Hops derivatives are compounds synthesized by chemical processes to produce one or more compound having similar structural property alike humulone, lupulone or adlupulone. Humulones is an important chemical compound synthesized from the alpha acids found in hops. It is mostly used in the beverage (beer) industry. Growing demand for hops derivatives as an appetite enhancer in the pharmaceutical industry and flavor enhancer of beer products in beer industry are driving the hops derivatives market.
Market Forecast
Hops
derivatives market 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.
All these factors expected to contribute to the estimated CAGR
of 3.5% of hops derivatives market during the forecast period 2017-2023.
Downstream Analysis
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.
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Competitive Analysis
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.
Regional Analysis
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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