Market Dynamics:

The growth of the hopped malt extract market is majorly driven by the increasing consumption of craft beer across the world. According to the Brewers Association, in 2020, over 8,800 breweries were in operation in the United States, with craft brewing accounting for 24.8% of the US beer market by volume. The thriving craft beer culture has increased demand for innovative ingredients that help small brewers replicate popular beer styles. Hopped malt extract has emerged as a handy alternative to traditional kettle hopping processes for homebrewers and microbreweries. Additionally, the availability of Hopped malt extracts in single-use packaging formats has further expanded their usage, especially in developing markets. However, availability of substitute products like brewing kits and all-grain extracts remain a challenge for the market.

Key Takeaways

The Global Hopped Malt Extract Market Demand is expected to witness high growth over the forecast period. Rising health-conscious demographics along with convenience food trend augurs well for industry players. The global hopped malt extract market is estimated to be valued at US$ 10.85 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.

Regional analysis: North America dominates the global market with the largest share. Easy availability of raw materials and advanced production facilities drive the region's growth. Asia Pacific holds bright prospects for expansion attributable to rising beer consumption in countries like China, India and Southeast Asian nations.

Key players: Key players operating in the Hopped Malt Extract market are Koninklijke DSM N.V., Muntons plc, Associated British Foods plc, The Malt Company, IREKS GmbH, Doehler, Briess Malt & Ingredients Co., Malteries Soufflet, PureMalt, and Huajia Food Technology. These established manufacturers focus on new product launches and capacity expansion to strengthen their market positions.

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