World: Hops planted area set to decline further in 2023
Global hops planted area is set to decline further in 2023 (-3.8% globally) continuing a downtrend from the peak hops area in 2021, as reported by Hopsteiner.
Struggles from the craft brewing industry during the pandemic and subsequently have greatly reduced hops demand. In conjunction with higher hops production (both in yields and alpha-acid content), inventory levels for hops and hop products have been increasing. The result has been a need to further reduce hops production in an attempt to re-balance hop stock levels.
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