Global Hop Shoots Market Size & Share Expected to Surpass USD 15.1 Billion by 2030, Growing at 4.6% CAGR During 2023-2030 Forecast Period

Houston, TX, Feb. 28, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Ausmauco Biotech Co., Limited, Hopsteiner, Barth-Haas Group, The Hop Planter Association Tettnang E.V., DVKSP Impex Pvt. Ltd., Nanjing NutriHerb BioTech Co., Ltd, Agrifarming, Imperial Malts Limited, Sv Agrofood, Navchetana Kendra Health Care Private Limited, Ayush Herbals & Healthcare Private Limited, Navchetana Kendra Health Care Private Limited, Dev Lifesciences Pvt Ltd, Sudhanta Herbal Products, and Phyto herbal” in its research database.

“According to the latest research study, the demand of global Hop Shoots Market size & share in terms of revenue was valued at USD 8.1 billion in 2022 and it is expected to surpass around USD 15.1 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 4.6% during the forecast period 2023 to 2030.”

What are Hop Shoots? How big is the Hop Shoots Industry?

Hop Shoots Report Coverage & Overview:

Hops are flowers of the plant Humulus lupulus, which is a member of the Cannabaceae family of flowering plants. Moreover, hops are utilized as flavoring, bittering, and stability agents in beer. These flowers are also used in various beverages and herbal medicine. Reportedly, the hop shoots are divided into male and female plants. However, only female plants are utilized for commercial production. A large number of hop varieties are grown by farmers across the globe for varied kinds of beer.

The production of hops not only depends on climatic conditions but also on inertance. Hop is a perennating plant offering a full-value yield in the third year of the plant harvest. Moreover, it requires massive investments in new planting areas as well as in maintaining operating areas.

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Global Hop Shoots Market: Growth Dynamics

Growth of the global hop shoots market over the assessment period can be attributed to its medicinal features that can help in effectively treating anxiety, insomnia, and other sleep disorders. Furthermore, hop has the ability to treat restlessness, nervousness, stress, and attention-deficit/hyperactivity disorder (ADHD). Apart from this, it relieves indigestion and other medicinal illness in an individual.

Anti-oxidant and anti-inflammatory features have enhanced the popularity of hop shoots across the globe. The ability of the product in treating skin disorders has further enhanced the scope of the global market growth. The increase in the number of craft breweries and the rise in the consumption rate of hop have boosted the global market trends.

As per the survey carried out by The Brewers Association, the use of hop during beer production by craft beer manufacturers and particular brewers has increased continuously since 2009. For the record, in 2015-2016, the use of hop per unit volume of beer was increasing by 6% y-o-y.

However, the high cost of cultivating hop can result in a decline in the expansion of the global hop shoots industry. Nevertheless, the thriving brewing industry has contributed majorly towards the demand for the hop as well as massive hop production, thereby creating huge growth avenues for the industry across the globe.

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Report Scope

Hop Shoots Market: Segmentation Analysis

The global hop shoots industry is divided into type, application, and region.

Based on the type, the global hop shoots industry is divided into bittering hop shoots, aroma hop shoots, wild hop shoots, and green hop shoots.

Moreover, the wild hop shoots segment is predicted to dominate the type segment over the forecast period owing to its enriched vitamin contents such as vitamin B9 and vitamin C. Apart from this, it possesses a rich source of new functional dietary ingredients. All these health-benefiting features have provided the impetus to segmental growth.

In terms of application, the global hop shoots market is bifurcated into herbal medicine, soft drinks, herbal teas, and beer segments. Moreover, the beer segment is anticipated to lead the application space in the years to come.

The growth of the segment from 2023 to 2030 can be a result of the large-scale application of hops as flavoring agents in various kinds of beer. Furthermore, various kinds of hops are cultivated in the farming industry for brewing purposes to manufacturing beers with a specific flavor and taste.

The global Hop Shoots market is segmented as follows:

By Type

• Bittering Hop Shoots
• Wild Hop Shoots
• Green Hop Shoots
•  Aroma Hop Shoots

By Application

• Beer
• Soft Drinks
• Herbal Teas
•  Herbal Medicine

Browse the full “Hop Shoots Market By Type (Bittering Hop Shoots, Wild Hop Shoots, Green Hop Shoots, And Aroma Hop Shoots), By Application (Beer, Soft Drinks, Herbal Teas, And Herbal Medicine), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/hop-shoots-market

Competitive Landscape

Some of the main competitors dominating the global Hop Shoots market include - 

• NutriHerb BioTech Co. Ltd
• Ausmauco Biotech Co. Limited
• Sudhanta Herbal Products
• Hopsteiner
• Barth-Haas Group
• Navchetana Kendra Health Care Private Limited
• The Hop Planter Association Tettnang E.V.
• DVKSP Impex Pvt. Ltd.
• Nanjing Agrifarming
• Imperial Malts Limited
• Sv Agrofood
• Ayush Herbals & Healthcare Private Limited
• Dev Lifesciences Pvt Ltd
• Phyto herbal

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Hop Shoots market is likely to expand at a CAGR of around 4.6% during the forecast period (2023-2030).                                            
• In terms of revenue, the Hop Shoots market size was valued at around US$ 8.1 billion in 2022 and is projected to reach US$ 15.1 billion by 2030.
• The hop shoots industry is anticipated to record massive growth over the forecast period due to growing health benefits offered by hops owing to its anti-oxidant and anti-inflammatory features along with its ability to offer protection to individuals against various kinds of infections.
• Based on type, the wild hops segment contributed to a major share of the global market in 2022
• In terms of application, the beer segment is set to contribute lucratively towards the overall market volume during the predicted timespan.
• Region-wise, Europe is anticipated to be the key regional revenue pocket of the global market during the projected timeframe.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Hop Shoots industry?
• What are the main driving factors propelling the Hop Shoots Market forward?
• What are the leading companies in the Hop Shoots Industry?
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Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Type, By Application, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The European Hop Shoots industry is anticipated to register remarkable growth over the forecast timeline. The growth of the regional market over 2023-2030 can be ascribed to a rise in hop cultivation in the countries such as Germany and the UK.

Though Germany has abundant raw materials for hop production for beer, it along with the USA is the highest importer of hop due to myriad demand for different beer tastes, high volumes of hop consumption in the country, and traditional German specification for bitter hop varieties.

The rise in sales of beer in western Europe has contributed immensely to the regional market trends. A surge in demand for light beer has driven the growth of the market in the region.

Reportedly, the two centers of hop production across the globe are the EU and the U.S. Key hop growing areas are localized in particular territories.

For instance, Hallertau valley in Germany and town Žatec in the Czech Republic in Europe. In these two regions, approximately 75% of the European hop is harvested. Reportedly, nearly 50% of European hop cultivation is accounted by bittering hops and the rest is accounted by aroma hops.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

In the second half of 2021, Yakima Chief Hops, a key U.S.-based supplier of hops, launched a program referred to as the frozen fresh hops program for making fresh hop ales for the global craft beer industry. Reportedly, fresh hop ales are popular in the U.S. craft beer industry. Moreover, Yakima introduced the program after developing frozen fresh hops in association with Wyckoff Farms, which possesses expertise in manufacturing and preserving high-quality frozen agricultural items. The move will boost the demand for hops in the US. And North American region.

In April 2021, Hoplark, a key brewer of hop-based non-alcoholic drinks, launched Hoplark Water, a hop-infused sparkling water available in three distinct flavors, namely, Sabro Hops, Citra Hops, and Mosaic Hops. Reportedly, the new product is healthy and is made up of aromatic & flavored hops and sparkling water and contains no alcohol. The initiative will increase the gains for the hop shoots market in the U.S. and across the globe.

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FREQUENTLY ASKED QUESTIONS

• What is hop shoots material?
• Which key factors will influence global hop shoots market growth over 2023-2030?
• What will be the value of the global hop shoots market during 2023-2030?
• What will be the CAGR value of the global hop shoots market during 2023-2030?
• Which region will contribute notably towards the global hop shoots market revenue?
• Which are the major players leveraging the global hop shoots market growth?

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