The global cider packaging market is likely to reach US$ 5.1 billion by 2033, up from US$ 3.04 billion in 2023, advancing at a CAGR of 5.3% during the forecast period.
There is a great demand for innovation in the packaging of cider in the market, and the highly coveted millennial generation has primarily driven the growth of hard cider. Moreover, the rising demand for safe packaging is fuelled by global market growth. Additionally, throughout the forecast period, population influences such as the Western lifestyle and expanding urbanization fuel the expansion of the global market.
There is a sizable market opportunity for cider packaging worldwide, and different prospects are available in other nations. Strategic and financial investors are vying for the industry's significant potential.
Many consumers view sustainability as a critical factor in the long-term plan. Furthermore, consumers are becoming more conscious of their physical health and fitness, which is influencing the global demand for beverages with reduced alcohol content, spiking the demand for cider, in turn, the market for cider packaging.
The availability of numerous brands of cider in the market, along with rising cider consumption, is anticipated to impact the trends of the global market positively. The global growth is expected to be boosted by the increase in the commercialization of cider around the world.
Global chemical firms are anticipated to witness numerous global market opportunities due to the development in demand for cider packaging across various end-user sectors. Due to historically low prices and the development of new applications, end-user demand has been growing steadily over the past ten years, causing the global cider packaging business to shift quickly.
Key Market Dynamics
Reducing unit cider packaging size is creating more consumption opportunities, and the presence of premium brands such as Woodchuck, Kopparberg, and angry orchard has increased the demand for premium quality cider packaging.
Premium cider packaging brand is in high demand compared to the economically priced product due to the rising consumption of alcohol as a status symbol, disposable income, and the association of premium labels with the beverage quality and taste.
The global market is expanding with technological innovations resulting in increased demand for water-based coating technology as it is environmentally friendly, tasteless, odourless, and decreases the usage of sprig powder. Strict laws and policies governing alcoholic beverages, however, are anticipated to restrain the growth of the worldwide market over the forecast period.
Europe Cider Packaging Market Anticipated to Dominate the Global Market
Europe is likely to be at the forefront of the market, with a share of 34% in 2023. Europe's market focuses on innovative packaging to make products more appealing to consumers.
The launch of low-calorie and craft cider in Europe is expected to create demand for new cider packaging products, which can add volume sales in this region. Additionally, the acceptance of alcohol in beverages in smaller amounts is increasing, which is boosting the adoption of cider packaging over the forecast period. The increased consumption of cider in the United Kingdom is predicted to drive the expansion of the European market.
Growth Prospects for North America Market
The North American market is projected to register strong growth shortly, with a share of 27.0% in 2023, because of an increasing number of people buying cider in the region. Another factor driving the region’s global market share is the rising consumer preference for bottled alcoholic beverages.
Competition Landscape in the Global Market
The global market is highly competitive, leading competitors to develop innovative products and new strategies in the packaging world. The vendors in cider packaging are coming with bottles prepared with a high barrier coating technology to upturn its shelf life and minimize the risk of saturation.
Recent development:
To grow its operations in the Americas, USA-based packaging business Berlin Packaging has acquired Canadian glass bottle and closure distributor United Bottles & Packaging.
Including packaging for spirits, wine, beer, and cider, United Bottles & Packaging provides bottles and closures for food and alcoholic and non-alcoholic beverages.
These insights are based on a report Cider Packaging Market by Future Market Insights.
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