New Jersey, NJ, Jan. 21, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global cider market is expected to grow from USD 4.34 billion in 2018 to USD 5.43 billion by 2026, at a CAGR of 3.81% during the forecast period 2019-2026. The growing popularity of alcoholic drinks, shifting consumer preference towards cider drinks, increase in urbanization and globalization are anticipated to drive the global cider market over the forecast period.
Cider is a low alcoholic beverage made from apple and other fruit juice such as perry by alcoholic fermentation. Cider has many alternative names in different regions such as sidre (Italy), sidra (Spain), or applewein (Germany and Switzerland). Cider alcohol content varies, generally, between 3% and 8.5%, but some continental cider goes to 12% alcohol. On the basis of alcohol content, cider is classified as soft cider (1–5%) or a hard cider (6–7%). In UK law, cider must contain at least 35% apple juice (fresh or from concentrate). In the United States, there is a 50% minimum. In France, cider must be made solely from apples. The cider appearance ranges from cloudy with sediment to completely clear, and their color ranges from almost clear to amber to brown.
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Global Cider Market Key Findings:
- Factors such as the growing popularity of alcoholic drinks, shifting consumer preference towards cider drinks, increase in urbanization and globalization are driving the global cider market.
- The volatility in the raw material prices such as apple, perry, and other fruits and erratic supply of raw materials are expected to hinder the market growth. However, the seasonal production of raw materials and climatic changes are the major challenges for the global cider market.
- The type segment is divided into apple flavored, fruit flavored, perry, and others. The apple cider segment emerged as the leader in the global cider market with around 60% market share in 2018. A number of apple varieties have been in use for the preparation of cider, which includes bittersweet, bittersharp, sharp, and sweet.
- The packaging segment includes cans, bottles, stand up pouches, and others. The can segment is anticipated to grow at the highest CAGR of 6.5% over the forecast period. This increased growth rate can be attributed to the growing utilization of cider can in the on-trade segment such as bars, pubs, and restaurants.
- The distribution channel is fragmented into on-trade and off-trade. The on-trade distribution channel grows at the highest rate, owing to the increase in pubs & bars and a rise in disposable income of emerging economies.
- The regions analyzed for the global Cider market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Europe region emerged as the largest market for the cider with a 40.03% share of market revenue in 2018.
- Factors such as higher production, presence of a large number of key players, high consumer demand led the Europe region to dominate the global Cider market in 2018.
- The North America region is expected to be the fastest-growing region in the global cider market during the forecast period. The increasing millennial segment that shows interest in the cider, rising local production of cider in the U.S., and growing trend of a healthier lifestyle are some of the major factors boosting the growth of the market in the North America region.
- Major players in the global Cider market are SABMiller Plc, Heineken N.V., Halewood Wines & Spirits, Distell Group Limited, Carlsberg A/S, C&C Group Plc, Aston Manor Brewery, Diageo plc, Thatchers Cider, and Kopparbergs Brewery among others.
- Global cider market is a very fragmented market with the presence of many international players as well as small local players. Key strategies such as product development, innovation, merger and acquisition, and geographical expansion have been adopted by the key market players to gain a comparative advantage in the market.
- For instance, in August 2018, French farming cooperative Agrial announced the acquisition of Aston Manor Cider to expand the cider product offering and to combine the customers.
- For instance, in 2017, Diageo announced the launch of its first cider brand in Kenya to take advantage of a burgeoning market of affluent younger consumers who are drinking more amid otherwise slowing global alcohol consumption.
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About the report:
The global cider market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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