Pune, India -- (SBWire) -- 09/27/2018 --Market Overview:
The growth of the global hops derivatives market has been positive over the last few years, and the market is expected to reach high revenue figures by the end of 2023, proclaims Market Research Future (MRFR) in an exhaustive study. The market is expected to capture a steady CAGR over the forecast period because of its diverse and potential applications in the pharmaceuticals and the beer industry. Beer derives its bitter taste from hops derivatives which are also used as a natural stabilizing agent in the process of beer-making.
In addition, it also acts as a flavor enhancer in beer and thus hops containing beer drives the growth of the hops derivatives market. There is a massive demand from the pharmaceutical industry for hops derivatives. They help in improving appetite and reducing insomnia and are thus used i various medicinal tonics. Apart from this, hops also have antimicrobial, anti-fungal and anti-cancer properties. Increasing investment in R&D activities is likely to augment the demand for hops derivatives. However, high sugar content in hops and high investment cost in the derivatization process of artificial hops derivatives are restraining factors to the growth of the market.
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Major Key Players Review:
The key players operating in the global hops derivatives market include YCH HOPS (the U.S.), Kalsec Inc (the U.S.), Brewers Select Limited (U.K.), Global Hops (North America), Steiner Hops (U.K.), Charles Faram & Co Ltd (U.K.), and New Zealand Hops Limited (New Zealand).
Industry Updates:
In August 2018, B.C. Company acquired patent for Sasquatch, Canada's first patented and commercially grown hops. The patent acquisition is a collaborative effort of the B.C. Company with four other breweries.
Segmentation:
The global hops derivatives market has been segmented based on chemical composition, application, and distribution channel. By chemical composition, the market has been segmented into Alpha Acids, Beta Acids, Essential Oils, Flavonoids others. The alpha acids segment leads the market owing to high humulone content found in the hops flower. By application, the market has been segmented into Alcoholic Beverages (Beer), Pharmaceutical Industry and others. The beverage industry dominates the market by application as hops derivatives are widely used as a natural stabilizing agent in the beverage industry. By distribution channel, the market has been segmented into store-based and non-store based. The store-based channel is mostly the preferred channel as it is able to provide customers with one-stop shopping experience and thus is the dominating segment by distribution channel.
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Regional Analysis:
The global hops derivatives market spans across the regions of North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America accounts for the maximum share of the market followed by Europe. The US and Canada are the key contributors to the North America market. In North America, technological advancements and extensive R&D activities support the growth of the market. Asia Pacific is expected to register relatively faster growth over the forecast period due to the development of the alcoholic beverages industry and the pharmaceutical industry. Germany, the U.S., Czech Republic, the U.K. and Belgium are the top exporters of hops derivatives.
Hops Derivatives Market Based On, Price Analysis, Supply Chain Analysis, Porters Five Force Analysis by Forecast to 2023