Growing application of hops in various end-use industries such as pharmaceutical, beer, cosmetics, and others is fueling the growth of the global hops derivative market. Hops are flowers of hop plant. Hop derivatives are compounds that are synthesized by chemical processes. This process leads to the production of one or more compound with identical structural homology to a lupulone, humulone, or adlupulone.
An upcoming research report from TMR on the global hops derivative market provides comprehensive study of key factors impacting positively or negatively on overall market growth. Apart from this, the report presents dependable data on shares, volume, and revenues of the market for hops derivative. It includes precise data and analysis on key segments and regions along with competitive analysis of this market. Thus, the report works as a valuable guide of the hops derivative market for the forecast period of 2020–2030.
The global hops derivative market is segmented on the basis of various key factors such as chemical composition, application, distribution channel, and region. Based on chemical composition, the market for hops derivative is bifurcated into essential oils, beta acids, alpha acids, and flavonoids other.
In beer industry, hops flowers are in high demand owing to their application as a flavoring, bittering, and stability agent in the production of beer. This aside, hops derivative hold an ability to impart fruity, floral, or citrus flavors and aromas to beer. As a result, beer manufacturers from worldwide locations are increasing demand avenues in the global hops derivative market. Growing demand for beer from all across the world is indirectly supporting the growth of the global hops derivative market.
The global hops derivative market is gaining lucrative avenues from pharmaceutical industry. Key reason attributed to this growth is growing use of hops derivatives in the manufacturing of various medicinal drugs. Apart from this, hops derivatives are in high demand among companies engaged in the production of various tonics intended for treating insomnia and improving appetite. This aside, hops derivative market finds considerable demand avenues from cosmetics industry.
The global hops derivative market is moderately fragmented. With presence of significant number of companies, the competitive landscape of the market for hops derivative is highly intense. Major enterprises working in this market are growing efforts to advance the quality of their products. This aside, several players are growing focus on strengthening their distribution channels. Growing product launch activities by the key vendors are suggestive of prodigious growth of the global hops derivative market in the years ahead.
The list of key players in the global hops derivative market includes:
The global hops derivative market shows presence in four important regions, namely, Asia Pacific, North America, Europe, and rest of the world. Among all regions, North America is one of the prominent regions followed by European market for hops derivative. Remarkable rise in stomach disorders as well as other diseases among major populace in this region is one of the key reasons attributed to this growth. This aside, the hops derivative market is expected to witness stupendous expansion avenues in North America owing to increased research and development activities in this region.