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Cider Market Expected to Reach $16,252 Million by 2023: North America Registers the Highest Growth Rate, and is Expected to Grow at CAGR of 10.6% during the Forecast Period

02-22-2019 06:56 PM CET | Fashion, Lifestyle, Trends

Press release from: Allied Market Research

Cider Market Expected to Reach $16,252 Million by 2023: North

Fruit-based ciders is anticipated to witness the highest growth rate, owing to their innovative flavors, natural ingredients, and less alcoholic content. In addition, people opt for can ciders, as they are light weighed and safe from UV rays. The global Cider market was valued at $10,667 million in 2016 and is projected to reach $16,252 million by 2023, growing at a CAGR of 6.1% from 2017 to 2023. The apple-based ciders occupied more than half of the share in the global market in 2016.

Cider is a gluten-free low alcohol beverage, and is replacing beer among people who prefer gluten-free drinks. Furthermore, increase in health concerns in the global population and several risks associated with alcohol consumption fuel the demand for new classes of alcoholic drinks, such as low or no alcoholic beverages. Thus, the cider market is growing at highest rate as compared to other alcoholic drinks.

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The growth of the global cider market is driven by high demand for gluten-free drinks and rise in preference for low alcohol beverages. The natural and fruit base of cider is further supporting the market expansion. However, high sugar content of cider is a restraining factor of the market. Conversely, rise in popularity of cider in Asia-Pacific and LAMEA regions is anticipated to provide potential opportunities for the market during the forecast period.

By product, the cider market is categorized into apple flavored, fruit flavored, and perry. Among these, apple flavored occupied the major share of the market in 2016, and is projected to maintain its dominance during the forecast period. Fruit flavored cider is anticipated to grow at highest CAGR in the future.

By distribution channel, the on-trade segment is anticipated to grow at highest CAGR during the analysis period, due rise in pub & bar cultures and high disposable income of people.

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In 2016, Europe accounted for more than half of the global cider market, and is expected to maintain its dominance during the forecast period. Moreover, North America and Asia-Pacific are expected to possess the highest CAGRs, owing to rise in health concerns among people and increase in popularity of cider in these regions.

The major players analyzed in this report 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.

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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