Hopped Malt Extract Market Trends and Forecast

Beer is one of the most popular alcoholic beverages in the world, and it is made from a combination of water, hops, yeast, and malted barley. Malt extract is a concentrated form of malted barley that is used in the brewing process to provide the fermentable sugars that yeast needs to produce alcohol. Hopped malt extract is a type of malt extract that has been infused with hops, which gives it a bitter flavor and aroma that is characteristic of beer.

Overview

The global hopped malt extract market is expected to grow at a CAGR of 5.2% during the forecast period (2021-2026). The increasing demand for craft beer and the growing popularity of home brewing are the major factors driving the growth of the hopped malt extract market. Hopped malt extract is widely used in the production of craft beer, which is gaining popularity among consumers due to its unique flavors and aromas.

The hopped malt extract market is also driven by the increasing demand for organic and natural ingredients in the food and beverage industry. Hopped malt extract is a natural ingredient that is free from artificial flavors and preservatives, making it a popular choice among health-conscious consumers.

Key Players in the Hopped Malt Extract Market Trends and Forecast

The key players in the hopped malt extract market include Briess Malt & Ingredients Co., Muntons plc, Simpsons Malt Limited, Bairds Malt Limited, Crisp Malting Group, and others. These companies are focusing on product innovation and expanding their product portfolio to cater to the growing demand for hopped malt extract in the global market.

Market Challenges

One of the major challenges faced by the hopped malt extract market is the availability of raw materials. Malted barley, which is the primary raw material used in the production of hopped malt extract, is subject to price fluctuations due to weather conditions and other factors. This can affect the profitability of hopped malt extract manufacturers and limit the growth of the market.

Another challenge faced by the hopped malt extract market is the increasing competition from substitutes such as liquid malt extract and dry malt extract. These substitutes offer similar benefits to hopped malt extract and are often more cost-effective, which can limit the demand for hopped malt extract in the global market.

Market Opportunities

The hopped malt extract market offers several opportunities for growth in the coming years. The increasing demand for craft beer and the growing popularity of home brewing are expected to drive the demand for hopped malt extract in the global market. The rising trend of using natural and organic ingredients in the food and beverage industry is also expected to create opportunities for hopped malt extract manufacturers.

The hopped malt extract market also offers opportunities for expansion in emerging markets such as Asia-Pacific and Latin America. The increasing disposable income and changing consumer preferences in these regions are expected to drive the demand for hopped malt extract in the coming years.

Future of Hopped Malt Extract Market Trends and Forecast

The hopped malt extract market is expected to continue growing in the coming years, driven by the increasing demand for craft beer and the growing popularity of home brewing. The market is also expected to benefit from the rising trend of using natural and organic ingredients in the food and beverage industry.

However, the market is likely to face challenges from the availability of raw materials and increasing competition from substitutes. To overcome these challenges, hopped malt extract manufacturers need to focus on product innovation and expanding their product portfolio to cater to the changing needs of consumers.

Conclusion

The hopped malt extract market is expected to grow at a steady pace in the coming years, driven by the increasing demand for craft beer and the growing popularity of home brewing. The market offers several opportunities for growth, particularly in emerging markets such as Asia-Pacific and Latin America. However, the market is likely to face challenges from the availability of raw materials and increasing competition from substitutes. To overcome these challenges, hopped malt extract manufacturers need to focus on product innovation and expanding their product portfolio to cater to the changing needs of consumers.