At a CAGR of 5.0% Cider Market is projected to reach $26,211.2 Million by 2031 | Europe was the Dominant Region
Cider Overview
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, June 9, 2023/EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Cider Market by Type, Packaging, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022–2031,” the global cider market size was valued at $14,570.3 million in 2020, and is projected to reach $26,211.2 million by 2031, registering a CAGR of 5.0% from 2022 to 2031. The apple-based ciders occupied more than half of the share in the global cider market in 2020.
The major players analyzed for global cider industry are Anheuser-Busch Companies LLC, Asahi Premium Beverages, Aston Manor, C&C Group plc, Carlsberg Breweries A/S, Carlton & United Breweries (CUB), Distell, Halewood, Heineken UK Limited, and The Boston Beer Company. These major market players have adopted various strategies to expand their market reach. The strategies adopted in the market are product launch and acquisition. The new market players are also entering the market with new flavors.
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Cider is a gluten-free low alcohol beverage, and is replacing beer among people who prefer gluten-free drinks. Furthermore, rise in health concerns in the global population and several risks associated with alcohol consumption fuel the demand for new classes of alcoholic drinks, such as low or no alcoholic beverages. Thus, the market grows at the highest rate as compared to other alcoholic drinks.
High demand for gluten-free drinks and rise in preference for low alcohol beverages drive the global cider market growth. The natural and fruit base of cider further supports the market expansion. However, high sugar content of cider is a restraining factor of the market. Conversely, rise in popularity of cider in Asia-Pacific and LAMEA regions is anticipated to provide potential cider market opportunities for the growth of the cider market during the forecast period.
According to cider market analysis, the market is segmented on the basis of type, packaging, and distribution channel. By type, the cider market is categorized into apple flavored, fruit flavored, and perry. Among these, apple flavored occupied the major share of the market in 2020, and is projected to maintain its dominance during the forecast period. Fruit flavored cider is anticipated to grow at highest CAGR in the future.
By packaging, the cider market is segmented into draught, cans, glass bottles, plastic bottles, and others, majorly including bag in box. The cans packaging segment is anticipated to grow at the highest rate during the forecast period, owing to the trend for craft branding and quality drinks. Moreover, cans cool down faster compared to glass and are infinitely recyclable, thus, supporting sustainable growth.
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By distribution channel, the on-trade segment is anticipated to grow at highest CAGR during the forecast period, due to the rise in pubs & bars culture and high disposable income of people.
In 2020, Europe accounted for more than half of the global cider market, and is expected to maintain its dominance during the forecast period. Moreover, North America and Asia-Pacific are expected to possess the highest CAGRs, owing to rise in health concerns among people and increase in popularity of cider in these regions.
Porter's five forces analysis for the ciders market highlights market competition in terms of the power of buyers, suppliers, manufacturers, and new entrants. Furthermore, shift in living standards of the consumers, as well as an increase in per capita income of the consumers has resulted in the launch of new products and the entry of new players in the market over the forecast period.
The impact of the COVID-19 pandemic on the global cider market was moderate, due to the supply chain disruption. All manufacturing and production units were halted during the outbreak. On the other hand, the surge in online sales resulted into positive impact on the market growth. Thus, the market is expected to recover from the pandemic in the upcoming years.
The growth of small and medium-sized ciders drives the growth of the market. Small organizations are more focused on traditional cider production, whereas big enterprises are more concerned with expanding their product portfolio. More dry cider brands have appeared on shop shelves in recent years.
Consumer preference is trending away from mass-produced beverages and toward microbreweries that make niche beverages. The market is also affected by these cider market trends, and as a result, many microbreweries rise to produce cider using a unique method. Craft ciders, for example, are becoming increasingly popular. These are handcrafted ciders manufactured in a unique way.
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Cider is becoming increasingly popular as a summer beverage because it is gluten-free and frequently sweeter and more refreshing than beer. Several cider producers say that the majority of their products are naturally gluten-free as cider is made from apples that does not contain gluten. The demand for gluten-free products increases as more people develop gluten sensitivity, which is linked to celiac disease, and with the rise in awareness for the need of consuming high-quality food and beverages. Gluten-free beverages also help with cholesterol levels and digestive health. As a result, customers are attracted toward natural, nutrient-rich beverages that provide various health benefits. Thus, the rise in demand for gluten-free alcoholic beverages is expected to drive the growth of the market during the cider market forecast.
Key Findings Of Study
Europe was the dominant region in 2020, occupying more than half of the cider market share.
The cans packaging segment is expected to growth at CAGR of 5.1%, in terms of value, during the forecast period.
North America registered the highest growth rate in 2020, and is expected to grow at CAGR of 7.7% during the forecast period.
Apple-based ciders was the major segment of the market in 2020, and is anticipated to grow at the significant CAGR of 4.7% during the forecast period.
On-trade distributing channel is anticipated to be grow at CAGR of 5.1% during the forecast period.
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David Correa
Allied Analytics LLP
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