Hop (Humulus lupulus) is a type of flower mainly used in flavoring, bittering, and as stability agents in beer. The hops market is expected to grow over the coming years due to the increasing popularity of craft beer and the growing popularity of non-alcoholic hopped beers. According to the 2022 Australian Craft Beer Survey, black hops have been rated as the most preferred craft brewery in Australia, and the consumption of alcohol-free beer increased by 32% in 2022 compared to 15% in 2020 (the last Australian Craft Beer Survey).
Consumers are looking for unique and flavorful beers, and craft breweries are meeting this demand by using a wide variety of hops such as chinook and centennial hops to create distinct flavor profiles. This has led to a surge in demand for hop varieties that were previously not as popular. In November 2022, Abstrax Tech a manufacturer of botanically derived terpenes and cannabis launched its new hop master kit which includes 12 different hop varieties including pineapple mango, dank passionfruit, soft herbal, and others. Such launches open an opportunity for several brewer manufacturers to experiment the more flavor in craft beer.
The increasing application of a variety of hops in the cosmetic industry also drives the market. Hops contain compounds called xanthohumol and humulene, which have been found to have anti-inflammatory effects. These properties make hops a valuable ingredient in skin care products such as lotions, creams, and serums. They can help reduce redness and irritation, making them useful in products designed for sensitive skin.
Hops are also known for their antioxidant properties. Antioxidants help protect the skin from damage caused by free radicals, which can lead to premature aging and other skin problems. Hops contain polyphenols, which are powerful antioxidants that can help keep the skin looking youthful and healthy. As a result, hops are often used in anti-aging products such as serums and moisturizers.
Another benefit of hops in cosmetics is their natural preservative properties. Hops contain antimicrobial compounds that can help prevent the growth of bacteria and fungi in cosmetic products. This makes them a valuable ingredient in natural and organic cosmetics that are free of synthetic preservatives.
The increasing application of hops in drugs and medicines is also expected to fuel market growth. Hop extracts can be effectively used in medicines to cure and fight against headaches, ulcers, insomnia, anxiety, and skin issues.
Based on product, the market is segmented into chinook hops, aroma hops, centennial hops, and others. Chinook is a bittering hop with a high alpha acid content. It is commonly used in American-style IPAs and adds a piney, resinous flavor to beer. Aroma hops are used primarily for their aromatic qualities rather than their bitterness. They can provide floral, fruity, or spicy notes and are often added to the end of the brewing process to enhance the beer's aroma.
Centennial is a dual-purpose hop that can be used for both bitterness and aroma. It has a floral, citrusy flavor and is commonly used in American-style IPAs. Other types of hops include columbus, simcoe, citra, and mosaic, among many others. These hops have unique flavor profiles and are often used in specific beer styles.
Prominent market players are launching new varieties of hops to cater to a larger audience from end-use industries including medical, cosmetics, and breweries. For instance, in February 2023, Hop Revolution NZ launched a new variety of hops called Superdelic. This variety is developed to offer new flavorings in craft beers such as candy, and tropical & red fruit.
By Product Type
Yakima Chief Hops Inc.
Hop Growers of America
HERBO NUTRA EXTRACT PRIVATE LIMITED
BarthHaas GmbH & Co. KG
Hollingbery and Son
Loughran Brewers Select
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