Published: May, 2019
A recent study by Transparency Market Research (TMR) found that the apple cider vinegar market recorded positive growth, reaching US$ 836 million by 2018. The study estimates that the market will witness approximately 5% y-o-y in 2019, and attributes the potential rise in demand to the inextricable relationship between apple cider vinegar and the health & wellness trend.
Consumers, with a critical approach towards their dietary intake, are preferring to purchase food products with health-benefiting properties and natural ingredients irrespective of their cost. TMR opines that natural health proponents will continue to remain the target consumer for stakeholders in the apple cider vinegar market. In addition, naturally occurring food products, such as apple cider vinegar, are not regulated by governing bodies, such as the United States Food and Drug Administration (FDA), which is likely to augur well for growth of the apple cider vinegar market in the coming years.
Consumer in Developed Market Show a Marked Preference for Organic Apple Cider Vinegar
Consumer preference for clean label and organic ingredients has had a remarkable influence on the emerging trends in apple cider vinegar landscape. The TMR study opines that, though the demand for conventional apple cider vinegar is currently high, its organic variant will increase in popularity in the coming years, especially in developed regions, such as North America and Europe.
The study finds that the demand for organic apple cider vinegar is taking off in North America with its health halo drawing in health-conscious consumers. As the tenacity of concerns over lifestyle diseases, such as obesity and cardiovascular disorders, is on the rise, the popularity of apple cider vinegar is exploding in the United States (U.S.) for its health benefits and ‘superfood’ status.
TMR opines that, in 2019, North America will accounts for more than one-third revenue share of the apple cider vinegar market. Manufacturers are assiduous in the apple cider vinegar market in North America with the launch of organic and clean label products, despite the presence of stringent labeling regulations and high quality standards for organic products. However, notwithstanding the fact that not all rhetoric make it to becoming regulations or a governmental policy, the levels of ambiguity and skepticism are likely to increase significantly among foreign investors in the future.
The study also finds that European Union (EU), at present, tends to follow health trends with a slight lag as compared to that in North America. Nevertheless, organic apple cider vinegar accounts for around one-third revenue share in Europe, finds TMR. However, the growth of cross-border business activities in the EU is underpinning the rising tide of protectionist movement, and it is likely to stymie investor confidence in Europe’s apple cider vinegar market. TMR opines that apple cider vinegar markets will make a move towards the fledging market for apple cider vinegar in Oceania, Asia Pacific (excluding Japan), and Latin America to capitalize on untapped potential in emerging economies in the upcoming years.
Apple Cider Vinegar Infiltrates the Dietary Supplements Industry
With a mounting number of studies providing scientific evidence to prove the efficacy of apple cider vinegar in natural health remedies, its demand is only surging. Despite the availability of its equally-healthy alternatives, such as rice vinegar and wine vinegar, the apple cider vinegar market is witnessing positive growth with its diverse end-use applications.
TMR finds that, in 2018, the sales of apple cider vinegar in capsules form accounted for more than 86% of the global revenue share. With its emergence in the sports nutrition and fitness segment, the rise in demand for apple cider vinegar capsules is likely to prevail in the coming future. TMR opines that leading manufacturers in the apple cider vinegar market will foray into the dietary supplements industry to reap the benefits out of the health & fitness trend. Growing awareness about the benefits of apple cider vinegar among professional athletes and bodybuilders is likely to shape future trends in the apple cider vinegar market.
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