Pune, India, 04 Jul. 2022 (GLOBE NEWSWIRE) — Rising demand for different hop varieties and their flowers in industries such as medicine, brewing and cosmetics is expected to drive global growth hop marketsaid Fortune Business Insights in a report titledHops market, 2022-2029 » The increasing adoption of hops by the pharmaceutical industry owing to its antibacterial properties is expected to drive the growth of the global hops market.
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List of the main players in the global market:
- Steiner Houblon AG
- Hops Direct, LLC.
- Heineken UK Limited
- Chief Yakima Hops LLC.
- Bintani Australia PTY Ltd.
- New Zealand Hops Limited
- BAARTH-HAAS GROUP
- Hollingberry & Son Inc.
- Carlsberg Breweries A/S
- Kalsec Inc.
- Charles Faram & Co. Ltd.
- Select Brewers Limited
Report Scope and Segmentation:
|Year of reference||2021|
|Historical year||2018 – 2020|
|forecast year||2022 – 2029|
|Segments Covered||By type, by application, by feature and by geography|
|Forecast units||Value (USD billion) and volume (units)|
|Quantitative units||Revenue in USD Million/Billion and CAGR from 2020 to 2029|
|Regions covered||North America, Europe, Asia-Pacific, Middle East and Africa, Latin America and Rest of the World|
|Countries covered||United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others|
|Number of companies covered||Steiner Hops Ltd., Hops Direct, LLC., Heineken UK Limited, Yakima Chief Hops LLC., Bintani Australia PTY Ltd., New Zealand Hops Limited, BAARTH-HAAS GROUP, Hollingberry & Son Inc., Carlsberg Breweries A/S, Kalsec Inc., Charles Faram & Co. Ltd. and Brewers Select Limited|
|Report cover||Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments & Region, Market Share Analysis business and analysis of the impact of COVID-19.|
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Partnership between Peak Health and Immunag™ Inc. will drive growth
Peak Health, a leading fitness and nutrition company, and ImmnuAG™ have announced their partnership with Medical Marijuana, Inc., the first openly marketing cannabis company in the United States, for the distribution of a of cannabidiol (CBD) obtained only with hops (brand Kriya Humulus), ImmunAg™. The product will be distributed as Real Scientific Humulus Oil (RSHO-K) by Medical Marijuana, Inc.’s sole subsidiary, HempMeds®. The partnership between the companies is expected to contribute to hops revenue through Kriya Humulus brand hemp extract, which does not contain tetrahydrocannabinol (THC) but has a high concentration of CBD. Moreover, the launch of hops beer by the major players in the market is further promoting the growth of hops. For example, Canopy Beer Co. announced the launch of Green Hop beer, which is brewed with locally sourced Brixton hops.
The health benefits of hops will fuel their demand
The growing demand for hops has driven the major players in the market to focus on the production of hops products using different varieties of bitter hops. This factor is likely to contribute to the expansion of the hops market. Likewise, acquisitions and product launches by key players will remain a key contributor to the market, enabling it to increase its revenue. Growing demand for different hop flowers and verities by industries such as brewing, cosmetics, and medicine is expected to support the growth of hops in the coming year. The growing popularity of craft beer and increasing demand for exotic flavored beers is further expected to encourage the increase in the size of the global hops market. Hops products, when consumed in unregulated quantities, can induce side effects on human health. This factor is likely to hinder the growth of hops. Additionally, hop plants need huge amount of water daily and growing hops in hot or drought-prone areas is very difficult, which may further restrict the growth of the global hops market.
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Increased U.S. hop production will aid growth
Geographically, the global hops market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America holds the major share of the global hops market and is expected to dominate the market over the forecast period. The United States is the leading producer of hops. This factor is expected to contribute significantly to the growth of hops revenues in the region. According to Hops Growers of America, in 2017, the hop harvest in the United States saw a 20% increase over the previous year. Europe is likely to grow at a significant rate due to the presence of major hop producing countries such as Germany, Czech Republic and others in the region.
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