As per our research analysis, The Hard Seltzer Market size was worth 23.8 billion dollars in 2021 and is estimated to reach US$ 10.9 billion by 2027, with a CAGR of 12.7% from 2022 to 2027.
Market Overview:
The primary factor driving demand for soft drinks in the worldwide hard seltzer market is the rising rate of alcohol use and the increased trend of soft drinks among young people. Rapid urbanization, lifestyle changes, high disposable incomes, rising rates of alcohol consumption, and a growing trend among young people to sell energetically are all elements boosting demand for energetic hard seltzer vendors. The global market for hard mineral water has grown customer desire for scented alcoholic beverages as alcoholic beverages become more popular among millennials and younger generations. The creation of new components combining new novel flavors of cake, sugar, flavorings, and fruit, as well as the introduction of new fermentation technologies by various companies, is an essential factor in the rise of the worldwide hard seltzer water industry’s growth. The appeal of carbonated light aromatic drinks has grown among younger groups and millennials. Economic expansion, the tourism and travel industries, increased online sales of alcoholic beverages, and coffee shops and bars have all contributed to the global hard seltzer market’s highest share.
Rapid urbanization, Western culture, changes in consumer attitudes of alcohol intake, and changes in consumer preferences in developing countries are all expected to have an impact on the global hard seltzer industry, propelling it forward. The increased demand for gluten-free and low-alcohol beverages in industrialized countries such as the United States, Australia, and Korea has opened up new doors for the Hard seltzer industry. Manufacturers have run marketing efforts in order to spread their products further. The lower calorie and carbohydrate content of hard seltzer compared to beer and other mixed beverages is the key reason for its rising popularity.
Furthermore, a growing number of manufacturers have entered the Hard Seltzer industry, resulting in a diverse selection of goods. The global Hard seltzer market is predicted to be driven by the trend of alcohol use among young and millennials, which is driven by changing consumer choices, increased disposable income, and the influence of consumer peers. Low-alcohol beverage sales and demand have risen dramatically. The reason for this is that light carbonated beverages with improved taste and a variety of options for health-conscious consumers are driving the global Hard seltzer market. Market participants are expected to benefit from developing countries’ potential in the future. The introduction of novel fermentation technologies by various firms, as well as the development of new inventive and fruity tastes and the debut of new components, are likely to drive the global Hard seltzer market size upward.
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Segmentation Analysis:
The global Hard Seltzer Market segmentation include:
By Packaging: Glass Bottles, Metal Cans, and Plastic Bottles
Due to its light weight, waterproofing, and high flexibility qualities, metal cans accounted for more than half of the worldwide hard seltzer market, accounting for more than half of the global hard seltzer market. Carbonates that are light in color. However, due to features such as keeping brightness and freshness of flavor, beauty of presentation, and sustainability, the glass bottle category is predicted to grow at the fastest rate of 13.6 percent throughout the forecast period.
By ABV Content: Less Than 5% and More Than 5%
The ABV content segment accounted for more than 5% of the worldwide Hard seltzer market, and it is expected to maintain its dominance during the projected period. This is mostly due to increased consumer movement of alcoholic beverages such as spirits, beer, and wine to hard storage with an ABV of 5% or above. Furthermore, hard seltzer with a 5 percent ABV is commonly regarded as the manufacturer’s typical percentage of components.
By Distribution Channel: Off-trade and On-trade
The global market has been separated into two categories based on distribution channels: off-trade and on-trade. In 2021, the main distribution channel segment, off-trade, with a revenue share of roughly 70.0 percent. Hypermarkets, supermarkets, convenience stores, micro markets, and wine and spirit shops all fall into this category. People choose these establishments because they provide substantial discounts and exclusive incentives. Furthermore, in order to reach the largest number of people, the majority of brands launch their products through major grocery chains such as Walmart, Target, and others.
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Regional Analysis:
Based on region, North America dominated the worldwide Hard Seltzer market, and this trend is expected to continue during the forecast period. The increased customer desire for calories, low alcohol content, and gluten-free beverages is a key driver propelling the growth of the hard seltzer market in the region.
Due to growing consumer demand and increased urbanization in the region, Asia-Pacific is expected to become a developing market for the worldwide Hard seltzer market, with the highest CAGR. From 2020 to 2025, Asia-Pacific is expected to be the fastest-growing market for strong sellers, with a CAGR of 17.0 percent. With increased demand from industrialized countries such as South Korea and Australia, the business will have a bright future. As a result, businesses are developing new products in order to entice customers.
During the forecast period, the worldwide Hard seltzer market is expected to grow significantly in the European area. Strong sellers have helped Latin America maintain its market share growth. The market for hard seltzer grew more rapidly in the Middle East and Africa.
Latest Industry Developments:
- Fellr, a local Australian business, debuted two flavors of alcohol seltzer in May 2020: Lime & Soda and Dry & Lime.
- Mike’s Hard Sparkling Water was released in the UK by AB InBev in November 2019, in response to the increased desire for healthy low-calorie and sugar products that are nonetheless luxury and have clean labelling.
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