Singapore: Hop Market 2025

Hop Market Size in Singapore

The Singaporean hop market was finally on the rise to reach $X in 2022, after three years of decline. Overall, consumption, however, continues to indicate a perceptible shrinkage. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Hop Production in Singapore

In value terms, hop production stood at $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume decreased by 99.9%. Over the period under review, production hit record highs in 2022 and is expected to retain growth in years to come.

The average yield of hops in Singapore was estimated at less than X kg per ha in 2022, approximately mirroring the previous year. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of hops production in Singapore totaled less than X ha, remaining stable against the year before. Over the period under review, the harvested area recorded a relatively flat trend pattern.

Hop Exports

Exports from Singapore

Hop exports from Singapore contracted modestly to X tons in 2022, which is down by -2.9% compared with 2021 figures. Overall, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 447% against the previous year. As a result, the exports attained the peak of X tons, and then shrank slightly in the following year.

In value terms, hop exports reached $X in 2022. Over the period under review, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2019 with an increase of 442% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for hop exports from Singapore, accounting for a 70% share of total exports. Moreover, hop exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to +44.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+34.4% per year) and Myanmar (-29.2% per year).

In value terms, Indonesia ($X) remains the key foreign market for hops exports from Singapore, comprising 69% of total exports. The second position in the ranking was held by Malaysia ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia totaled +36.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+18.1% per year) and Myanmar (-38.6% per year).

Export Prices by Country

In 2022, the average hop export price amounted to $X per ton, increasing by 3.2% against the previous year. In general, the export price, however, showed a drastic downturn. The growth pace was the most rapid in 2019 when the average export price increased by 80% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+1.4%), while the prices for the other major destinations experienced a decline.

Hop Imports

Imports into Singapore

After three years of decline, overseas purchases of hops increased by 0.6% to X tons in 2022. Over the period under review, imports, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 66% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, hop imports expanded rapidly to $X in 2022. Overall, imports showed resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 84%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest hop supplier to Singapore, with a 49% share of total imports. Moreover, hop imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Hong Kong SAR (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +33.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+49.3% per year) and Hong Kong SAR (+31.3% per year).

In value terms, Germany ($X), the United States ($X) and Hong Kong SAR ($X) constituted the largest hop suppliers to Singapore, together accounting for 81% of total imports.

The United States, with a CAGR of +43.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hop import price stood at $X per ton in 2022, growing by 6.8% against the previous year. In general, the import price saw a strong increase. The pace of growth appeared the most rapid in 2013 an increase of 75% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+56.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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