Hopped Malt Extract Market is Expected to Exhibit Healthy Growth Owing to Rising Demand from Craft Beer Breweries

 In recent years, there has been a notable increase in the market for hopped malt extract. Hopped malt extracts are well renowned for giving beers a more complex flavor and fragrance while also giving them a smooth, full-bodied taste. They make it easier and more affordable for craft brewers to produce consistently high-quality beer. Craft brewers can save a significant amount of time and work by using hopped malt extracts instead of malted barley when making beer. Hopped malt extracts are becoming more and more popular among small and mid-sized craft breweries, largely due to their convenience.

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 2030.

Key Takeaways
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.

The craft beer industry has witnessed steady growth over the past few years and offers lucrative opportunities for hopped malt extracts. Consumer demand for unique flavors, convenience, and ready-to-drink beers is driving craft breweries to rely on hopped malt extracts. The growing popularity of private label and contract brewing is also expected to boost demand.

Globally, North America dominated the hopped malt extract market in 2019. However, Asia Pacific is likely to emerge as the fastest growing regional market between 2024 and 2030 due to the increasing number of microbreweries and brewpubs in China, India, and Southeast Asian countries.

Hopped Malt Extract Market

Market Drivers
The rising demand from craft breweries is a major factor driving the growth of the Hopped Malt Extract Market Growth. As the number of microbreweries and craft breweries increases globally, the demand for convenience products like hopped malt extracts is also witnessing a parallel rise. Their advantages of consistency, reduced production time and costs make them attractive options for small brewers.

PEST Analysis
Political: The hopped malt extract market is governed by various regulations related to food safety, labeling, and ingredients. Changes in such regulations may impact the overall demand.

Economic: Changes in the overall economic conditions like GDP growth, consumer spending, beer industry trends affect the demand for hopped malt extract from breweries and beverage manufacturers.

Social: Changing consumer preferences towards gluten-free, organic, and craft beer varieties influence the product demand. Increasing health consciousness is encouraging low-calorie beverage consumption.

Technological: Advanced extraction techniques help manufacturers improve yield and consistency. Automation in production facilitates higher output. Adoption of quality testing methods ensures the product meets purity and taste standards.

Geographical Concentration
In terms of value, Europe dominates the global hopped malt extract market with over 40% share due to high beer consumption and presence of major brewers in countries like Germany, UK, Belgium, and Italy. North America is another prominent regional market supported by the growing craft beer movement in the US and Canada.

Fastest Growing Region
The Asia Pacific region is expected to be the fastest growing market for hopped malt extract during the forecast period. Factors such as increasing disposable income, rising young population, and growing social acceptability of alcohol are fueling beer consumption in developing countries of China, India, and Southeast Asia. This is likely to drive additional demand.

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