ASEAN: Hop Market 2024

Hop Market Size in ASEAN

After three years of decline, the ASEAN hop market increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Hop Production in ASEAN

In value terms, hop production rose notably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Brunei Darussalam (X tons) and Malaysia (X tons).

From 2012 to 2022, the biggest increases were recorded for Brunei Darussalam (with a CAGR of X%).

Hop Exports

Exports in ASEAN

In 2022, shipments abroad of hops increased by X% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, hop exports amounted to $X in 2022. In general, exports recorded significant growth. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

Singapore (X tons) and Vietnam (X tons) prevails in exports structure, together constituting X% of total exports. Thailand (X tons) ranks next in terms of the total exports with an X% share, followed by Lao People's Democratic Republic (X%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Singapore (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the largest hop supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

In Vietnam, hop exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Singapore (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price, however, enjoyed a moderate expansion. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Hop Imports

Imports in ASEAN

In 2022, overseas purchases of hops were finally on the rise to reach X tons after four years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, hop imports skyrocketed to $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons) and Vietnam (X tons) represented the key importers of hops in 2022, reaching approx. X% and X% of total imports, respectively. Singapore (X tons) ranks next in terms of the total imports with a X% share, followed by the Philippines (X%) and Cambodia (X%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hop importing markets in ASEAN were Vietnam ($X), Thailand ($X) and the Philippines ($X), with a combined X% share of total imports. Cambodia, Indonesia and Singapore lagged somewhat behind, together comprising a further X%.

Indonesia, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, falling by X% against the previous year. Import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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