The hopped malt extract market has witnessed substantial growth in recent years owing to the increasing popularity of craft beer globally. Hopped malt extract provides an ideal base for brewing craft beer as it reduces the brewing process and offers consistency in taste and flavor. It contains concentrated wort made from barley malt and hops. Hopped malt extracts allow homebrewers and smaller craft brewers to easily reproduce commercial styles of beer using pre-hopped wort. The global hopped malt extract market provides a cost-effective solution for craft breweries to produce beers with complex flavors.
The global hopped malt extract market is estimated to be valued at US$ 9.41 Bn in 2024 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 key trends:
One of the key trends in the hopped malt extract market is the growing demand for unique flavors and styles of craft beer. Craft brewers are increasingly experimenting with different hop varieties and combinations to come up with innovative beers. Hopped malt extracts allow craft brewers to easily infuse new hop flavors and aromas into their beers. Furthermore, the availability of single-hop and multi-hop hopped malt extracts has enabled craft brewers to accurately recreate signature commercial beer styles. The increasing availability of exotic hop varieties from countries like New Zealand and Australia is also fueling innovation in the craft beer industry. This growing demand for unique flavors and styles is poised to drive the demand for customized hopped malt extracts over the forecast period.
Porter’s Analysis
Threat of new entrants: Low as this is an established market. Large initial investments are required for production facilities and R&D. Bargaining power of buyers: Moderate as there are multiple suppliers in the market. However, buyers have some influence over price due to brand loyalty. Bargaining power of suppliers: Low to moderate as raw materials are globally available and substitutes exist. Suppliers have low differentiation. Threat of new substitutes: Moderate as alternative extracts from other grains and sources exist. Competitive rivalry: High as the market is dominated by a few major players. Price competition is intense.
Key Takeaways
The global Hopped Malt Extract Market Growth is expected to witness high growth over the forecast period. The global hopped malt extract market is estimated to be valued at US$ 9.41 Bn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030.
The North American region currently dominates the market and is expected to continue its dominance over the forecast period as the United States remains a key market for craft beer. The growing craft beer sector is expected to propel demand for hopped malt extracts. In the European region, Germany is the fastest growing market for hopped malt extracts driven by the growing craft brewing trend and the presence of major manufacturers in the country.
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. Hopped malt extracts provide benefits such as improved clarity, flavor and mouthfeel to craft beers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.