Fruit-based ciders is anticipated to witness the highest growth rate, owing to their innovative flavors, natural ingredients, and less alcoholic content.
PORTLAND, OR, UNITED STATES, September 1, 2021 /EINPresswire.com/ — Cider Market by Product, Distribution Channel and Packaging: Global Opportunity Analysis and Industry Forecast, by 2023, the global Cider market is projected to reach $16,252 million by 2023, growing at a CAGR of 6.1% from during the forecast period. The apple based ciders occupied more than half of the share in the global market.
Cider is a gluten-free low alcohol beverage, and is replacing beer among people who prefer gluten-free drinks. Furthermore, increase in health concerns in the global population and several risks associated with alcohol consumption fuel the demand for new classes of alcoholic drinks, such as low or no alcoholic beverages. Thus, the cider market is growing at highest rate as compared to other alcoholic drinks.
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The growth of the global cider market is driven by high demand for gluten-free drinks and rise in preference for low alcohol beverages. The natural and fruit base of cider is further supporting the market expansion. However, high sugar content of cider is a restraining factor of the market. Conversely, rise in popularity of cider in Asia-Pacific and LAMEA regions is anticipated to provide potential opportunities for the market during the forecast period.
By product, the cider market is categorized into apple flavored, fruit flavored, and perry. Among these, apple flavored occupied the major share of the market in 2016, and is projected to maintain its dominance during the forecast period. Fruit flavored cider is anticipated to grow at highest CAGR in the future.
By distribution channel, the on-trade segment is anticipated to grow at highest CAGR during the analysis period, due rise in pub & bar cultures and high disposable income of people.
The different cider packaging considered in this report include draught, cans, glass bottles, plastic bottles, and others, majorly including bag in box. The cans packaging is anticipated to grow at the highest rate, owing to the trend for craft branding and quality drinks. Moreover, the cans cool down faster compared to glass and are infinitely recyclable, thus, supporting sustainable growth.
Europe accounted for more than half of the global cider market, and is expected to maintain its dominance during the forecast period. Moreover, North America and Asia-Pacific are expected to possess the highest CAGRs, owing to rise in health concerns among people and increase in popularity of cider in these regions.
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Key Findings of the Cider Market:
• Europe was the dominant region in 2016, occupying more than half of the cider market share.
• Cans packaging is expected to growth at CAGR of 6.5%, in terms of value, during analysis period.
• North America registers the highest growth rate, and is expected to grow at CAGR of 10.6% during the forecast period.
• Apple-based ciders was the major segment of the market in 2016, and is anticipated to grow at the significant CAGR of 5.7% during the analysis period.
• On-trade distributing channel is anticipated to be grow at CAGR of 6.4%.+
The major players analyzed in this report are Anheuser-Busch Companies LLC, Asahi Premium Beverages, Aston Manor, C&C Group plc, Carlsberg Breweries A/S, Carlton & United Breweries (CUB), Distell, Halewood, Heineken UK Limited, and The Boston Beer Company.
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Source: EIN Presswire