Market Dynamics —
Global Cider Market is estimated to be valued at USD 6,560.2 million, with a CAGR of 5.30% from 2020 to 2024 (forecast period). The report assesses the COVID-19 impact on the industry, including future opportunities and threats, drivers and risks, and market growth estimates based on different scenarios.
Cider is a beverage made from fermented apple juice, which is typically alcoholic in nature. Specific apples are grown for the preparation of a cider beverage in order to give the product a unique taste. The addition of sugar or any other fruit to the content of the second stage of fermentation is reported to result in higher alcoholic content. It is a trendy drink in the European market, notably the United Kingdom, with all the major cider producers in its own countries. The central region of Europe, with countries such as Spain, Belgium, among others, is known to make its brand of cider with Rhineland-Palatinate and Hesse, which adds a tart taste to the drink. It's a gluten-free drink that serves as an alternative to other alcoholic beverages.
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The growing tendency of customers towards low alcoholic drinks is considered one of the main factors in the cider industry's growth. However, high sugar content in cider is a significant factor that may hinder market growth due to alarming obesity rates in different regions.
Anheuser-Busch InBev SA (Belgium), Brännland Cider (Sweden), C&C Group PLC (Ireland), Aston Manor Cider (UK), Distell Group Limited (South Africa), Carlsberg A/S (Denmark), Halewood International (UK), Heineken Holding N.V. (Netherlands), The Boston Beer Company (US), The Molson Coors Brewing Company (US), Vander Mill (US), Celtic Marches Beverages Ltd (UK), Seattle Cider Company (US), Armagh Cider Company (UK), and Cider Ireland (Ireland) are some of the significant participants in the Global Cider Market.
The global market for cider has been segmented based on category, distribution channel, and region.
Based on the category, the global market has been classified as organic and conventional.
Based on the distribution channel, the global market has been classified as food retail, food service. The segment for food retail is further divided into hypermarkets & supermarkets, specialty stores, others.
Global Cider Market has been segmented into Europe, North America, Asia Pacific, and the rest of the world.
Europe is estimated to remain dominant throughout the forecast period 2019-2024, both in terms of value and volume. The cider market growth in European countries is expected to be driven by several factors. One of the key factors in the rising growth of cider in Europe is consumers' increasing tendency towards low alcohol consumption. In addition, the production of cider is exceptionally high in the European region. Most of the leading manufacturers of cider are concentrated in the European region. So, the countries of Asia Pacific, South America are depending on the countries of Europe. The UK and Germany together accounted for a significant market share in the European region in 2019, and the trend is likely to continue throughout the forecast period.
North America had an estimated 30% market share in the global market in 2020 and is projected to see a moderate growth rate during the forecast period. It is estimated that the US will remain dominant in North America throughout the forecast period 2019-2024.
The Asia Pacific region is expected to rise at the highest growth rate during the forecast period. The growth of the cider market in the Asia Pacific region is attributed to several factors. An increase in the millennial population and an increase in disposable per capita income is expected to push the growth of the Asia Pacific cider market during the forecast period.
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