Summary
Major players in the hopped malt extract market are CereX B.V., Coopers, Hambleton Bard Ltd., Mangrove Jacks, Muntons, BrewDemon, Brewtec Bulk Malt, PAB SRL, Hopsteiner, Brewferm, Brewof Brewing, Brouwland, Black Rock Brewing, and Briess Malt & Ingredients Company.
The global hopped malt extract market is expected to grow from $7.45 billion in 2021 to $8.38 billion in 2022 at a compound annual growth rate (CAGR) of 12.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The hopped malt extract market is expected to reach $11.74 billion in 2026 at a CAGR of 8.8%.
The hopped malt extract market consists of sales of the hopped malt extract process by entities (organizations, sole traders, and partnerships) that are used for the aromatic and bittering features it can provide to the completed beer.Hopped malt extract refers to a malt extract that is added to eliminate variables from brewers to keep brewing simple.
These hopes are available in both dried and concentrated forms. That is made by crushing and mashing malted grains.
The main types of wax markets are cascade, amarillo, centennial and chinook.Cascade are used to provide flavor and aroma in beers.
It is also used in making ales and pale ales.Cascade in the hopped malt extract market refers to an aroma hop having a high distinctiveness flavor such as grapefruit flavor with medium intensity and a floral scent.
The different sources include wheat, barley, rice, rye, and others that have organic and conventional nature. The various end-users are brewing industry, alcoholic, non-alcoholic, baking industry, confectionery, animal feed and others.
North America was the largest region in the hopped malt extract market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the hopped malt extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing popularity of craft beer is expected to propel the growth of the hopped malt extract market going forward.Craft beer refers to beer produced in a traditional and independent brewery in small batches instead of mass production.
Craft beer provides a richer and more distinct taste than other beers, having a unique blend of ingredients.Hopped malt is used in the preparation of craft beer to get an aromatic and bittering taste to the beer.
For instance, according to Brewers Association, a US-based beverages promotion agency, in 2021, in the US, the craft brewer volume sales grew by 8% with retail dollar sales of craft beer increasing by 21%, to $26.8 billion. Therefore, the growing popularity of craft beer is driving the growth of the hopped malt extract market.
New product innovation is gaining significant popularity in the hopped malt extract market.Major companies operating in the hopped malt extract sector are focused on introducing new products to sustain their position in the market.
For instance, in June 2021, Muntons, a UK-based malt, and malted ingredients manufacturer launched a new range of home-brew kits which are packed with hops and adjuncts, including premium hop pellets for dry-hopping and a hop straining bag.This kit is manufactured by using German beer-making technology which gives an authentic taste to the product.
To ensure that the home brewer has the best experience possible while producing 35 pints of beer, the package also comes with a step-by-step instruction manual that is designed specifically for the kit style.
In January 2022, Monster Beverage Corporation, a US-based beverage company acquired Canarchy Craft Brewery for a deal amount of $330 million.The deal will benefit Monster Beverage Corporation with the addition of Canarchy and its brands to Monster’s beverage portfolio and expand its product offerings globally.
Canarchy Craft Brewery is a US-based beverage company that produces hopped malt beer.
The countries covered in the hopped malt extract market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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