Asia: Hop Market 2024

Hop Market Size in Asia

The Asian hop market expanded rapidly to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Hop Production in Asia

In value terms, hop production expanded slightly to $X in 2022 estimated in export price. The total production indicated a perceptible expansion 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. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

The country with the largest volume of hop production was China (X tons), accounting for X% of total volume. Moreover, hop production in China exceeded the figures recorded by the second-largest producer, Democratic People's Republic of Korea (X tons), fourfold. The third position in this ranking was held by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest. In the other countries, the average annual rates were as follows: Democratic People's Republic of Korea (X% per year) and Japan (X% per year).

The average hop yield amounted to X tons per ha in 2022, approximately mirroring the year before. In general, the yield, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. The level of yield peaked at X tons per ha in 2012; however, from 2013 to 2022, 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 stood at X ha in 2022, standing approx. at the year before. Overall, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Hop Exports

Exports in Asia

In 2022, overseas shipments of hops increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, exports, however, continue to indicate a slight setback. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, hop exports soared to $X in 2022. Over the period under review, exports enjoyed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Iran was the key exporting country with an export of around X tons, which accounted for X% of total exports. Turkey (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Pakistan (X%), China (X%) and Hong Kong SAR (X%). The following exporters - Timor-Leste (X tons) and Singapore (X tons) - each amounted to a X% share of total exports.

Exports from Iran increased at an average annual rate of X% from 2012 to 2022. At the same time, Turkey (X%), Singapore (X%), Hong Kong SAR (X%), China (X%) and Timor-Leste (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Pakistan (X%) illustrated a downward trend over the same period. While the share of Iran (X p.p.), Turkey (X p.p.), Hong Kong SAR (X p.p.), China (X p.p.), Singapore (X p.p.) and Timor-Leste (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Pakistan (X p.p.) displayed negative dynamics.

In value terms, the largest hop supplying countries in Asia were Hong Kong SAR ($X), Turkey ($X) and Iran ($X), together comprising X% of total exports.

In terms of the main exporting countries, Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price recorded strong growth. The pace of growth appeared the most rapid in 2015 when the export price increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Hop Imports

Imports in Asia

Hop imports expanded rapidly to X tons in 2022, increasing by X% on 2021 figures. The total import volume 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 most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, hop imports reached $X in 2022. Total imports indicated a remarkable increase 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. Based on 2022 figures, imports decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons) and Japan (X tons) represented the key importers of hops in 2022, accounting for near X% and X% of total imports, respectively. India (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (X%) and Vietnam (X%). The following importers - South Korea (X tons) and Singapore (X tons) - together made up X% of total imports.

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

In value terms, China ($X), Japan ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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

In 2022, the import price in Asia amounted to $X per ton, dropping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then reduced 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 Vietnam ($X per ton), while Singapore ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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