South-Eastern Asia: Hop Market 2025

Hop Market Size in South-Eastern Asia

The Southeast Asian hop market skyrocketed to $X in 2022, increasing by 22% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.9% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Hop Production in South-Eastern Asia

In value terms, hop production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 18%. 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 Timor-Leste (X tons), accounting for 100% of total volume.

From 2012 to 2022, the average annual growth rate of volume in Timor-Leste stood at +1.3%.

Hop Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of hops were exported in South-Eastern Asia; shrinking by -52.1% on the year before. In general, exports, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by 3,519%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, hop exports fell markedly to $X in 2022. Overall, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2021 with an increase of 1,829% against the previous year. As a result, the exports attained the peak of $X, and then shrank rapidly in the following year.

Exports by Country

In 2022, Singapore (X tons) represented the key exporter of hops, comprising 72% of total exports. It was distantly followed by Thailand (X tons), generating a 25% share of total exports. The Philippines (X kg) followed a long way behind the leaders.

Singapore was also the fastest-growing in terms of the hops exports, with a CAGR of +40.6% from 2012 to 2022. At the same time, Thailand (+10.7%) displayed positive paces of growth. By contrast, the Philippines (-34.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore and the Philippines increased by +58 and +1.5 percentage points, respectively.

In value terms, Thailand ($X), Singapore ($X) and the Philippines ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 97% share of total exports.

Singapore, with a CAGR of +27.4%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, shrinking by -32.4% against the previous year. Overall, the export price, however, showed a slight increase. The most prominent rate of growth was recorded in 2018 when the export price increased by 1,885%. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+14.1%), while the other leaders experienced mixed trends in the export price figures.

Hop Imports

Imports in South-Eastern Asia

In 2022, the amount of hops imported in South-Eastern Asia skyrocketed to X tons, growing by 19% on 2021 figures. The total import volume increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 32%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, hop imports skyrocketed to $X in 2022. In general, imports saw prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 40%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Vietnam represented the largest importer of hops in South-Eastern Asia, with the volume of imports recording X tons, which was near 46% of total imports in 2022. Thailand (X tons) took a 30% share (based on physical terms) of total imports, which put it in second place, followed by Cambodia (7.6%), Singapore (6.6%) and the Philippines (5.8%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cambodia (with a CAGR of +16.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2022, with a combined 87% share of total imports. Cambodia, Indonesia and Singapore lagged somewhat behind, together accounting for a further 10%.

Cambodia, with a CAGR of +22.5%, 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 South-Eastern Asia amounted to $X per ton, increasing by 4.1% against the previous year. Import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hop import price increased by +91.6% against 2014 indices. The most prominent rate of growth was recorded in 2018 when the import price increased by 39% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per ton), while Singapore ($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 (+13.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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