Cider Market Projected To Display A Robust Growth With a CAGR of 5.0% by 2031

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.

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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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.

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.

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.

The major players analyzed for global cider industry are Anheuser-Busch Companies LLC, Asahi Premium Beverages, Aston Manor, C&C Group plc, Carlsberg Breweries A/S, Carlton & United Breweries (CUB), Distell, Halewood, Heineken UK Limited, and The Boston Beer Company. These major market players have adopted various strategies to expand their market reach. The strategies adopted in the market are product launch and acquisition. The new market players are also entering the market with new flavors.

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Covid-19 scenario:

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.

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