamics, making them vital sectors with a share of 6% and 2%, respectively.

    • The Czech Republic has been a significant player in the market for the past few years by booking all their inventory for the upcoming year. Larger economies such as the US, France, and Australia usually have about 95% of their future contracts pre-booked.

Hops and Adjuncts Market Regional Dynamics

    • The European market owns a significant share of more than 55% of the adjuncts industry and hops. The United States of America holds the second slot among countries having the most critical portion of the market share with a 36% stake. Germany is a crucial member of the EU, which makes it actively involved in global trade. The economic impact of Germany is primarily due to the 12% portion of imports and 47% portion of exports that it makes.

    • In the US market, a specific supply pattern for hops meets their unique requirements. Two primary hop types are part of brewing: bittering and aromatic. 61% of the total hops are aromatic, and 39% are bitter. American brewers mainly preferred to infuse hops into distilling procedures.

    • In 2021, Belgium outperformed all other countries in the barley and malts industry by a significant growth rate of 69.18%. Belgium has shown remarkable growth that separates it from the others in the industry. Belgium has grabbed global attention due to the rise of new breweries in this sector, emphasizing a close check on this region for future changes.

Notable Developments in the Hops and Adjuncts Market 

    • The recently launched beer, “Next Luponic Distortion IPA,” was designed by the famous brewery Firestone Walker. Craft beer lovers eagerly await this new series episode as it brings something unique.

    • The latest product from Crosby Hops, CGX, is a dried hop one. The company has decided to extend its product line by introducing new products. The most recent addition to the range of CGX is The CGX cryogenically processed lupulin pellets.

Leading Players in the Hops and Adjuncts Market 

With the continuously changing standards of the hops and adjuncts field, competition is becoming more and more fierce because of the involvement of companies of all sizes. Some outstanding organizations in this field are Hopsteiner, Yakima Valley, and Mill 95, and they are significant players in shaping the market dynamics. These players try to be different from others by creating plans and using the available resources, which sets them apart in the competitive environment. 

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