The Global Cider Market is driven by increasing demand for low...

The Global Cider Market is driven by increasing demand for low alcohol beverages

Posted 2024-08-12 13:33:47

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The global cider market is primarily driven by the increasing popularity of low alcohol beverages, especially among millennial consumers. Cider, produced through the fermentation of apple or pear juice, contains less than 7% alcohol by volume and provides consumers with a refreshing low sugar alternative to beer and spirits. The demand for craft and specialty ciders produced using organic fruits is also on the rise due to the growing health consciousness. Key players operating in the cider market are offering a diverse portfolio including fruit flavored, premium acidic and pear varieties to cater to evolving consumer preferences.

The Global Cider Market is estimated to be valued at US$ 6.44 Bn in 2024 and is expected to exhibit a CAGR of 3.1% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the cider market are Heineken, Molson Coors, Kopparbergs Bryggeri AB, Carlsberg Breweries A/S, Distell, Schiehallion Brewery, and Halewood Wines & Spirits. These players are focusing on expanding their premium craft cider offerings and entering new markets globally to leverage growth opportunities.

The demand for Cider Market Size is growing rapidly across developed regions such as North America and Europe due to rising experimentation with cocktails and mocktails using cider. The millennial population, in particular, associates cider consumption with luxurious social drinking occasions and outdoor activities.

Asian countries are also witnessing increased popularity of cider owing to changing food habits and availability of innovative fruit flavors. Major companies have announced plans to set up new production facilities and expand distribution networks across Asia Pacific and Latin America to tap the high-growth markets.

Market Drivers
The increasing consumption of low alcohol drinks among health-conscious consumers is a key driver supporting the global cider market growth. Cider contains negligible sugar and calories making it a healthier alcoholic beverage alternative compared to beer and cocktails. Moreover, growing experimentation with diverse fruit flavors in cider holds potential to attract new users to the category. As a result, the market is expected to grow steadily over the forecast period.

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