Cider Market to Develop at a Rapid Rate Due to Surge in Global Demand Upcoming Years

August, 2023 - Market Research Future has Published a Research Report on the Global Cider Market.

Overview

Cider market is projected to grow from USD 2.48 Billion in 2023 to USD 9.52 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.30% during the forecast period. The surge in consumption of alcoholic drinks has improved the demand for cider beverages beneficially. Reports that gauge the food, beverages, and nutrition industry have been made accessible by Market Research Future, which generates reports on several industry verticals that review the market progress and forecasts.

The cider market has grown in terms of its demand as the number of consumers who prefer alcoholic drinks has also increased. Improvement in the packaging design and increased spending on the advertising budgets is anticipated to motivate the expansion of the market. Furthermore, improvement in the distribution channels is expected to encourage the market for cider in the coming years.

Segmental Analysis

The segmental analysis of the cider market is carried out on the basis of source, type, and region. On the basis of source, the cider market is segmented into pear, cranberry, lime, apple, mixed fruit, and others. Based on the type, the cider market is segmented into sweet cider, still cider, dry cider, sparkling cider, and others. On the basis of region, the cider market consists of North America, Europe, Asia Pacific, and the rest of the world.

Detailed Regional Analysis

The cider market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Among these regions, the European region has the key market share. The North American region follows the European region in the cider market. Moreover, the presence of emerging markets like China and India have been considered as prospective markets for the global cider market due to the rising demand for alcoholic drinks.  

Competitive Analysis

The amplified demand levels prevailing in the market are expected to induce a sustainable business environment fostering constructive progress. The favorable alignment of the consumer buying patterns is expected to increase the rate of advancement of the market. The positive shift in regulations in the market is anticipated to create a conducive environment for progress in the coming years. The incidence of favorable market prospects is anticipated to further create profitable growth outcomes in the market. The market is expected to exhibit an increased growth momentum due to the presence of positive market growth indicators. The synchronization achieved in terms of the micro and macro growth factors is projected to strengthen the market’s expansion further. A significant ascent in the number of promoters in the market is estimated to craft a beneficial state of affairs for the development of the market in the projected period.

The foremost competitors studied in the cider market are Bulmer (Scotland), Stella Artois (Belgium), Pimm (England), Rekorderlig (Sweden), Carling (England), and Kopparberg (Sweden) to name a few.

Industry Updates:

Jan 2019 Cider brand Kopparberg has introduced booze free versions of its three most well-liked cider flavors, namely Mixed Fruit, Strawberry & Lime, and Pear. The news comes as Ireland's first non-alcoholic bar gets set to open its doors in Dublin city center.

May 2019 Costco is retailing a variety pack of canned ciders in blood orange, original, rosé, and watermelon flavors. This limited-edition release has 5 percent ABV. The cider is produced by the company, Austin Eastciders in Texas.

May 2019 Molson Coors has distributed an array of top fruit ciders to be distributed across 160 All Bar One and Premium Country Pubs. The range, termed Pip & Wild, is launching on draught, solely with Mitchells & Butlers through the rest of the year. The first flavor offered will be Wild Strawberry & Rose. The innovative range is the first to be introduced from Aspall since Molson Coors procured the business over a year ago.