by Some common types of cider include apple cider made from 100% pressed apples, pear cider from fermented pear juice, and fruit-flavored varieties with added flavors of berries, cherries or other fruits. The beverage has gained immense popularity among health-conscious individuals as it is considered as a natural alternative to beers and wines. Cider contains antioxidants from apples and pears and is low in calories and carbohydrates.
The global cider market has been witnessing tremendous growth over the past few years and is projected to be valued at US$ 6.44 billion in 2024.
Key Takeaways
Key players operating in the cider market are Anheuser-Busch InBev, C&C Group PLC, Carlsberg Breweries A/S, Molson Coors Brewing Company, Heineken N.V.
The growing consumer preference for healthier beverage options free from additives and preservatives has been fueling the demand for cider globally. The market has been witnessing higher adoption among millennials who seek low-alcohol beverages with natural ingredients. Ciders are considered as a refreshing alcoholic drink that can be consumed throughout the day rather than just as an evening beverage.
Major cider producers are focusing on international expansion into developing regions of Asia Pacific and Latin America to tap the market potential. Several companies have introduced their cider brands into new geographic markets and made strategic investments to boost global supply and distribution channels.
Market Key Trends
The rising trend of craft cideries producing unique flavors and specialty varieties has positively impacted the market growth. Small batch artisanal cider-makers are innovating with diverse ingredients like berries, herbs, and spices to create premium ciders appealing to evolving consumer tastes. There is significant growth in on-premise consumption of ciders in gastropubs, breweries and bars worldwide. The growth of experiential or “drink local” trend has supported sales through taprooms and tasting rooms at cideries.
Porter’s Analysis
Threat of new entrants: The Cider Market Size has high production cost and capital requirement for a new producer to enter the market which reduces the threat of new entrants.
Bargaining power of buyers: Buyers has moderate bargaining power as there are many established brands in the market but brand loyalty provides pricing power to some brands.
Bargaining power of suppliers: Suppliers has low to moderate bargaining power as raw materials required are perishable fruits which are widely available from farmers.
Threat of new substitutes: Low threat from new substitutes as cider has its own market however beer is a close substitute.
Competitive rivalry: The competitive rivalry is high as the market is dominated by few international brands and local regional brands competing on the basis of quality, taste, price and promotion.
Geographical Regions
North America region accounts for the largest share of the global Cider Market Size And Trends in terms of value due to high per capita consumption of cider products. Countries like US and Canada are major consumers and producers of cider where it is considered as an alternative to beer. Changing tastes of young consumers towards low-alcohol beverages is driving the market in the region.
Asia Pacific region is expected to grow at the fastest rate during the forecast period in the global cider market. Developing economies like China and India are witnessing rising disposable incomes and adaptation of western drinking culture which is supporting the consumption of cider. Domestic manufacturers are launching new products tailored for local tastes which is boosting the market growth opportunities.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
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