Cider Market Poised To Augment The Industry At $ 5.37 Billion By 2025 : Grand View Research Inc.
San Francisco, 16 October 2019: The Report 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
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.
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.
Access Research Report of Cider Market @ https://www.grandviewresearch.com/industry-analysis/cider-market
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
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)
- Sparkling
- Still
- Apple wine
- Others
- Apple
- Fruit Flavored
- Perry
- Other Vegan Sources
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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