U.S. - Hops - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHop Price in the United States - 2023
Contents:
- Hop Price in the United States (FOB) - 2023
- Hop Price in the United States (CIF) - 2023
- Hop Exports in the United States
- Hop Imports in the United States
Hop Price in the United States (FOB) - 2023
In September 2023, the average hop export price amounted to $22,249 per ton, surging by 15% against the previous month. In general, the export price continues to indicate a relatively flat trend pattern. 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 September 2023, the country with the highest price was Belgium ($28,301 per ton), while the average price for exports to the UK ($14,633 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.
Hop Price in the United States (CIF) - 2023
The average hop import price stood at $21,848 per ton in September 2023, shrinking by -3.3% against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 33% month-to-month. The import price peaked at $22,588 per ton in August 2023, and then fell slightly in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Australia ($23,214 per ton), while the price for Germany ($13,682 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Germany (+3.5%), while the prices for the other major suppliers experienced a decline.
Hop Exports in the United States
For the fourth consecutive year, the United States recorded growth in shipments abroad of hops, which increased by 7.9% to 16K tons in 2022. The total export volume increased at an average annual rate of +7.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 13% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, hop exports expanded markedly to $312M in 2022. Overall, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +13.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +45.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 29% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
Export of Hop in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Belgium | 33.6 | 32.7 | 66.7 | 86.9 | 37.3% |
Germany | 28.6 | 30.9 | 33.4 | 43.9 | 15.4% |
Canada | 42.4 | 45.3 | 46.2 | 42.3 | -0.1% |
United Kingdom | 31.8 | 28.8 | 30.0 | 26.4 | -6.0% |
Australia | 15.0 | 16.0 | 24.8 | 18.5 | 7.2% |
China | 2.6 | 7.4 | 9.1 | 15.2 | 80.1% |
Brazil | 15.4 | 10.1 | 18.8 | 14.0 | -3.1% |
Argentina | 6.8 | 10.9 | 11.6 | 11.6 | 19.5% |
Japan | 6.8 | 7.6 | 8.5 | 10.7 | 16.3% |
Others | 30.7 | 29.2 | 33.3 | 42.1 | 11.1% |
Total | 214 | 219 | 282 | 312 | 13.4% |
Top Export Markets for Hop from the United States in 2022:
- Belgium (3.5K tons)
- Canada (2.2K tons)
- Germany (2.1K tons)
- United Kingdom (1.5K tons)
- Brazil (1.2K tons)
- Australia (0.8K tons)
- China (0.8K tons)
- Argentina (0.7K tons)
- Japan (0.6K tons)
Hop Imports in the United States
In 2022, supplies from abroad of hops decreased by -11.6% to 4.5K tons, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 7.2%. As a result, imports attained the peak of 5.1K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, hop imports declined to $73M in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 12% against the previous year. As a result, imports attained the peak of $84M, and then declined in the following year.
Import of Hop in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Germany | 36.7 | 31.5 | 36.0 | 25.6 | -11.3% |
New Zealand | 13.1 | 20.2 | 24.0 | 25.1 | 24.2% |
Australia | 13.6 | 16.8 | 15.5 | 17.3 | 8.4% |
Czech Republic | 1.0 | 1.3 | 2.1 | 2.1 | 28.1% |
United Kingdom | 4.2 | 3.1 | 1.2 | 2.0 | -21.9% |
South Africa | 0.8 | 1.2 | 4.4 | 0.2 | -37.0% |
Others | 1.9 | 1.4 | 1.2 | 0.9 | -22.0% |
Total | 71.3 | 75.6 | 84.3 | 73.1 | 0.8% |
Top Suppliers of Hop to the United States in 2022:
- Germany (2211.7 tons)
- New Zealand (1099.7 tons)
- Australia (760.8 tons)
- Czech Republic (145.6 tons)
- United Kingdom (145.0 tons)
- South Africa (11.4 tons)
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
-
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
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In November 2022, the hop price stood at $19.3 per kg (FOB, US), surging by 8.8% against the previous month.
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Global hop consumption amounted to X thousand tons in 2015, lowering by -X% against the previous year level.
In 2015, the countries with the highest levels of hop production were Ethiopia (X thousand tons), Germany (X thousand tons), the United States (X thousand tons), together accounting for X% of total output.