Cider Market Will Generate Record Revenue: $26.21 Billion by 2031 With CAGR of 5.0%

Global cider market size was valued at $14,570.3 million in 2020, and is projected to reach $26,211.2 million by 2031, registering a CAGR of 5.0%

WILMINGTON, DELAWARE, UNITED STATES, April 29, 2024 /EINPresswire.com/ -- The apple-based ciders occupied more than half of the share in the global cider market in 2020. Cider is a gluten-free low alcohol beverage, and is replacing beer among people who prefer gluten-free drinks. Furthermore, rise in health concerns in the global population and several risks associated with alcohol consumption fuel the daemand for new classes of alcoholic drinks, such as low or no alcoholic beverages. Thus, the market grows at the highest rate as compared to other alcoholic drinks.

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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.

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.

Key market players

Anheuser-Busch Companies LLC
Aston Manor
Asahi Premium Beverages
Carlsberg Breweries A/S
C&C Group plc
Distell
Carlton & United Breweries (CUB)
Heineken UK Limited
Halewood
· The Boston Beer Company.

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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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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Allied Market Research
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