Hop extracts that comprise dried flowering parts in the hop plant has found diverse uses in the cosmetics, health, and pharmaceutical sectors. Most prominently, hops extracts are utilized in the medicinal formulations. They are used variously to manage anxiety, sleep disorders, anxiety, insomnia, and attention deficit-hyperactivity disorder (ADHD). The medicinal applications is quite vast and is growing on the back of research on utilizing plant-based extracts in medicines for hard-to-manage diseases. The hops extract market is witnessing researchers who are testing the potential of those extracts in various types of cancer in breast cancer, ovarian cancer, prostate cancer, high cholesterol, bladder infections, and tuberculosis.
More recently, the hop extract market has been attracting interest of brewers to get a unique, distinctive aroma for beer. Specifically, they are used to improve the utilization of the alpha acids which plays a key role in shaping the final aroma, particularly to provide bitterness. In this regard, CO2 hop extracts are gaining popularity. They also play role in variety-specific contributions. Further, their role in improving the stability of acids in brewing has been discussed among end users in the hops extract market.
The growing preference of beer over other alcoholic beverages is a key trend in the hops extract market. The developing world is witnessing a rapid rise in the utilization of hops extracts by brewers. The trend is supported by rising disposal incomes of the populations over the past few years. Moreover, advances made in the brewing processes in developed world has positively influence the growth dynamics of the hops extract market. Some of the key benefits that brewers get in using hops extract are low cost of production, high-shelf life of the final product, and less time in getting a variety of aromas.
Rising consumption of beers in restaurants is also boosting the growth of the hops extract market. Manufacturers are launching various hops extract flavors, thereby expanding the avenue in the market.
Key extract varieties are perle hops, hersbruck spaet hops, opa hops, cascade hops, centennial hops, and cluster hops. Key product types in the hops extract market can be isomerized extract, oil extract, and CO2 extract.
The study offers critical assessment of key growth drivers and restraining factors, promising avenues, key impediments to market players, especially to Covid 19 supply restrictions. The report takes a closer look at the recent manufacturing advances and the key product portfolio of top players.
Brewing companies are experimenting with variety-specific hop character to meet the new sensibilities of beer connoisseurs. Hops extracts have been instrumental in polyphenol flavor contributions. Growing number of bars and relaxation points in urban and suburbs in developing economies has offered vast revenue streams to players in the hops extract market.
Some of the promising players in the hops extract market are:
The various geographical markets for hops extracts are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. One of the most attractive markets is Asia Pacific. The opportunities in the regional market is being driven by the diverse use that hops extracts are being put to, including the medicinal use. The revenues in Asia Pacific are also spurred by brewers ramping up investment in boosting their production capacities. North America is also a promising market. The regional market is expected to make promising strides on the back of utilization of these extracts in managing health conditions.
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