Cider Market is Considered as One of the Rapidly Growing Dynamic Markets

The global cider market size was estimated at USD 4.33 billion in 2018 and is anticipated to register a CAGR of 3.1% from 2019 to 2025. Increasing demand for premium spirits on account of rising per capita income as well as consumption of alcohol as a status symbol are among the major growth drivers. Consumers increasingly prefer heritage, quality, and innovation in alcoholic drinks.
Adoption of premium products, particularly by millennials owing to the increasing standard of living is one of the key trends observed in the market. Millennials, on account of being health conscious, are more inclined towards fruit-based drinks. The reduction of beer consumption in developed countries such as U.S. and U.K. has added to the growth of improved craft ciders. For instance, in 2017, HP Bulmer Limited, launched two products of Kier’s Clody Apple and Sarah’s Red Apple.
U.S. cider market
The product is touted as a gender balanced category where male drinkers account for 51% while females account for 49%. This proportion constitutes 40% of people in the age bracket of 20 to 30 years. The younger generation tends to drink less alcohol and choose healthier options across various categories putting cider as one of the preferred drinks. Dry cider contains low sugar and carbs and is considered healthier compared to traditional beers.
Prominent players plan to continue to focus on innovative and healthy ingredients in the forthcoming years. For instance, in March 2017, H Weston & Sons Ltd. expanded their product portfolio with the brand Rosie’s Pig Rusted Wheel with a new cherry flavored cloudy cider. Aspall launched a premium product of mid-strength cider called Aspall Cyder, which includes a mix of culinary and variety of bittersweet apples. In June 2016, Smirnoff launched fruit flavored products in U.K. with two new flavors, namely, Smirnoff Sorbet with Raspberry Pomegranate and Passion Fruit with Lime.

To Know More Information @ https://www.grandviewresearch.com/industry-analysis/cider-market

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