Overview and Scope
The hopped malt extract are used for the aromatic and bittering features it can provide to the completed beer. Hopped malt extract refers to a malt extract that is added to eliminate variables from brewers to keep brewing simple. These hopes are available in both dried and concentrated forms. That is made by crushing and mashing malted grains.
Sizing and Forecast
The hopped malt extract market size has grown strongly in recent years. It will grow from <b>$9.23 billion in 2023 to $10.12 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. </b> The growth in the historic period can be attributed to traditional use of hopped malt extract in brewing and homebrewing, growth in the craft beer industry and homebrewing enthusiasts, convenience and time efficiency of using hopped malt extracts
availability of a wide range of malt varieties and hop combinations, expansion of microbreweries and homebrew supply stores.
The hopped malt extract market size is expected to see strong growth in the next few years. It will grow to <b>$14.55 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. </b> The growth in the forecast period can be attributed to increasing adoption of extract brewing among novice brewers, innovation in hopped malt extract formulations and flavors, demand for gluten-free and allergen-friendly brewing ingredients, sustainable sourcing and production practices for malt and hops, emerging markets and growing beer consumption worldwide. Major trends in the forecast period include single-varietal and single-hop extracts, adjunct ingredients in extracts, functional ingredients and nutraceutical additions, eco-friendly packaging and sustainability, online brewing communities and forums.
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Segmentation & Regional Insights
The hopped malt extract market covered in this report is segmented –
1) By Type: Cascade, Amarillo, Centennial, Chinook
2) By Source: Wheat, Barley, Rice, Rye, Other Sources
3) By Nature: Organic, Conventional
4) By End-User: Brewing Industry, Alcoholic, Non Alcoholic, Baking Industry, Confectionery, Animal Feed, Other End-Users
<b>North America</b> was the largest region in the hopped malt extract market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the hopped malt extract market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing popularity of craft beer is expected to propel the growth of the hopped malt extract market going forward. Craft beer refers to beer produced in a traditional and independent brewery in small batches instead of mass production. Craft beer provides a richer and more distinct taste than other beers, having a unique blend of ingredients. Hopped malt is used in the preparation of craft beer to get an aromatic and bittering taste to the beer. For instance, according to Brewers Association, a US-based beverages promotion agency, in 2021, in the US, the craft brewer volume sales grew by 8% with retail dollar sales of craft beer increasing by 21%, to $26.8 billion. Therefore, the growing popularity of craft beer is driving the growth of the hopped malt extract market.
Key Industry Players
Major companies operating in the hopped malt extract market include <b> CereX B.V., Coopers International Limited, Hambleton Bard Ltd., Mangrove Jacks, Muntons Ingredients Plc, BrewDemon Co., Brewtec Bulk Malt, Hopsteiner, Brewferm Ltd., Brewof Brewing Holdings Limited, Brouwland, Black Rock Brewing Company, Briess Malt & Ingredients Company, Koninklijke DSM N.V., Briess Malt & Ingredients Co., Bairds Malt Ltd., Simpsons Malt Ltd., Crisp Malting Group, Weyermann Specialty Malts, Castle Malting SA, Muntons Ingredients Plc, Great Western Malting Co., Rahr Malting Co., Malteurop Groupe, GrainCorp Malt Ltd., Maltexco S.A., Malt Products Corporation, BSG CraftBrewing Group, Yakima Chief Hops, John I. Haas Inc., Barth-Haas Group, Charles Faram & Co. Ltd., Hopco Pty Ltd., Simply Hops Ltd., Crosby Hop Farm LLC, Hop Head Farms, Hop Revolution, Yakima Chief Hops, New Zealand Hops Ltd. </b>
The hopped malt extract market report table of contents includes:
1. Executive Summary
2.Hopped Malt Extract Market Characteristics
3.Hopped Malt Extract Market Trends And Strategies
4. Hopped Malt Extract Market analysis
5.Hopped Malt Extract Market Size And Growth
6.Hopped Malt Extract Segmentation
7.Hopped Malt Extract Regional And Country Analysis
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27.Hopped Malt Extract Competitive Landscape And Company Profiles
28.Hopped Malt Extract Key Mergers And Acquisitions
29.Hopped Malt Extract Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- CereX B.V.
- Coopers International Limited
- Hambleton Bard Ltd.
- Mangrove Jacks
- Muntons Ingredients Plc
- BrewDemon Co.
- Brewtec Bulk Malt
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