Market Size of Hops Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 8.64 Billion |
| Market Size (2029) | USD 11.95 Billion |
| CAGR (2024 - 2029) | 6.70 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Hops Market Analysis
The Hops Market size is estimated at USD 8.64 billion in 2024, and is expected to reach USD 11.95 billion by 2029, growing at a CAGR of 6.70% during the forecast period (2024-2029).
- The hop plant is a member of the cannabaeceae family, mainly used in bittering, flavoring, and as stability agents in beer. Hops are also used for several purposes in other beverages and medicinal herbs. A transitional shift in the demand for bittering hops from aroma varieties and a positive trajectory in the growth of craft breweries across the world are driving the global hops market.
- According to the United States Department of Agriculture (USDA), the United States continues to be the leading supplier with a 96% market share. Hong Kong re-exported 72% of its hop imports to other markets in the region, retaining 28% for local breweries. Despite the COVID-19 pandemic, domestic beer sales were stable, reaching USD 867 million in 2022, and will grow to USD 1.1 billion by 2026. The steady growth of beer sales is likely to encourage more local breweries to boost their production, increasing demand for US-quality hops. This will boost the growth of the hops market in the coming years.
- Europe was the fastest-growing market in 2021, with the United Kingdom and France leading the regional market. The United Kingdom imported 1,279 metric tons of hop cones in 2021, followed by France, with total imports of 684 metric tons during the same year. Apart from imported hops, Europe has also witnessed a steady revival in the cultivation of hops in Germany, where the production stood at 8.7 million metric tons in 2020, which has increased compared to the previous year. These factors are boosting the region to grow in the coming years.
Hops Industry Segmentation
Hops are the flowers of the hop plant Humulus lupulus, which are primarily used as a bittering, flavoring, and stability agent in beer. For the purpose of the study, fresh or dried hop cones with the HS code 121010, as per the UN Comtrade statistical database, have been considered under the scope.
The global hops market is segmented by geography (North America, Europe, Asia-Pacific, and South America and Africa). The report includes production analysis (volume), consumption analysis (value and volume), export analysis (value and volume), import analysis (value and volume), and price trend analysis.
The report offers the market size and forecast in both value (USD million) and volume (metric ton).
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Hops Market Size Summary
The hops market is poised for significant growth, driven by the increasing demand for bittering hops and the expansion of craft breweries worldwide. Hops, a crucial ingredient in beer production, are also utilized in other beverages and medicinal applications. The market is experiencing a shift in preference from aromatic to bittering hops, largely due to the rising popularity of craft beer. The United States remains a dominant player in the market, with a substantial share of global production, while Europe is witnessing rapid growth in both hop imports and domestic cultivation. The region's demand for hops is fueled by its status as the largest beer-consuming area globally, with countries like Germany and the Czech Republic leading in consumption.
The market's expansion is further supported by strategic initiatives from key industry players and the establishment of new craft breweries, particularly in the United States and Germany. Despite challenges such as climate impacts and geopolitical tensions affecting supply chains, the overall outlook for the hops market remains positive. Innovations in hop processing and product offerings, such as those by BarthHaas and Crosby Hops, are expected to enhance production efficiency and sustainability. As the market continues to evolve, it is anticipated to witness robust growth, driven by both consumer preferences and industry advancements.
Hops Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain Analysis
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2. MARKET SEGMENTATION
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2.1 Geography
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2.1.1 North America
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2.1.1.1 United States
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2.1.1.1.1 Production Analysis
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2.1.1.1.2 Consumption Analysis & Market Size
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2.1.1.1.3 Import Market Analysis (Volume & Value)
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2.1.1.1.4 Export Market Analysis (Volume & Value)
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2.1.1.1.5 Price Trend Analysis
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2.1.1.2 Canada
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2.1.1.2.1 Production Analysis
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2.1.1.2.2 Consumption Analysis & Market Size
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2.1.1.2.3 Import Market Analysis (Volume & Value)
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2.1.1.2.4 Export Market Analysis (Volume & Value)
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2.1.1.2.5 Price Trend Analysis
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2.1.2 Europe
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2.1.2.1 Germany
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2.1.2.1.1 Production Analysis
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2.1.2.1.2 Consumption Analysis & Market Size
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2.1.2.1.3 Import Market Analysis (Volume & Value)
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2.1.2.1.4 Export Market Analysis (Volume & Value)
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2.1.2.1.5 Price Trend Analysis
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2.1.2.2 United Kingdom
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2.1.2.2.1 Production Analysis
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2.1.2.2.2 Consumption Analysis & Market Size
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2.1.2.2.3 Import Market Analysis (Volume & Value)
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2.1.2.2.4 Export Market Analysis (Volume & Value)
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2.1.2.2.5 Price Trend Analysis
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2.1.2.3 Russia
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2.1.2.3.1 Production Analysis
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2.1.2.3.2 Consumption Analysis & Market Size
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2.1.2.3.3 Import Market Analysis (Volume & Value)
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2.1.2.3.4 Export Market Analysis (Volume & Value)
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2.1.2.3.5 Price Trend Analysis
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2.1.2.4 Czech Republic
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2.1.2.4.1 Production Analysis
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2.1.2.4.2 Consumption Analysis & Market Size
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2.1.2.4.3 Import Market Analysis (Volume & Value)
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2.1.2.4.4 Export Market Analysis (Volume & Value)
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2.1.2.4.5 Price Trend Analysis
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2.1.2.5 Belgium
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2.1.2.5.1 Production Analysis
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2.1.2.5.2 Consumption Analysis & Market Size
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2.1.2.5.3 Import Market Analysis (Volume & Value)
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2.1.2.5.4 Export Market Analysis (Volume & Value)
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2.1.2.5.5 Price Trend Analysis
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2.1.2.6 Poland
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2.1.2.6.1 Production Analysis
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2.1.2.6.2 Consumption Analysis & Market Size
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2.1.2.6.3 Import Market Analysis (Volume & Value)
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2.1.2.6.4 Export Market Analysis (Volume & Value)
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2.1.2.6.5 Price Trend Analysis
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2.1.2.7 Slovenia
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2.1.2.7.1 Production Analysis
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2.1.2.7.2 Consumption Analysis & Market Size
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2.1.2.7.3 Import Market Analysis (Volume & Value)
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2.1.2.7.4 Export Market Analysis (Volume & Value)
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2.1.2.7.5 Price Trend Analysis
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2.1.3 Asia-Pacific
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2.1.3.1 China
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2.1.3.1.1 Production Analysis
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2.1.3.1.2 Consumption Analysis & Market Size
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2.1.3.1.3 Import Market Analysis (Volume & Value)
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2.1.3.1.4 Export Market Analysis (Volume & Value)
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2.1.3.1.5 Price Trend Analysis
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2.1.3.2 Australia
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2.1.3.2.1 Production Analysis
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2.1.3.2.2 Consumption Analysis & Market Size
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2.1.3.2.3 Import Market Analysis (Volume & Value)
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2.1.3.2.4 Export Market Analysis (Volume & Value)
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2.1.3.2.5 Price Trend Analysis
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2.1.3.3 Vietnam
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2.1.3.3.1 Production Analysis
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2.1.3.3.2 Consumption Analysis & Market Size
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2.1.3.3.3 Import Market Analysis (Volume & Value)
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2.1.3.3.4 Export Market Analysis (Volume & Value)
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2.1.3.3.5 Price Trend Analysis
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2.1.4 South America
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2.1.4.1 Brazil
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2.1.4.1.1 Production Analysis
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2.1.4.1.2 Consumption Analysis & Market Size
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2.1.4.1.3 Import Market Analysis (Volume & Value)
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2.1.4.1.4 Export Market Analysis (Volume & Value)
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2.1.4.1.5 Price Trend Analysis
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2.1.5 Africa
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2.1.5.1 South Africa
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2.1.5.1.1 Production Analysis
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2.1.5.1.2 Consumption Analysis & Market Size
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2.1.5.1.3 Import Market Analysis (Volume & Value)
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2.1.5.1.4 Export Market Analysis (Volume & Value)
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2.1.5.1.5 Price Trend Analysis
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2.1.5.2 Ethiopia
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2.1.5.2.1 Production Analysis
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2.1.5.2.2 Consumption Analysis & Market Size
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2.1.5.2.3 Import Market Analysis (Volume & Value)
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2.1.5.2.4 Export Market Analysis (Volume & Value)
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2.1.5.2.5 Price Trend Analysis
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Hops Market Size FAQs
How big is the Hops Market?
The Hops Market size is expected to reach USD 8.64 billion in 2024 and grow at a CAGR of 6.70% to reach USD 11.95 billion by 2029.
What is the current Hops Market size?
In 2024, the Hops Market size is expected to reach USD 8.64 billion.
