Global Hops Essential Oil demand is anticipated to be valued at US$ 6 Billion in 2022, forecast to grow at a CAGR of 9.6% to be valued at US$ 15 Billion from 2022 to 2032.
| Report Attribute | Details |
| Estimated Base Year Value (2021) | US$ 5 Billion |
| Expected Market Value (2022) | US$ 6 Billion |
| Anticipated Forecast Value (2032) | US$ 15 billion |
| Projected Growth Rate (2022-2032) | 9.6% CAGR |
Hops are the female flowers (cones) of a climbing plant called Humulus lupulus, which is widely grown in Europe. Hops essential oil is the oil extracted from these hops. The most common method of extracting hops essential oil is steam distillation. Hops essential oil has a sweet, fresh aroma with a hint of sharpness and bitterness. When diluted in a low concentration with other oils, hops essential oil is used for fragrance and therapeutic blending.
Humans have been known to experience sedative effects from hops essential oil. As a result, hops essential oil can be used to treat stress, anxiety, and insomnia in humans. Hops essential oil is used in natural deodorants, fragrances, and perfumes, among other things.
Hops essential oil is used extensively in the brewing of beer. Hops essential oil imparts flavor to the beer through late-hopping or dry-hopping. The dry-hopping method, for example, is used to make ale. After the addition of hops essential oil to beer, it develops a distinct hop aroma, and consumers prefer aromatic beer to natural beer. As a result, beer producers are increasingly using hops essential oil to enhance hoppy flavor and differentiate their products.
Consumer acceptance is being driven by the aroma and flavor imparted by hops essential oil. Consumers are also incorporating hops essential oil-flavored beers into their bedtime routines because the hops essential oil used to flavor such beers helps them overcome restlessness and inability to sleep. Some people also use hops essential oil for this benefit by sprinkling one or two drops on their pillow to relax and sleep well.
Since, plant and crop prices have risen dramatically in recent years as a result of supply shortages, climate change, overpopulation, and shrinking arable land, all of which have resulted in higher oil prices. To reap the benefits of these products, consumers are increasingly being pressured to pay exorbitant prices per ounce of oil which may stifle the market growth.
Over the forecasted years, Asia Pacific is expected to have the highest CAGR in the hops essential oil market. This is due to favourable weather conditions for agriculture, low-cost labor, and abundant raw material availability.
In addition, a shift in consumer preference in China and India toward healthy and nutritional food and beverages, as well as other food products, is expected to provide lucrative growth opportunities for global market players in the Asia Pacific market.
In 2020, China dominated the Asia Pacific market. The demand for hops essential oils in China is expected to rise due to high demand for Chinese fragrances and the presence of a large consumer base in the skincare market.
According to Future Market Insights, Europe is expected to dominate the hops essential oil market during the forecast period. This can be attributed to the presence of developed end-use industries as well as increased consumer awareness of the benefits of hops essential oil. The presence of organizations like the European Federation of Essential Oils (EFEO) has aided the growth of the essential oil industry in Europe.
The European Federation of Economic Organizations (EFEO) was established to promote and protect the interests of all stakeholders involved in the market value chain. The organization is also in talks with the European Commission and the European Parliament about introducing or amending essential oil legislation. Market growth in the region has benefited from such trends.
Some of the key participants present in the global Hops Essential Oil market include identified are Glacier Hops Ranc, Green Acre Farms, Aliksir, Mountain Rose Herbs, Hopsteiner, Hermitage Oils and Denie Brown, among others.
If hops processing technology improves, the market for hop essentials has a lot of room to grow. The extraction of essential oil from hops necessitates a number of intermediate steps, all of which add to the cost for manufacturers. This factor is driving manufacturers of hops essential oils away from the market. As a result, research into developing low-cost processes for producing hops essential oil could present a significant growth opportunity for the market.
| Report Attribute | Details |
| Growth Rate | CAGR of 9.6% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
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| Customization | Available Upon Request |
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FMI projects the global Hops Essential Oil market to expand at a 9.6% value CAGR by 2032
Asia Pacific is expected to be the most opportunistic Hops Essential Oil market.
Identified are Glacier Hops Ranc, Green Acre Farms, Aliksir, Mountain Rose Herbs, Hopsteiner, Hermitage Oils and Denie Brown, are some prominent Hops Essential Oil manufacturers
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Hops Essential Oil Market
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