What is the size of hops market?

In 2022, the global hops market was valued at USD 33.1 billion. Between 2023 and 2032, this market is estimated to register the highest CAGR of 4.2%. Hops are the green cone-shaped flowers of the Humulus lupulus plants. It is expected to reach USD 49.9 billion in the forecast period.

What are the key trends in the global hops market?

The increasing production of hops for craft beers and the rising demand for hops in the food and beverages industry are among the major key trends in the market.

Which major hops market drivers are propelling the growth?

The market is driven by the growing craft beer industry, especially in the United States and Germany, and the elevating utilization of hops for medicinal drugs.

Hops Market Size, Share, Growth

Global Hops Market By Type (Cascade Hops, Chinook Hops, Amarillo Hops, Centennial Hops, and Others), By Application (Medicinal Drugs, Alcoholic Beverages, Cosmetics, and Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

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