Cider Brewing Equipment Market Is Projected To Have An Average-Paced CAGR Of 3.8% During 2023-2033 | FMI
The global cider brewing equipment market is projected to have an average-paced CAGR of 3.8% during the forecast period. In 2023, the market will be worth US$ 1,648.4 million. By the year 2033, it is predicted that the market for cider brewing equipment will reach a high of US$ 2,393.5 million. The experts at Future Market Insights have calculated a historical market valuation of US$ 1,588.05 million for the relevant market during the base year.
Due to the rising demand for cider consumption, which is assisting in the market expansion of all-in-one brewing systems, the market for cider brewing equipment has been experiencing an unheard-of boom in recent years. Urban and millennial populations are learning about the benefits of ciders, which include a high concentration of antioxidants, vitamins, and other nutrients, which is increasing demand for cider.
Furthermore, consumers are increasingly inclined towards heritage, innovation, and quality of alcoholic drinks, which is responsible for a decent growth of the market in the upcoming years. However, the expert analysts at FMI have analyzed that the high maintenance cost associated with the cider brewing equipment is likely to hinder the pace of advancement in the global forum, coupled with increased energy consumption by these machines.
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Key Takeaways from the Cider Brewing Equipment Market
- Europe is projected to lead the cider brewing equipment market over the forecast period, with a total of 48.2% market share held by the region.
- Germany is estimated to hold the leading market share with 25.2% in 2023 in the European region.
- The macro brewery equipment segment accounted for a market share of 53.4% during the base year, as per the analysis of FMI.
- The automatic cider brewing equipment by operation type category is expected to hold domineering shares in the cider brewing equipment market.
“Rising income of the population across the developing countries are expected to anchor the consumption of flavorful ciders, creating lucrative growth opportunities for the cider equipment manufacturers in the global market.” – Says an FMI Analyst.
Competitive Landscape in the Cider brewing Equipment Market
The global market is fragmented owing to the presence of a wide array of manufacturers operating in the international and domestic markets. The market is characterized by the presence of a significant consumer base across the globe with the companies operating their businesses through dedicated distribution networks.
Rigid competition from the regional market players as well as the leading players that cater to cost-effective equipment is anticipated to be a primary challenge for the companies operating in the international market. Furthermore, surging R&D initiatives by market leaders to develop and offer superior equipment are projected to be a limitation for the new entrants.
Anheuser-Busch InBev SA/NV, Criveller, Vigo Ltd., Della tafola, Vitkit Ltd., Paul muller, GEA Group, Tonsen brewing, and Santa Rosa Stainless Steel are some of the key players proliferating in the market.
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- In March 2016, Aston Manor Cider made investments of USD 4 million in its production facilities. The company aims to expand its capacity and capability and improve the loading as well as shipping facilities at its Devon production site.
- In 2017, HP Bulmer Limited launched two products of Kier’s Cloudy Apple and Sarah’s Red Apple.
Anheuser-Busch InBev and Molson Coors Brewing Company acquired various craft breweries to expand their market share, thereby maintaining a strong foothold in the global market.
Key Segments in the Cider Brewing Equipment Market
By Product Type:
- Fermentation Unit
- BrewHouse Unit
- Filtration System
- Maturation Unit
- Others (Milling unit, Malting, Tank pump, etc.)
- Nano /Micro Brewery
- Macro/ Industrial Brewery
By End-use Industry:
- North America
- Latin America
- Asia Pacific