19-Aug-2019: The global cider market
size is expected to reach USD 5.37 billion by 2025, according to a new report
by Grand View Research, Inc. It is anticipated to register a CAGR of 3.1%
during the forecast period. Several factors including inclusion of fruits and
vegans across several product categories particularly beverages are the key
factors driving the growth.
Rising global
consumption of apples in beverages coupled with an increasing preference towards
fruit-based drinks have induced consumers with aspirational drinking in line
with new cosmopolitan consumers. It is anticipated to spur the demand for cider
over the next few years on account of rising acceptance of fruit cider, majorly
driven by millennials on account of choosing premium products of spirits and alcohol.
Premiumization is expected to be the key trend influencing the alcohol market
particularly in Europe.
Growing demand for
apple wine is witnessed in Europe, particularly in U.K., which is the largest
cider market in Europe. The varietal health benefits associated with apple on
account of large nutritional value is expected to boost the sales of apple wine
in the market. U.S. also represents high growth potential owing to a decrease
in the number of people consuming beer. The average cider consumption rate in
U.S. is 59 liters per person. Moreover, the baby boomers and millennial
consumers consume approximately one-third of cider annually.
The key market
players strive for product innovation as consumers focus on the ingredient
aspect of alcoholic drinks. Smaller players are entering the product category
with niche products to benefit from the market scenario. For instance, in March
2019, Adnams Brewery, a U.K. based brewer and pub operator, launched new
sparkling cider named Wild Wave including flavors of fresh apples, cut grass,
and mango. In November 2018, Thatchers Cider expanded their product portfolio
with the launch of Rose Cider which is produced with a combination of Pink
Lady, Fuji, and Gala dessert apples. The company also invested USD 18.24 million
in a new cider mill to expand its production capacity from 450 to 1000 tons per
day.
Moreover, companies
act on innovative ad campaigns and promotional activities. For instance,
Thatchers Cider is projected to be the official cider of the ICC Men’s Cricket
World Cup for 2019. The somerset cider producer avails the exclusive rights for
pouring its Thatchers Gold and Thatchers Haze brand during the matches.
In
depth research report on Cider Market
Further key findings from the report suggest:
·
In terms of revenue, still cider product is projected to
ascend at a CAGR of 3.3% over the forecast years
·
Sparkling cider led the global market with an overall volume
share of over 33.05% in 2018
·
Europe led with a market share of 37.76% in terms of revenue
in 2018. This trend is projected to resume over the next few years
·
The market is anticipated to witness growth owing to the
increasing consumption of apple cider in U.S., India, and China
·
Fruit flavored cider is anticipated to witness the fastest
growth, due to higher penetration of fruit based flavored beverages
·
The cider market is highly competitive in nature. The main
players include SABMiller Plc, Heineken N.V., Halewood Wines & Spirits,
SABMiller Plc, Heineken N.V., Halewood Wines & Spirit
·
Various manufacturers are concentrating on new product
launches, stressing on inclusion of fruit flavor and ingredients
Grand View Research
has segmented the global cider market on the basis of product, source, and
region:
Cider Product Outlook (Revenue, USD Million, 2015 - 2025)
·
Sparkling
·
Still
·
Apple wine
·
Others
Cider Source Outlook (Revenue, USD Million, 2015 - 2025)
·
Apple
·
Fruit Flavored
·
Perry
·
Other Vegan Sources
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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