The global apple cider vinegar market sizeis projected to reach USD 789.37 million by 2028, exhibiting aCAGR of 4.5% during the forecast period. FortuneBusiness Insights™ shares this information in its report, titled “AppleCider Vinegar Market, 2021-2028”. As per the report, the value of themarket stood at USD 561.57 million in 2020. Variousenterprises operating in the food and beverages space are leveraging the healthbenefits of ACV to attain a new customer base. They are using vinegar as a keyingredient for developing their products. For instance, Be Gud beverages, ahealth and wellness company based in Florida, two new flavor-infused shots ofACV.
Key Segmentation
We have categorized the market on the basis of source, form, distributionchannel, and geography. In terms of source, the market is divided intoconventional and organic. Based on form, it is fragmented into liquid andtablet. On the basis of distribution channels, the market is bifurcated intohypermarkets/supermarkets, online channels, traditional grocery stores, andothers. Lastly, based on the region, it is segmented into North America,Europe, South America, Asia Pacific, and the Middle East & Africa.
Immunity-Boosting Benefits from ACV to Boost its Demandamid COVID-19
The global food and beverages sector has been solid amid the COVID-19 pandemicbacked by the high demand for food items that were added to the list ofessential items. In addition, the increasing demand for functional foods duringthe lockdown period stoked by people’s intention of improving their immunityhas given a significant boost to the growth of the market during the pandemicperiod. Similarly, the apple cider vinegar market has experienced high demandduring the initial phase of the COVID-19 era due to high demand for theproduct, which was stoked by its immunity-boosting properties.
What Does the Report Offer?
The report comprises a detailed analysis of the various drivers andrestraints affecting the demand and supply of the market. In addition to this,it includes insights into the various segments and their current holdings inthe market. Apart from this, the report also provides regional analysis basedon our research on key geographic locations along with details on thestrategies adopted by the key market players.
Driving factor
Increasing Adoption of Superfoods to Drive Growth
Growing health awareness among consumers is driving them to add morefunctional foods or superfoods to their diet. For instance, according to asurvey report published by Datassential in 2019, over 56% of adults have shownan inclination toward superfoods for good health. This rapidly surging trend isdriving the global apple cider vinegar market growth. In addition, variousenterprises are developing innovative food products using the substance as thekey ingredient. For instance, in June 2020, Good Glow, a wellness productscompany, introduced its new AVC wellness shot diluted and made from whollyorganic ingredients. The increasing adoption of such products will furtherboost the demand.
However, prolonged consumption of AVC could lead to health issues such astooth decay and acidity. For instance, Dr. Robert H. Shmerling, an associateprofessor of Harvard medicine, has suggested that excessive consumption of theproduct could lead to hypokalemia. Such factors are predicted to hinder marketgrowth.
Regional Insights
High Production in the U.S. to Help North AmericaDominate the Market
The total value of the market in North America stood at USD 277.9 millionin 2020. The region is projected to hold the leading apple cider vinegar marketshare during the forecast period due to high production in the U.S. Inaddition, new product launches from several manufacturers for the U.S. marketare projected to accelerate the demand for AVC in the region. For instance, inFebruary 2021, Garden of Life, one of the leading producers of organicproducts, collaborated with the actress Alicia Silverstone for the launch ofmykind, a new range of apple cider vinegar gummies.
The market in Asia Pacific is estimated to showcase positive growth duringthe projected timeline. The arrival of new players in the market has given aboost to the market expansion in the region. For instance, Goli Nutrition hasopened a new trend in the Indian market space by offering ACV-based gummies inthe country.
Competitive Landscape
Prominent Players Experimenting with Product Form toEnter New Markets
Prominent enterprises operating in this market are focusing onexperimenting with the form of consumption of their product. They are seekinginnovative ways to find easier ways of consuming their products. For instance,in 2020, Man Matters, a health and wellness company, introduced ACV gummies inthe Indian market. These gummies are aimed to help consumers manage theirweight.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/apple-cider-vinegar-market-105136
