Hops Farming in the US - Industry Market Research Report

Hop to It: Volatile Demand is Expected to Slow Industry Growth

The Hops Farming industry produces hops primarily for sale to brewers and third-party dealers and distributors. Hops are a primary ingredient in the production of beer. In the United States, hops production predominantly occurs in just three states: Washington accounted for 73.0% of US acres planted in 2019 (latest data available), with Idaho and Oregon accounting for 15.0% and 12.0%, respectively. Overall, industry performance over the five years to 2020 can be characterized by strong demand and prices early during the period, followed by a leveling off in 2018 and disruption in 2020 due to the outbreak of COVID-19 (coronavirus). As a result of these factors, the industry has exhibited impressive growth and maintained a strong profit margin over the five years to 2020. Industry revenue is expected to rise an annualized 11.3% to reach $639.6 million. However, this includes an anticipated decline of 0.6% in 2020 alone as end markets are roiled by the coronavirus pandemic.

The Hops Farming industry grows hops primarily for sale to brewers and third-party dealers and distributors.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.