Cider Market Size, Share, Growth, Trends and Industry Analysis Report, 2019 to 2025
by Susan Hill Business ConsultantThe
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 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.
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
Access full
research report on global cider market:
www.grandviewresearch.com/industry-analysis/cider-market
Sponsor Ads
Created on Oct 15th 2019 08:55. Viewed 478 times.