SAN FRANCISCO, June 18, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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
Read 75 page research report with TOC on "Cider Market Size, Share & Trends Analysis Report By Product (Sparkling, Still, Apple Wine), By Source (Apple, Fruit Flavored, Perry, Other Vegan Sources), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/cider-market
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.
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)
- Apple wine
- Cider Source Outlook (Revenue, USD Million, 2015 - 2025)
- Fruit Flavored
- Other Vegan Sources
- Cider Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- Asia Pacific
- Central and South America
- Middle East & Africa
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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