The import of hop extract to India is projected to increase steadily from 94.81 to 96.57 thousand kilograms between 2024 and 2028. In 2023, the import volume stood at 94.38 thousand kilograms. Year-on-year growth rates vary slightly, with the most recent figures showing around a 0.48% to 0.45% increase annually. Over a five-year period, a compounded annual growth rate (CAGR) of approximately 0.46% can be expected, suggesting stable demand amidst moderate market expansion.
Future trends to watch for include:
- The burgeoning craft beer industry, which could drive higher demand for hop extracts.
- Fluctuations in global hop extract prices potentially affecting import volumes.
- Regulations and consumer preferences shifting towards natural ingredients, impacting hop extract imports positively.
