Craft Cider Market Global Information by Source (Apple, Pear, Lime, Cranberry, Mixed Fruit and others), Type (Dry Cider, Sweet Cider, Sparkling Cider, Still Cider and others), Packaging (Bottle, Can and others) and Region - Forecast to 2023
Pune, India -- (SBWIRE) -- 10/12/2018 -- Market Overview:
The global market for craft cider is expected to continue its growth over the forecast period due to rising demand and increasing varieties in flavors as well as types of craft ciders. Since craft cider market's growth is directly proportional to the scope of innovation due to highly competitive market, key players are investing in R&D for innovating product line. Moreover, leading players are also investing in partnership with various pubs, bars, and restaurant as the primary focus area to grow the consumer base. Among the wide range of flavors, which is appropriate for coeliac and is generally vegan, they are evaluated to hold a major share.
Craft Cider Market is projected to grow at CAGR of 9.2% backed by growing demand for craft cider and increasing varieties of craft cider are the key drivers responsible for the growth of the global craft cider market. Increasing awareness of varieties such as dry cider, sweet cider, sparkling cider, still cider and others.
Increased awareness about the ciders has raised the bar of quality, which, in turn, increased the market share of craft cider on the global level. Key players are also investing in R&D so as to focus on development of new product line with improved formulations. Craft cider is mostly consumed by women in the U.S. as well as in the U.K. Craft cider is loaded with fresh fruits and pressed fruit juices such as apple, pear, lime, cranberry, mixed fruits, and others. Hence, the market expected to grow at a CAGR of 9.2 % over the forecast period.
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The major competitors in this market are inclined to increase their footprints across the globe by acquiring local and regional players. Apart from this, the companies are introducing their products in the developing economies to penetrate the untapped market. Major players are also investing in R&D initiatives especially to develop superior & high quality products by including fresh and natural ingredients. This factor is likely to help them to penetrate the emerging craft cider market and fulfil the growing demand. Changing consumer preferences for natural and fresh products will support the sale of craft cider in the North American region.
Major Key Players Review:
This report includes the study of strategies such as mergers and acquisitions, product launches by the major craft cider market players. It further includes product portfolios, developments of leading major players, which includes
Some of the key players profiled in the global craft cider market include Polabský Mošt S.R.O. (Czech Republic), Molson Coors Brewing Company (U.S.), Rekorderlig (Sweden), Citizen Cider (U.S.), California Cider Company (U.S.), Angry Orchard Cider Company, LLC (U.S), and Ardiel Cider House (Canada), among others.
The milk based replacers is projected to be the largest and fastest growing.
Europe holds the highest market growth followed by Asia Pacific region.
Craft cider market is segmented on the basis of sources such as apple, pear, lime, cranberry, mixed fruit, and others. Craft cider dominates the market, because of its enrichment in various sources such as apple, pear, lime, cranberry, mixed fruit, and others On the basis of types, the market is segmented into dry cider, sweet cider, sparkling cider, still cider, and others.
On the basis of packaging, this market is segmented into bottle, can, and others.
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Craft Cider Market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Among these, North American region accounts for the major market share followed by Europe. Increased production of craft cider in the U.S. is expanding, with invention of new ciders every week generating higher revenue in the North America, during the forecast period. Changing consumer preferences for natural and fresh products will support the sale of craft cider drinks in various regions over the forecast period. Craft ciders market is growing rapidly in the U.S. that they are consumed more than wine. However, North American region is estimated to witness a maximum growth in the global craft cider market during the forecast period of 2017-2023.