Business Food and Beverages Health Uncategorized World

Cider Market Set For Rapid Growth, To Reach $16,252 Million by 2023, It is grow at a CAGR of 6.1%

Cider Market
Cider Market
Press Release

Cider market was valued at $10,667 million in 2016, and is projected to hit $16,252 million by 2023, growing at a CAGR of 6.1% from 2017 to 2023. The apple based ciders occupied more than half of the share in the global market in 2016.

Cider is a gluten-free low alcohol beverage, and is replacing beer among people who prefer gluten-free drinks. Furthermore, increase 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 cider market is growing at highest rate as compared to other alcoholic drinks.

The growth of the global cider market is driven by high demand for gluten-free drinks and rise in preference for low alcohol beverages. The natural and fruit base of cider is further supporting 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 opportunities for the market during the forecast period.

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The fruit flavored segment is the most lucrative in the global cider market, owing to the varieties available and innovations done by different manufacturers to attract customers. Moreover, people are concerned about their health and prefer low alcohol & gluten-free beverages, which is augmenting the demand for cider. In addition, the presence of various popular brands such as Kopparberg, Woodchuck, and Angry Orchard boosts the expansion of premium quality cider. Cider market is more concentrated in Europe region and growing rapidly in North America. Developing regions of Asia-Pacific and LAMEA are anticipated to provide great opportunities to the market in the forecast period.

Consumers purchase cider by two channels, that is, on-trade, including bars, pubs, and restaurants for immediate consumption as well as off-trade, including supermarkets & hypermarkets, specialist retailers, convenience stores, and others for residential consumption. The on-trade distribution channel grows at the highest rate, owing to increase in pubs & bars and rise in disposable income of emerging economies.
The different cider packaging considered in this report include draught, cans, glass bottles, plastic bottles, and others, majorly including bag in box. The cans packaging is anticipated to grow at the highest rate, owing to the trend for craft branding and quality drinks. Moreover, the cans cool down faster compared to glass and are infinitely recyclable, thus, supporting sustainable growth.

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Key Findings of the Cider Market:
• Europe was the dominant region in 2016, occupying more than half of the cider market share.
• Cans packaging is expected to growth at CAGR of 6.5%, in terms of value, during analysis period.
• North America registers the highest growth rate, and is expected to grow at CAGR of 10.6% during the forecast period.
• Apple-based ciders was the major segment of the market in 2016, and is anticipated to grow at the significant CAGR of 5.7% during the analysis period.
• On-trade distributing channel is anticipated to be grow at CAGR of 6.4%.
Europe dominated the market with more than half of market share in 2016, and is anticipated to continue its dominance during the forecast period. Furthermore, North America and Asia-Pacific are projected to grow at the highest CAGRs, owing to continuously increasing popularity of the beverage in the regions.

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The major players analyzed in this report 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.

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