Hops derivatives have various unique properties such as of antimicrobial, anti-fungal, and anti-cancer. They are widely used in the pharmaceutical industry to manufacture varied drugs and tonics. Additionally, it is used as a natural preservative in the food and beverage products; stabilizer and flavor enhancer of beer products in beverage industry, which is gaining popularity across the globe. Furthermore, constantly increasing demand for hops containing beer is driving the growth of the global hops derivatives market.
Moreover, the market examines continuous growth due to high demand in most of the countries and intensifying market opportunities. Increasing focus on R&D and advancing technology likely to boost the global hops derivatives market. However, high investment cost in the derivatization process of artificial hops derivatives as well as high sugar content may affect the market growth negatively.
On the basis of chemical composition, alpha acids dominates the market owing to high presence of humulone content, which is a major hops derivative. It has numerous applications in the pharmaceutical and the beverage industry. However, such derivatives can also be derived from essential oils, and the market of essential oil is projected to rise during the given forecast period. Furthermore, based on the applications, the beverage (beer) industry dominates the market. However, its applications in pharmaceutical and cosmetic products are projected to grow during the assessment period.
The major players in the hops derivatives market
- YCH HOPS (the U.S.)Archer Daniels Midland (the U.S.)
- Steiner Hops (U.K.)
- Kalsec Inc (the U.S.)
- Charles Faram & Co Ltd (U.K.)
- New Zealand Hops Limited (New Zealand)
- Global Hops (North America)
Hops derivatives market is growing rapidly due to high demand for anti-bacterial, anti-cancer, and antioxidant medicines from most of the countries, and intensifying market opportunities. Moreover, focus on R&D and technological advancement expected to boost the hops derivatives market over the forecast period 2017-2023.
The global hops derivatives market is segmented into four regions: North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the hops derivatives market across the globe. In this region, the U.S. & Canada hold a major share of the global hops derivatives market followed by Europe. Changing eating habits with the rising prevalence of stomach disorders and other diseases followed by intensifying market opportunities lead the growth of the hops derivatives market in this region. However, Asia Pacific is projected to grow rapidly owing to increasing demand for flavored beer and medicinal tonics, which act as an appetite enhancer.
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