Global Cider Market 2020 is projected to be valued at USD 6.56 billion by the end of 2024, at a 5.30% CAGR over the review period (2019-2024).
The market is expected that the global cider market will be powered by many variables. One of the key reasons for the raising growth of the cider industry at a global level is the increasing market tendency toward low alcoholic drinks. There is a increasing market for alcoholic beverages all over the world and more so because of the rising trends in pubbing among the younger population that has expanded cider intake. In addition, the growing prevalence of gluten allergens is also expected to fuel the development of the regions of North America and Europe. However, during the projected timeframe, the high sugar content in cider is projected to hinder the growth of the global industry.
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The sales of this drink have been boosted by the current developments in beer bars and restaurants, along with the numerous health benefits provided by cider drinks. The growing demand for gluten-free beverages and the growing preference for drinks with low alcohol content are the major factors that will lead to the growth of the global cider market during the forecast period. Another driving force behind the rise of the cider industry is experimentation with distinct blends and tastes.
In addition, the increasing controversy about the presence of synthetic additives in ready-to – drink drinks will complement the rise of the global demand for cider. Another factor driving the global cider industry is a rise in globalization and urbanization. In addition, this beverage is favored by the female population because it is fruity in taste and often sweeter. This demand is expected to be powered by the soothing flavor of this beverage. In addition, its tremendous use in various sectors is projected during the forecast period to boost the market. (2020-2024).
Aston Manor Cider (UK), Anheuser-Busch InBev SA (Belgium), BRÄNNLAND Cider (Sweden), C&C Group PLC (Ireland), Distell Group Limited (South Africa), Carlsberg A/S (Denmark), HALEWOOD International (UK), Heineken Holding N.V. (Netherlands), Celtic Marches Beverages Ltd (UK), The Molson Coors Brewing Company (US), Seattle Cider Company (US), The Boston Beer Company (US), Vander Mill (US), Armagh Cider Company (UK), and Cider Ireland (Ireland) are some of the major players in the Global Cider Market.
Global Cider Market has been segmented based on category, distribution channel, and region.
The global market has been classified, based on category, as organic, conventional.
The global market has been classified, based on distribution channel, as food retail, food service. The food retail segment is further divided into hypermarkets & supermarkets, specialty stores, others.
Among the countries, both in terms of value and volume, Europe is estimated to maintain its supremacy over the 2019-2024 forecast period. It is expected that the growth of the cider industry in European countries will be driven by many factors. The increasing market tendency towards low alcohol drinks is one of the important reasons for the the growth of cider in Europe. Other than that, cider production is extraordinarily high in the European zone. For the most part, primary cider producers are concentrated in the European region. Thus, the Asia-Pacific and South American countries are dependent on European countries. In the European region, the United Kingdom and Germany together account for a large market share in 2019 and the trend is projected to continue over the forecast period. In 2020, North America accounted for nearly 30 % of the global market share and expected a modest growth rate over the forecast period.
The US is expected to sustain its supremacy in North America during the 2019-2024 projection period.
The Asia-Pacific region, however, is expected to expand during the forecast period at the highest growth rate. Several factors are responsible for the growth of the cider market in the Asia-Pacific region. During the projected era, a growing millennial demographic and increasing per capita disposable income are expected to drive the growth of the Asia-Pacific cider industry.
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