Aprofound relationship exists between apple cider vinegar, and health and wellness. And,apple cider a day keeps the doctor away might have caught up on the millennialimagination in a major way. And, a lot of the credit goes to celebritiesendorsing the product left, right and center. Some of the A-listers who havejoined the apple cider vinegar bandwagon include Katy Perry, Jennifer Anistonand Victoria Beckham. People take them seriously and this influences marketgrowth in a substantial way.
Asper a detailed market analysis by Transparency Market Research (TMR), theglobal apple cider vinegar market will grow at a CAGR (Compound Annual GrowthRate) of approximately 6% between 2018 and 2027. It will chart a 5%year-on-year growth in 2019. Some of the factors propelling growth into theapple cider vinegar market are rising awareness and varied use in differentend-use industries like beauty, pharmaceuticals and wellness.
As the trend for natural rages onto the globallandscape, capturing peoples’ lives like never before, the demand for applecider vinegar will grow which is a go to ingredient foe the population consumedby clean eating. It is rich in minerals, enzymes and vitamins and can be had asa tonic, straight from the bottle. Besides, the multiple benefits it accrueslike weight loss, regulation of blood sugar level, improvement in immunity andgut well-being, aids in the market charting a higher curve.
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Anothertrend that is leading the market take on a high growth trajectory is the riseof veganism. As people realize the benefits of an animal free diet, move tonatural products, packed with nutrition is on a rise. A robust distributionsystem is further helping players grab a bigger share of the pie.
KeyStrategy for Players to be Product Diversification over the Forecast Period
Consumersare not just massively moved by a health and fitness concern on their dailylives but they are also open to experimentations. And, thus it comes a nosurprise that players are dabbling with additional ingredients like walnuts,green tea, ginger, etc. These premium beverages enthrall consumers that wantmore from less in terms of food items and beverage options.
And, theyare eager to pay extra for functional premium choices.
Otherstrategies that players in the global apple cider vinegar market are deployinginclude strategic collaborations and partnerships, and mergers andacquisitions. And, from PepsiCo. Inc. to Kraft Heinz Company, major players arenot shying away from these to ensure future growth.
Players arealso trying to cut manufacturing costs and improve product quality byobliterating need to outsource raw materials. Thus, many are seen investing ingrowing their own apple orchards.
Thereport is segmented as presented below:
· Store-based Retailing
· Zero Calorie