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Global Cider Market Growth, Size, Share, Industry Report and Forecast to 2026
The global cider market is estimated to grow at a CAGR of nearly 5.7% during the forecast period. There is an increasing comfort among consumers for using smartphones to purchase groceries, however, the consumers are now increasingly using this platform to skip trips to the liquor store. As the internet being a crucial part of everyday lives of people, the consumers of alcoholic drinks are also using e-commerce platforms. E-commerce has become a game-changer for several industries including alcoholic beverage space. After the purchase of grocery giant Whole Foods by Amazon in 2017, and the online giant’s plans of opening dozens of new grocery stores in several major cities of the US; the entire food and beverage industry has entered into the space of e-commerce transformation and digital competition.
Increasing number of internet users have increased the focus of alcoholic beverage manufacturers to shift their focus towards online sales. The countries of Asia-Pacific, as well as the European region, have shown significant growth in the number of people using the internet. As per the International Telecommunication Union, countries such as UK and Norway have one of the highest penetration rates across the globe. Whereas countries such as India, China, Philippines, Vietnam has shown great potential with an extremely fast adoption rate. As per the Asia-Pacific Economic Co-operation (APEC), there was 55.8% internet penetration in the country which equals to 772 million internet users in 2017. The increasing number of internet users is expected to affect the online sales of cider brands.
The alcoholic beverage producers and distributors may leverage the e-commerce opportunity to differentiate their brand from other competitors as significant number of businesses still conduct their operations through conventional offline sales. The current state of online sales for alcoholic beverages creates ample opportunity for the growth of the global cider market in the near future. Creating an online presence would provide several benefits to the cider providers. When online transforming the cider business, this will enable vendors to capture and process all important data of the customers. For instance, with an eCommerce platform integrated with a built-in CRM, vendors can obtain a 360-degree view of each customer and can get valuable insights into their preferences for alcohol. Based on the gathered information, vendors can introduce extremely targeted and personalized marketing initiatives to grow their business. Thus, online sales channels acts as a major benefit for cider companies, which in turn, will support the growth of the global cider market.
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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