PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1425057
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1425057
The market expansion can be attributed to the following factors, increased consumer preference for packaged alcoholic drinks and rising demand for cider products. Furthermore, the use of premium cider products has increased as a result of consumers' growing disposable incomes, which is further boosting the global market for the cider packaging market. The industry has a strong need for new cider packaging ideas, and the rise of hard cider has mostly been fueled by the highly coveted millennial demographic. The expansion of the worldwide low-alcoholic beverage market is another factor driving the increase in demand for safe packaging. In addition, population factors including the Western way of life and growing urbanization over the projection period boost the growth of the worldwide market.
Cider is a low-alcohol beverage made from apples, pears, and other fruit juices that have been partially or completely fermented. The beverage contains 1.2% to 8.5% alcohol by volume (ABV), depending on the brand. Based on secondary fermentation and carbon dioxide infusion, ciders can either be still or carbonated. In comparison to other alcoholic beverages, the industry now has the fastest growth rates across all geographical areas which has in turn boosted the cider packaging market. Innovative packaging options are highly sought after in the cider packaging market, and the coveted millennial generation, which is fueling the packaging sector, has been a major factor in the expansion of hard cider. The worldwide cider packaging market has grown as a result of population factors including rising urbanization and acceptance of Western culture. Cider packaging is expanding favourably as a result of rising alcoholic beverage demand. Further, due to its affordability and lightweight, plastic packaging options have become very popular for cider packaging. The global market for cider packaging is also anticipated to grow as a result of the rising use of retort and aseptic pouches.
The prominent growth in the Glass sector under the Material segment
The biggest market share for cider packaging worldwide is held by glass. The flavour and quality of the beverage product can be preserved using glass. Glass is extensively utilised and dominates the material market since it is a non-reactive material that does not alter the flavour of the cider, in contrast to other materials like metal and plastic. To prevent UV radiation from tainting the contents of glass bottles, market vendors use amber glass material. During the projection period, it is anticipated that the growing demand for cider packaging in developed markets like North America will accelerate the expansion of the category.
Europe dominated the cider packaging market by capturing the majority of the market and is projected to continue with this dominance over the forecast period. The European market places a strong emphasis on creative packaging to increase customer attractiveness. The introduction of craft and low-calorie cider in Europe is anticipated to increase demand for new cider packaging goods and boost volume sales there. The acceptability of alcohol in lesser doses in beverages is also growing, which will increase the use of cider packaging throughout the projection period. It is anticipated that the growth of the European market will be fueled by the rise in cider consumption in the United Kingdom.