U.S.: Hop Market 2023

Hop Market Size in the U.S.

In 2021, the U.S. hop market decreased by -0.2% to $X, falling for the second consecutive year after eight years of growth. Over the period under review, consumption recorded a strong expansion. Hop consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Hop Production in the U.S.

In value terms, hop production expanded modestly to $X in 2021. Over the period under review, production saw a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 34%. Hop production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

The average yield of hops in the United States expanded significantly to X tons per ha in 2021, picking up by 5.9% against the previous year's figure. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the yield increased by 14% against the previous year. The hop yield peaked at X tons per ha in 2019; however, from 2020 to 2021, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The hop harvested area in the United States shrank slightly to X ha in 2021, which is down by -1.8% against the previous year. Over the period under review, the total harvested area indicated resilient growth from 2012 to 2021: its figure increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hop harvested area increased by +80.4% against 2012 indices. The growth pace was the most rapid in 2016 when the harvested area increased by 17%. Over the period under review, the harvested area dedicated to hop production reached the peak figure at X ha in 2020, and then fell in the following year.

Hop Exports

Exports from the U.S.

In 2021, approx. X tons of hops were exported from the United States; increasing by 13% compared with the previous year's figure. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of 25% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, hop exports soared to $X in 2021. In general, exports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2016 when exports increased by 40% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Belgium (X tons), Canada (X tons) and Germany (X tons) were the main destinations of hop exports from the United States, with a combined 47% share of total exports. These countries were followed by the UK, Brazil, Australia, Argentina, China, Japan, New Zealand, Mexico and Colombia, which together accounted for a further 44%.

From 2012 to 2021, 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 +35.4%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Canada ($X) and Germany ($X) were the largest markets for hop exported from the United States worldwide, together comprising 52% of total exports. These countries were followed by the UK, Australia, Brazil, Argentina, China, Japan, New Zealand, Mexico and Colombia, which together accounted for a further 40%.

New Zealand, with a CAGR of +42.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hop export price stood at $X per ton in 2021, rising by 14% against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hop export price increased by +93.2% against 2012 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Belgium ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Hop Imports

Imports into the U.S.

In 2021, the amount of hops imported into the United States contracted modestly to X tons, approximately reflecting the year before. In general, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +5.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 30%. Over the period under review, imports attained the maximum at X tons in 2020, and then reduced in the following year.

In value terms, hop imports expanded markedly to $X in 2021. Over the period under review, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 38%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, Germany (X tons) constituted the largest hop supplier to the United States, accounting for a 53% share of total imports. Moreover, hop imports from Germany exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), twofold. The third position in this ranking was taken by Australia (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+15.7% per year) and Australia (+11.3% per year).

In value terms, the largest hop suppliers to the United States were Germany ($X), New Zealand ($X) and Australia ($X), together comprising 89% of total imports. South Africa, the Czech Republic, the UK and Slovenia lagged somewhat behind, together accounting for a further 9.5%.

South Africa, with a CAGR of +95.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hop import price stood at $X per ton in 2021, growing by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.0%. The pace of growth was the most pronounced in 2019 when the average import price increased by 16%. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Australia ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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