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.
Portland, OR -- (SBWIRE) -- 02/21/2018 -- 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, according to a new report published by Allied Market Research. 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.
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.
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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.
The different cider packaging considered in this report include draught, cans, glass bottles, plastic bottles, and others, majorly including bag in box. The cans packaging is anticipated to grow at the highest rate, owing to the trend for craft branding and quality drinks. Moreover, the cans cool down faster compared to glass and are infinitely recyclable, thus, supporting sustainable growth.
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