PORTLAND, Ore., March 1, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Cider Market by Type (Apple Flavored, Fruit Flavored, and Perry), Packaging (Draught, Cans, Glass Bottles, Plastic Bottles, and Others) and Distribution Channel (On-trade and Off-trade): Global Opportunity Analysis and Industry Forecast, 2022–2031.” As per the report, the global cider industry generated $14.57 billion in 2020, and is projected to reach $26.21 billion by 2031, growing at a CAGR of 5.0% from 2022 to 2031.
Drivers, restraints, and opportunities
Rise in health concerns and risks associated with alcohol consumptions and increase in popularity of non-alcoholic beverages have boosted the growth of the global cider market. However, high sugar content of cider hinders the market growth. On the contrary, surge in popularity of cider in Asia-Pacific and LAMEA would open new opportunities in the future.
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- During the Covid-19 pandemic, the supply chain was disrupted due to trade restriction and strict regulations of lockdown. The challenges in procurement of raw materials and manufacturing create a gap in supply-demand.
- However, high penetration of online sale channels had a positive impact on the market.
The apple flavored segment dominated the market
By type, the apple flavored segment held the lion’s share in 2020, accounting for more than three-fifths of the global cider market, due to the ease in availability in the market. However, the fruit flavored segment is projected to portray the highest CAGR of 5.3% during the forecast period, due to its application in the food and beverage industry.
The cans segment to register the highest CAGR through 2031
By packaging, the cans segment is anticipated is estimated to register the highest CAGR of 5.1% from 2022 to 2031, due to the trend of craft branding and quality drinks. However, the draught segment held the lion’s share in 2020, contributing to around one-third of the global cider market, due to rise in consumption of premium & super-premium ciders.
North America to manifest the highest CAGR by 2027
By region, the global cider market across North America is anticipated to register the highest CAGR of 7.7% during the forecast period, due to its social acceptance in the region. However, the market across Europe held the largest share in 2020, accounting for more than three-fifths of the market, owing to continuous popularity of fermented fruit drinks and alcoholic beverages in Europe.
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Key market players
- Anheuser-Busch Companies LLC
- Aston Manor
- Asahi Premium Beverages
- Carlsberg Breweries A/S
- C&C Group plc
- Carlton & United Breweries (CUB)
- Heineken UK Limited
- The Boston Beer Company.
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SOURCE Allied Market Research