Global Hopped Malt Extract Market

Hopped Malt Extract Market Insights

Malt extract is a dried or concentrated type of unfermented brewery wort. It is produced by crushing and mashing malted grains, separating the wort from spent grains, and then concentrating and dehydrating the wort. When hops are added to this extract, it becomes hopped malt extract. Hopped malt extracts are available as liquids or solids.In hopped malt extract type brewing, hops are added as they keep the beer fresh, increase the longevity of the beer,bring out the foam of the beer and maintain the aroma of the beer. Brewing with hopped malt extract saves a lot of time i.e. almost 75% of the time is saved from the brewing process. This in turn will also have the benefit of not losing out on the taste of the beer because the only thing that is reduced is the time. The consistency of the taste, the foam, the viscosity, the color will be the same every time you brew.

The market is driven by the growing demand in brewing businesses, particularly for the production of beer. Additionally, its rising application in other beverages apart from alcohol is adding to the development of the market. Moreover, the significant chance it gives is its application in cooking, candy store, and other food applications as per research, even though it has not been abundantly utilized as of recently, it is expected to drive the market development shortly.

Improved supply quality and the introduction of less perishable malt varieties may be another driving force for increased production in the hopped malt extract industry. Increased hops production will also assist the hopped malt extract industry in overcoming the shortage and increased hops prices in the market.The availability of raw materials is a critical factor that can both drive and inhibit the growth of the hopped malt extract market. As a result, an increase in the production of malts such as wheat, barley, oat, and so on will provide a good opportunity for the global economic growth of the hopped malt extract market.

The spread of the COVID-19 virus had a negative effect on the global market. The brewing industry is the second-largest revenue generator in the beverage market. Because of the outbreak, beer production and supply chains have been hampered, as governments across the world have banned international trade and suspended business operations.Furthermore, the pandemic has stopped beer production due to decreased demand for breweries, as well as the closure of pubs, bars, and restaurants.

Hopped Malt Extract Market: By Type

Based on the type,the hopped malt extract market can be segregated intothe cascade, amarillo, centennial, and chinook. The cascade segment is expected to hold the largest share in the market over the forecast timeframe. It is the best-selling product due to its wide range of applications in the brewing industry.Because of its superior aroma, flavour profile, and acidity, this hop is often used in American pale ales. This variety is used to hop several super acidic, dry-hopped brews. This factor is expected to benefit the segment's growth.

The chinook and centennial segmentsare projected to grow at a rapid pace. Increasing demand for blends of different hop types with good aroma and flavour is expected to propel the market for centennials. Chinook hops are used by both large and small brewers. Chinook is mostly used as a bittering hop by mainstream breweries such as Coors.

Hopped Malt Extract Market: By Application

Based on the application, the Hopped Malt Extract Market can be segregated intofood and beverage. In terms of sales, beverage held the largest market share in 2019. Beverages, especially alcoholic beverages, play a significant role in the high demand from this application segment. As per a survey by the trade group The Brewers of Europe, there were over 9500 microbreweries in Europe in 2017. This aspect is expected to drive the overall growth of the hopped malt extract market.

Hopped Malt Extract Market: By Region

As per the geographical analysis, the market of Hopped Malt Extract Market can be classified into North America (the US, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa and Central South America.North America is the market leader in this segment because beer is consumed by a diverse population, especially in the United States. Moreover, due to their global reach, a large number of beer producers in that area are doing well. Europe is the next area in terms of having an amazing breweries market, rendering it a good location for the hopped malt extract market.

The Asia Pacific is the fastest-growing marketowing to the increasing demand for low alcohol level drinks and also the increasing number of people consuming beers in the region with China being the highest consumer.

Hopped Malt Extract Market Share and Competitor Analysis

Muntons, P.A.B. SRL - Mr. Malt, Coopers, Hambleton Bard Ltd., BrewDemon, Cerex, Brewtec Bulk Mal, Brewferm, Demon Brewing Co., and Mangrove Jacks among others are the top players in the global hopped malt extract market.

Please note: This is not an exhaustive list of companies profiled in the report.