Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, the Global Hopped Malt Extract Market Size is Estimated to Grow from USD 9.08 Billion in 2023 to USD 18.11 Billion by 2033, Growing at a CAGR of 7.15% during the forecast period 2023-2033.
Browse key industry insights spread across 215 pages with 110 Market data tables and figures & charts from the report on the Global Hopped Malt Extract Market Size, Share, and COVID-19 Impact Analysis, By Type (Amarillo, Cascade, Chinook, and Centennial), By Source (Rice, Wheat, Rye, Barley, and Others), By Application (Beverages, Food, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
Hopped malt extract provides a bitter taste and is made from barley malt. Growing consumer preferences, especially among younger groups, have led to a spike in demand for craft beers made with unusual ingredients and flavor profiles. This change in consumer preferences and the growing demand for craft beers made with high-quality ingredients such as hopped malt extract are driving market expansion. Additionally, hopped malt extracts' accessibility has enabled a sizable portion of consumers to start homebrewing, which has increased demand for these extracts. A major driver of the hopped malt extract industry's expansion is the growing use of hopped malt extracts as flavoring agents in the cereal, bakery, and confection industries. In addition to being used in the production of liquor, hopped malt extract is also used as a flavoring agent in early cereals, confections, and baked goods. Moreover, it is employed in the creation of marinades, glazes, coatings, sauces, and non-alcoholic drinks. Customers have a clear preference for food products that contain hopped malt extract as an ingredient due to their rising desire for natural flavorings and their awareness of health advantages including vitamin B content and antioxidant qualities. However, several key obstacles are holding back the business, including an absence of raw materials and a lack of awareness of the many uses for hopped malt extract.
The cascade segment dominated the largest market share of 35.33% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the type, the hopped malt extract market is categorized into Amarillo, cascade, chinook, and centennial. Among these, the cascade segment dominated the largest market share of 35.33% in 2023 and is expected to grow at a significant CAGR during the forecast period. Cascade hops are known for their adaptability and are frequently used by brewers because of their ability to add unique flavor and aromatic qualities to the final beer. The bitterness and varied flavor profiles of the finished product are greatly enhanced by the Cascade hops, which are distinguished by their distinct lemony taste and strong acidity. They are so often used in the production of a wide variety of beer styles, including Belgian Witbier, American Wheat Beer, India Pale Ale, and American Pale Ale. Demand for strong and distinctively flavored ingredients has increased in line with the growing demand for craft beers worldwide. In the larger framework of the hopped malt extract sector, this dynamic has served to highlight the crucial function that cascade hops play.
The barley segment is anticipated to hold the largest revenue share of the global hopped malt extract market through the projected period.
Based on the source, the hopped malt extract market is classified into rice, wheat, rye, barley, and others. Among these, the barley segment is anticipated to hold the largest revenue share of the global hopped malt extract market through the projected period. Barley's market is driven by its many uses in brewing, animal feed, and health-conscious culinary products. Its many applications guarantee a steady demand. These factors encourage support for the barley segment's expansion.
The beverages segment is estimated to hold the largest revenue share of the global hopped malt extract market and is expected to grow at a significant CAGR through the forecast period.
Based on the application, the hopped malt extract market is divided into beverages, food, and others. Among these, the beverages segment is estimated to hold the largest revenue share of the global hopped malt extract market and is expected to grow at a significant CAGR through the forecast period. The growing popularity of craft beers with unique flavors and aromas has greatly increased the use of hopped malt extract in this market. Hopped malt extract has a significant benefit in that it simplifies the brewing process, saving time and money. This effectiveness has encouraged local breweries to employ malt extracts instead of making them from scratch, which is more labor-intensive. Since they are naturally nutritious, hopped malt extracts are being used more and more in non-alcoholic drinks in addition to alcoholic ones.
North America is expected to hold the largest share of the hopped malt extract market through the forecast period.
North America is expected to hold the largest share of the hopped malt extract market through the forecast period. There is a significant concentration of beer drinkers in the region. The need for hopped malt extract in the region is further increased by its use in the creation of malt-based whiskies. The region's dominance in the overall market is a result of the accessibility of essential ingredients, the widespread practice of homebrewing, and the existence of communities actively promoting craft brews with unique flavor profiles. Positive government policies regarding the brewing sector, encouragement of homebrewing, and strong demand for craft beers have all influenced America's overall beer market.
Asia Pacific is predicted to grow at the fastest CAGR of the hopped malt extract market over the forecast period. An increasing number of younger people in the region are favoring artisanal and craft beers due to changing lifestyles that are marked by urbanization and affluence. Meanwhile, the Asian-Pacific hopped malt extract market is growing as a result of the growing popularity of social drinking and consumers' preference for less alcoholic beverages. A fundamental feature of Chinese culture is the drinking of alcohol, especially during social occasions such as weddings, festivals, and official or professional meetings.
Company Profiling
Major key players in the hopped malt extract market include Muntons, Briess Malt and Ingredients, Coopers, Rahr Corporation, Cargill, Hambleton Bard, BrewDemon, Cerex, Brewferm, Oechsle International, Mangrove Jack’s, France Malte, and others.
Recent Developments
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the hopped malt extract market based on the below-mentioned segments:
Global Hopped Malt Extract Market, By Type
Global Hopped Malt Extract Market, By Source
Global Hopped Malt Extract Market, By Application
Global Hopped Malt Extract Market, By Regional Analysis
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