"I think that bodes well for the future," Hodgson told reporters. "I believe England have a very strong basis for a team, it's very young.
"These players, within the space of two years, will play in the Premier League and they will get better and stronger as an England team.
"I have never doubted this team will become stronger and better, and we will just for the moment have to suck on this very bitter pill, that our hopes and dreams have floundered here because we were unable to win the games."
Out of Hodgson's 23-man squad for the World Cup only five players were over the age of 30.