U.S. - Hops - Market Analysis, Forecast, Size, Trends and Insights
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View PricingU.S. Hop Export Increases Slightly to 1K Tons in November 2022
U.S. Hop Exports
In November 2022, shipments abroad of hops increased by 29% to 1K tons, rising for the third month in a row after three months of decline. In general, exports, however, saw a pronounced decline. The pace of growth was the most pronounced in March 2022 with an increase of 77% against the previous month. As a result, the exports attained the peak of 2.5K tons. From April 2022 to November 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, hop exports skyrocketed to $19M (IndexBox estimates) in November 2022. Over the period under review, exports, however, saw a pronounced downturn. The most prominent rate of growth was recorded in March 2022 with an increase of 96% against the previous month. As a result, the exports attained the peak of $56M. From April 2022 to November 2022, the growth of the exports remained at a lower figure.
Exports by Country
Belgium (248 tons), the UK (183 tons) and Canada (168 tons) were the main destinations of hop exports from the United States, with a combined 59% share of total exports. These countries were followed by Germany, Chile, China, Brazil, South Africa, New Zealand, Japan, India and Argentina, which together accounted for a further 36%.
From January 2022 to November 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by New Zealand (with a CAGR of +65.4%), while the other leaders experienced more modest paces of growth.
In value terms, Belgium ($5.9M), Canada ($3.1M) and Germany ($2.9M) constituted the largest markets for hop exported from the United States worldwide, with a combined 61% share of total exports. the UK, China, Brazil, Chile, New Zealand, Japan, South Africa, India and Argentina lagged somewhat behind, together comprising a further 33%.
New Zealand, with a CAGR of +64.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Exports by Type
Hop cones; ground, powdered or in the form of pellets; lupulin (971 tons) was the largest type of hop exported from the United States, accounting for a 96% share of total exports. Moreover, hop cones; ground, powdered or in the form of pellets; lupulin exceeded the volume of the second product type, hop cones; neither ground nor powdered nor in the form of pellets (36 tons), more than tenfold.
From January 2022 to November 2022, the average monthly rate of growth in terms of the volume of export of hop cones; ground, powdered or in the form of pellets; lupulin amounted to -2.9%.
In value terms, hop cones; ground, powdered or in the form of pellets; lupulin ($19M) remains the largest type of hop exported from the United States, comprising 96% of total exports. The second position in the ranking was taken by hop cones; neither ground nor powdered nor in the form of pellets ($726K), with a 3.7% share of total exports.
From January 2022 to November 2022, the average monthly growth rate of the export volume of hop cones; ground, powdered or in the form of pellets; lupulin stood at -3.2%.
Export Prices by Country
In November 2022, the hop price stood at $19.3 per kg (FOB, US), surging by 8.8% against the previous month. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in July 2022 when the average export price increased by 26% m-o-m. Over the period under review, the average export prices reached the maximum at $22.3 per kg in March 2022; however, from April 2022 to November 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Belgium ($23.9 per kg), while the average price for exports to South Africa ($12.9 per kg) was amongst the lowest.
From January 2022 to November 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.
Factors Affecting Hop Prices
The average price of hops in the United States has been steadily rising over the past few years. This is due to a number of factors, including an increase in demand from craft breweries and a decrease in supply due to poor weather conditions in key hop-growing regions.
While the average price of hops is still relatively low compared to other brewing ingredients, it has been increasing at a faster rate than the prices of other commodities. This is largely due to the fact that demand for hops has been growing much faster than the overall supply. In particular, the craft brewing industry has been driving up demand for hops, as they use more hops per barrel than large commercial breweries.
Another factor that has contributed to the increase in hop prices is the limited supply of certain varieties of hops. Some hop varieties are in short supply due to bad weather or other problems with cultivation. The vast majority of hops are grown in just a few countries, with the United States being one of the largest producers. However, even with increased production, there are still not enough hops to meet demand.
This report provides an in-depth analysis of the hop market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 677 - Hops
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
