Innovation in Flavors Drives Demand for Cider, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) August 02, 2013 -- Follow us on LinkedIn – Cider has traditionally been a small niche in the global alcoholic beverage market. However, cider continues to outshine other segments in the market in several parts worldwide. Cider demand has been particularly resilient during the recent economic downturn, when other alcoholic beverages witnessed declines in consumption patterns. This is primarily because of consumer preferences shifting towards craft beer and cider away from mainstream beer, in several markets worldwide. This in turn is due to increasing awareness among consumers about cider, which is a gluten-free, fruit-based drink that provides a natural substitute to strong-alcohol drinks. Growth in the market is mainly driven by innovations at the product level including in flavors, flavor mixes, and packaging. Also driving growth are manufacturers’ efforts to brand cider as a healthier gluten-free alternative to other alcoholic spirits.
Cider is benefiting from increasing preference for less-bitter, easier drinking beverages among consumers worldwide. This trend is also supported by higher demand for processed food, which is pushing the beverage market towards sweeter products. Younger consumers show higher inclination towards sweeter products, which is likely to draw them towards cider more than other alcoholic drinks. Growing penchant for healthy foods is also expected to spur the popularity and consumption of cider, as cider is primarily a fruit-based drink. Although RTDs have been preferred products in this space, the higher use of artificial ingredients is expected to shift consumer demand towards cider. Younger consumers are more inclined towards trying new drinks and new flavors, which is a welcoming aspect for cider market that has been rolling out several new flavors over the recent years. Besides, cider works well in social drinking, especially in occasions where men and women prefer to consume the same type of drink.
The global cider market continues to be dominated by mid-stream and premium brands. Much of the demand for cider in the market today lies in the mid-stream market. Women, the largest consumers, prefer mid-stream products with occasional switch to either ends of the spectrum, displaying a hybrid consumption pattern. The need for foraying into these extreme product segments is evinced by the success of cheap beers that account for a fifth of the global market. In a bid to attract more consumers towards cider drinking, manufacturers have been expanding their portfolio with the launch of new flavors and flavor mixes, a trend that is expected to continue in the years ahead. Targeting women as a customer base has significantly benefited cider consumption growth worldwide. Manufacturers’ efforts to attract beer/alcohol-averse and low-alcohol women consumers through the launch of various flavors have paid off. With the female population accounting for a significant share in the market, manufacturers are expected to continue with their efforts to drive consumption.
As stated by the new market research report on Cider, Europe represents the single largest market worldwide. Within Europe, the UK represents the largest market for cider. The UK and Ireland represent the traditional strongholds for cider consumption, where cider consumption as a percentage of beer consumption remains the highest worldwide. Despite being a relatively mature market, the UK provides ample room for further expansion. The United States represents the fastest-growing market with a projected CAGR of 18.6% over the analysis period. Growth in the country is led by growing perception of cider being an alternative to wine or beer.
Major players covered in the report include Aston Manor Brewery, C&C Group plc, Carlsberg A/S, Distell Group, Halewood International Holdings PLC, Heineken UK Ltd., SABMiller Plc, Foster’s Group, Carlton & United Breweries Limited and The Boston Beer Company Inc.
The research report titled “Cider: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in value (US$) and volume (liters) for all major geographic markets including the US, Canada, Europe (France, Germany, Ireland, UK, Spain and Rest of Europe), Asia-Pacific (Australia, China and Rest of Asia-Pacific), Latin America, South Africa and Rest of World.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Cider_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, 408-528-9966, [email protected]
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