Cider Market is expected to reach the value of US$ 16.22 billion by the end of 2027.
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As per the Market Data Forecast, the Cider Market size was estimated to be worth 4.3 billion dollars in 2021, and it is estimated to be worth the USD $16.22 billion by 2027. During the anticipated period of 2022 to 2027, the global market is expected to grow at a CAGR of 6.1%.
Cider is a type of fermented drink having an alcohol percentage varying within the range of 1% to 8.5%. It is prepared from apple juice, generally using apples that are bitter and tannin-rich. Romans and Greeks have dominated the cider market for years, but the market has evolved over time in terms of flavour and fermentation. It is also called apple wine in some regions. The growth of the cider market is due to increasing health concerns and risks associated with alcohol consumption, along with the rising trend of non-alcoholic beverages.
Moreover, the rise in the demand for gluten-free drinks owing to changing customer lifestyles and increasing disposable incomes is also one of the major reasons for the growth of the cider market.
The most common style of cider packaging is a bag in a box, but some of the other options include draught, cans, plastic water bottles, glass and jars. Can cider's expansion be aided by the rising appeal of high-quality beverages and craft branding? Moreover, it can cool down more quickly than glass and are fully recyclable, both of which will accelerate market growth throughout the anticipated period. Cider's high sugar content is expected to restrain market expansion. On the market, the COVID 19 pandemic is expected to have a negative effect.
The Covid-19 pandemic interrupted manufacturing and had a serious impact on industrial sectors, producing market instability and production process disruptions. As a result, the market as a whole has several challenges, which restrict the market's overall growth. The market benefited from the rising use of online sales channels. By enabling purchases through the e-commerce sales channel, the market was given enormous prospects for expansion.
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Segmentation Analysis:
The global Cider Market segmentation includes:
By Type:
· Still Cider
· Sparkling Cider
· Draft Cider
· Apple Wine
· Others
The market is divided into Sparkling, Draft Cider, Apple wine, Still Cider, and other categories based on type. The global cider market's fastest-growing segment is sparkling cider. The non-alcoholic, carbonated version of apple juice is likewise regarded as a festive beverage, in contrast to champagne. The carbonated beverage also contains antioxidants, potassium, vitamin B, carbs, and other nutrients. Riboflavin and niacin are the two B vitamins that are included in sparkling cider, which support healthy nerve transmission, digestion, vision and energy production.
By Distribution Channel
· Hypermarkets
· Supermarkets
· Departmental Stores
· Convenience Stores
· Online Stores
The global cider market is segmented under Hypermarkets, Supermarkets, Departmental Stores, Convenience Stores and Online Stores on the basis of distribution channels. Due to the rising popularity of e-commerce websites among customers all over the world, the category of online retailers is predicted to account for the highest part of the global cider market during the forecast period. Moreover, increasing use of smartphones and internet penetration are also anticipated to positively impact the global cider industry.
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Regional Analysis:
The cider market is bifurcated into North America, Europe, Asia Pacific, and the rest of the globe on the basis of the regions. The major portion of the global cider market is in Europe. The chilly environment in the majority of European nations encourages the drinking of alcoholic beverages, and many of microbreweries have sprung up, satisfying the demand for craft ciders rather than their mass-produced counterparts over the anticipated time. Therefore, the South American region depends on European countries. In Europe, Germany and the UK collectively held significant market share in 2021, and the trend is expected to continue.
North America held almost 30% share in the global cider market in 2021, and it is predicted to have moderate growth during the forecast period. The United States under the North American region will dominate the market throughout the period 2022-2027.
As more customers are becoming health conscious, the growth in the Asia Pacific region is also predicted to increase as a result of the switch from beer to cider and because of its nutritional advantages. The market for alcohol with fruit flavours has expanded as a result of the rising trend of using fruit-sourced components across multiple product categories, majorly in beverages. Ciders with apple and fruit flavours are in high demand, especially in countries like China and India.
Latest Industry Developments:
Hundreds of jobs are being created in New York due to the popularity of hard cider, but orchards continue to be affected by inflation.
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