Covina, Oct. 19, 2023 (GLOBE NEWSWIRE) -- What is a cider market?
Cider is an alcoholic beverage made from fermented fruit juices with a low alcohol content. Cider, sometimes known as hard cider, is most typically made with apples. Perry is a cider-like product made from fermented pear juice. Because of the fruit content in cider, it provides vitamin-C and antioxidants when consumed that help reduce the risk of heart disease and asthma.
Increasing demand for beverages with low alcohol content is propelling growth of the global market. Rapidly growing population, increasing spending capacity and changing lifestyle patterns of an individual across globe has driven the demand for target market growth. Companies in the market come up with new product innovations in terms of taste and sophistication which is likely to propel Cider market growth.
Key Developments in Cider Market
- In February 2022, Bira 91 entered into cider category with launch of new product ‘Hill Station Hard Cider Ales’. The new launched product is of new category beyond beers including ciders and are available in 330 ml of bottles and cans across Bengaluru, India for INR 150.
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Report Scope:
| Attributes | Details |
| Cider Market Value (2022) | US$ 4.8 Bn |
| Cider Market Projected Value(2032) | US$ 6.3 Bn |
| Cider Market CAGR (2022-2032) | 3.7% |
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Prominent Players in Cider Market
- Heineken International
- Seattle Cider Company
- Britannica Company
- Vander Mill Ciders
- Carlsberg Breweries
- The Boston Beer Company
- Anheuser-Busch Company
- The Cyder Market LLC.
- Woodchuck
- Crispin Cider Co.
- Miller Coors LLC.
Analyst View:
Rising preference for cider among adults and presence of prominent players has become a leading factor in target market growth. Social acceptance of low alcohol beverage in emerging countries is anticipated to increase the demand for Cider market growth over the forecast period.
What are the unique challenges and opportunities for craft or artisanal cider producers?
Craft or artisanal cider producers face both unique challenges and opportunities in the cider market. These small-scale, often independent cider makers focus on producing high-quality, distinctive ciders, which can set them apart from mass-produced commercial brands. Here are some of the challenges and opportunities specific to craft cider producers:
Challenges:
- Limited Resources: Craft cider producers often operate on a smaller scale, which can mean limited financial and operational resources. This can make it challenging to compete with larger, more established cider companies.
- Distribution: Getting their products to market can be a challenge for craft cider producers, as they may struggle to secure distribution deals with major retailers and bars. Distribution logistics can be complex and expensive.
Opportunities:
- Unique Flavors: Craft cider makers have the flexibility to experiment with unique and innovative flavors, appealing to consumers looking for distinctive and artisanal options.
- Quality and Authenticity: Craft cider makers can emphasize the quality and authenticity of their products, which can resonate with consumers seeking premium, handcrafted beverages.
How has the COVID-19 pandemic affected the cider market, and are there any lasting changes in consumer behavior?
The COVID-19 pandemic initially led to a decline in on-premises cider sales, prompting a shift to off-premises channels and a focus on home consumption. This temporary shift highlighted the importance of e-commerce, convenience, health and wellness, local and sustainable choices, and canned formats in the cider market. These changes in consumer behavior, including a newfound preference for enjoying cider at home, are expected to have a lasting impact on the industry even as the pandemic subsides.
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Conclusion:
The cider market is experiencing a steady growth trajectory driven by increasing consumer preference for craft and flavored ciders. This market is also benefiting from the demand for gluten-free and lower-alcohol beverage options. The expansion of cider offerings, both alcoholic and non-alcoholic, along with innovative packaging and marketing strategies, is contributing to its appeal among a diverse consumer base. However, regional variations and changing consumer tastes pose challenges for cider producers. In conclusion, the cider market shows promising opportunities for growth, driven by evolving consumer preferences and the industry's ability to adapt to changing trends.
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