Hopped Malt Extract Market Is Estimated To Witness
High Growth Owing To Rising Popularity Of Craft Beer

Hopped malt
extract is used primarily in craft beer production as an alternative to malt in
order to impart distinct hop flavors and bitterness levels. It is produced
through a multi-step process which involves steeping malted barley in hot water
to release fermentable carbohydrates, hopping the wort, concentrating it
through evaporation and spray drying to obtain a powdered form. The powder
dissolves easily in water allowing precise addition of hop flavors and
bitterness to beer recipes. Craft brewers prefer hopped malt extracts as they
save time and labor compared to adding hops directly in the mash or boil. The
global craft beer market has been growing rapidly, driven by the rising
popularity of specialty beers among young consumers who are willing to
experiment with new flavors. As craft brewers continue to expand and launch
innovative brews, demand for hopped malt extracts from this segment is forecast
to increase substantially.



The global Hopped Malt Extract Market is estimated to be valued at US$ 9.41 Bn in 2023 and is expected to
exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in
a new report published by Coherent Market Insights.



Market Dynamics:



One of the key drivers for the growth of the hopped malt extract market is the
rising popularity of craft beer. As mentioned earlier, the global craft beer
market has witnessed a consistent growth over the past few years owing to
changing consumer preferences. Young consumers in particular are experimenting
with new flavors and types of craft beers produced by smaller scale breweries.
This has significantly boosted demand for specialty ingredients like hopped
malt extracts which provide craft brewers flexibility to create unique beer
recipes. According to the Brewers Association, in 2020, craft brewers accounted
for over 24% of the US beer market volume. This rapid growth of the craft beer
industry worldwide is expected to drive higher consumption of hopped malt
extracts during the forecast period.



SWOT Analysis

Strength: Hopped Malt Extract has many health benefits which drives its demand.
It is rich in vitamins and minerals. The use of natural ingredients makes it
easy to digest.

Weakness: The production process of Hopped Malt Extract is complex and requires
sophisticated equipment. This increases the cost of production. Also, frequent
changes in climatic conditions can affect the quality and yield of crops used
to make it.

Opportunity: Growing health consciousness is prompting people to look for
nutritional food and beverages. This provides an opportunity to market Hopped
Malt Extract as a healthy alternative. The rising young population also
presents a lucrative customer segment.

Threats: Stringent regulations regarding the usage of crops like hops can
negatively impact supply. Substitute products in the form of other plant-based
extracts can emerge as competition.



Key Takeaways

The global Hopped
Malt Extract Market Growth  is
expected to witness high growth over the forecast period of 2023 to 2030. The
market size is projected to reach US$ 9.41 billion by 2024, growing at an
estimated CAGR of 6.3%.



Regional analysis comprises

North America currently dominates the Hopped Malt Extract market due to factors
like focus on craft beer production and increased health awareness. The US
accounts for the major share in the region. Europe holds the second position
led by countries like Germany, UK and Belgium. The Asia Pacific region is
expected to showcase the fastest growth on account of improving economies,
changing lifestyles and rising disposable incomes in developing nations such as
India and China.



Key players related content comprises

Key players operating in the Hopped Malt Extract market are Koninklijke DSM
N.V., Muntons plc, Associated British Foods plc, The Malt Company, IREKS
GmbH,Doehler, Briess Malt & Ingredients Co., Malteries Soufflet, PureMalt,
and Huajia Food Technology. Koninklijke DSM N.V. and Muntons plc have a
significant market share.

For more insights, read- https://www.pressreleasebulletin.com/hopped-malt-extract-market-trends-size-and-share-analysis/