The latest market report published by Credence Research, Inc. “Global Cider Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The Global Cider Market generated revenue of around USD 4.60 billion in 2020 and anticipated to grow at a CAGR of over 3.68 % during the forecast period from 2021 to 2027 to reach around USD 5.87 billion in 2027.
Global Cider Market, 2020 – 2027 (USD Million)
Browse the full report at https://www.credenceresearch.com/report/cider-market
Cider is an alcoholic beverage, produced from complete or partial fermentation of apple juices which contains comparatively less alcohol content than other alcoholic beverages. Cider is prepared from specific grown apples which are bitter in order to provide a particular taste. Further, it is a gluten free alcohol beverage and contains polyphenols enhancing nutritional value. Cider is one of the popular beverages in the Europe region especially in the United Kingdom and Germany. Furthermore, rising demand of low alcoholic beverages among consumers owing to health concerns and variety of flavors available in the market propels the cider market growth.
Key Trends in Global Cider Market
Shifting consumer preference towards low alcoholic beverages
Changing consumer preferences of buying gluten free products and rising inclination towards consuming low alcoholic beverages across the globe is one of the major driving factors for the growth of cider market. Cider is widely consumed in European region, and around 39% of cider market is covered by UK across the globe. The factors such as rising number of e-commerce platforms, growing demand for flavored and non-alcoholic beverages propels the market growth in the developed regions. In addition, rise in standard of living and increasing adoption of premium products especially from millennial population escalates the demand of cider in the near future.
Low alcohol drinks contain more sugar than normal and led to rise in blood sugar level while surplus alcohol can drop the blood sugar level. However, high sugar content in cider is major hindering factor which may affect the cider market growth. Furthermore, growing awareness among millennial population along with increasing popularity in emerging markets such as Asia Pacific, Latin America and Middle East & Africa expected to boost the market in the forecast period.
Impact of COVID 19 on Cider Market
The COVID-19 has moderate impact on the growth of cider market as the demand from end user industries. The recent outbreak of coronavirus infectious impacted to shut down of restaurants, retail stores along with sudden reduction in production rate declining the demand cider market. However, the demand of cider is seen moderate growth from off trade and convenience store. So, post lockdown, the main challenge for cider brands is to sustain and keep engaging with off trade consumers.
Global Cider Market by Product Insights
On the basis of product type, the market is segmented into Sparkling, Apple wine, Still and others. Sparkling segment accounted for the largest share in 2020 of the Cider Market. The alcoholic percentage can range from 1.2% to 8.4% and it is known as hard cider. Further, strong demand for gluten free beverages and changing consumer preferences from alcoholic beverages to sprinkling cider, still and other driving the strong demand for cider market.
Global Cider Market by Source Insights
On the basis of source, the global cider market is segmented into Apple, Fruit flavored, Perry, Others. Among all segments, the apple flavored segment accounted for the major share. This can be attributed to health benefits associated with apple cider along with growing consumer awareness about nonalcoholic beverages. Fruit flavored segment is expected to show moderate growth in the forecast period owing to increasing demand for flavored beverages by population.
Global Cider Market by Regional Insights
Europe market is accounts for major revenue share to the global market. This is attributed to high demand for Cider in the region is due to high spending power of consumers for premium products. The Europe Cider market is projected to contribute major revenue shares in the global market. This is attributed to higher consumption rate of low alcoholic beverages in the UK and Germany and is accounted for around 40% of market share. The North America cider market is expected to contribute moderate revenue shares in the global market, owing to increase in consumer spending and changing buying trends of millennial population. Furthermore, the markets in Asia Pacific, Middle East & Africa and Latin America are expected to register moderate growth rate during the forecast period.
Global Cider Market Competitive Landscape
The cider market is intensely competitive and concentrated with the presence of several key players. Most prominent players in the global Cider Market include Carlsberg A/S, Halewood Wines & Spirits, Heineken N.V., Distell Group Limited, C&C Group Plc, SABMiller Plc, Kopparbergs Brewery and Thatchers Cider. These key players in the market continuously focus on new product development and product advancement to gain a competitive edge in the market. The report covers very detailed profiles of these key players. Furthermore, major key players also investing in merger and acquisition to gain the major market share. For instance, in June 2020, Aashi has officially acquired Australia’s Carlton and United Breweries, the biggest brewer in Australia. Through this acquisition, Asahi Beverages is able to offer broader range of great flavored beverages to consumers.
Global Cider Market by Product, 2015 – 2027
· Apple wine
Global Cider Market by Source, 2015 – 2027
· Fruit flavored
Global Cider Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Cider Market: Key Players
· Carlsberg A/S
· Halewood Wines & Spirits
· Heineken N.V.
· Distell Group Limited
· C&C Group Plc
· Aston Manor Brewery
· Diageo plc
· SABMiller Plc
· Kopparbergs Brewery
. Thatchers Cider