World: Global hop crop, acreage down in 2024

Global hop market is experiencing significant change. There have been drastic acreage reductions in USA and reductions are expected in Europe, Hopsteiner said in their November 2024 guidelines for hop buying.

The beer industry has experienced a decline in production heretofore unknown. It remains challenging to reach new generations of consumers. On-premise sales of beer remain well below industry expectations as both new habits and inflationary costs have pushed consumers away from beer.

As a result, worldwide hop acreage will continue to be reduced, the leading hop grower said. Growers without good access to water and more sustainable varieties will likely leave the industry. It is imperative that brewers maintain an open mind and active process to modernize their lists of approved varieties.

Global hops crop 2024 is forecast to reach 113,220 tonnes, down from 118,136 tonnes in 2023, with alpha amount down by around 200,000 kg.

In the meantime, Hopsteiner are expecting beer sales to again return to slightly positive numbers, so markets should stabilize as supply is adjusted, inventories are brought down, and acreage levels off.