British fondness for cider/perry has rubbed off on consumers across the pond as a growing percentage of beer drinkers in the US shift to cider/perry based alcoholic drinks. In fact, in the last 10 years, global sales of cider/perry have increased at nearly 7% CAGR. Although the UK still remains the largest market for cider/perry, growing popularity in the US and Australia is expected to boost the overall market in the next decade.
Key Factors Driving the Cider/Perry Market
Cider and perry have also benefitted from the growing demand for craft beer. Both value drinkers and quality pursuers are looking at cider/perry as an appealing alternative to beer.
In the mature markets of US and Australia, cider/perry brands are leveraging on the popularity of wine to boost adoption. Marketing cider/perry drinks as ‘apple wine’ has helped in gaining a new consumer base in these countries. A key trend observed in marketing cider/perry is its wine-style packaging.
Emerging Markets Expected to Contribute to Demand
In addition to the US, U.K., and Australia, cider/perry based alcoholic drinks are also gaining traction in emerging markets of New Zealand and Poland. Proximity to cider/perry drinking countries and presence of expatriate population is a key factor driving adoption. For example, nearly 700,000 New Zealanders live and work in Australia, a significant percentage, considering the population of New Zealand is less than 5 million. Trans-Tasman travel has introduced cider/perry to New Zealand, and although at a nascent stage currently, it is expected to emerge as another lucrative market for cider/perry manufacturers.
Europe: A Lucrative Market for Cider/Perry
The UK is without doubt, the epicentre of the global demand for cider, but other European countries are also developing into lucrative markets. Outside of the UK, Spain, France, Germany, and Ireland remain the largest markets for cider. While the cider market in the UK is quite mature, the Netherlands, Russia, and Italy are among the fastest-growing.
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Popularity of Cider/Perry at a Nascent Stage in Asia Pacific
For any alcoholic to go truly global, it needs to have a high adoption rate in Asia Pacific – home to nearly 60% of world’s population. Currently, awareness about cider/perry is low in Asia Pacific, and manufacturers have a task on their hands in some of the most populous regions where price constraints determine the choice of drink.
According to World Health Organization (WHO), China was next only to Tajikistan and Russia in terms of per capita consumption (2010 data). This is significant considering the fact that a significant percentage of China’s population are teetotallers. India, the second most populous region after China, consumes nearly 4.5 litres of alcohol per annnum. Considering India’s population of 1.25 billion, cider/perry manufacturers can tap into a plethora of opportunities in the two most populous countries in the world.
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Leading alcoholic-beverages companies have realised the immense potential of the cider/perry market and they have responded by incorporating cider/perry in their offerings. It is anticipated that in the near future, more brands will join the cider/perry bandwagon, giving consumers a wider range to choose from. However, this is expected to cut down on market share of the current leading players, such as Anheuser-Busch, MillerCoors, and Boston Beer Co.