Hard Seltzer Market Worth $10,921.9 Million by 2027 | Major Companies, Strategies and New Trends

Published : 3 years ago, on 07/10/2021

Hard Seltzer Market by ABV Content(ABV Less Than 5% and ABV More Than 5%), Packaging (Metal Cans, Glass Bottles, and Plastic Bottles), and Distribution Channel (Off-trade and On-trade): Global Opportunity Analysis and Industry Forecast 2021–2027″. As per the report, the global hard seltzer industry was pegged at $3.83 billion in 2019, and is expected to garner $10.92 billion by 2027, growing at a CAGR of 12.7% from 2021 to 2027.

Hard seltzer, spiked seltzer, or hard sparkling water is a type of highball drink containing carbonated water, alcohol, and fruit flavoring. The fruit-flavored sparkling hard seltzer can or bottle is with just 100 calories, one gram of sugar, and 5% alcohol by volume (ABV). This has made it massively appealing among health-conscious consumers.

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Rise in disposable income and increase in expenditure on alcoholic beverages drive the growth of the product market. Furthermore, rise in consumption rate of alcoholic drinks and increase in trend of hard seltzer among the young population are some of the other factors that fuel the demand for hard seltzer in the market.

COVID-19 scenario:

• Majority of the producers have suspended their product launches and assembling activities in developing countries from regions such as Asia-Pacific and LAMEA.
• Even after six months of the pandemic, many countries are practicing complete lockdown to curb the spread of coronavirus, which has created a challenge for hard seltzer manufacturers to expand their businesses in untapped regions.

By packaging, the metal cans segment held the largest share in 2019, accounting for more than half of the global hard seltzer market, as it is lightweight, impermeable, and has high flexibility properties which make it ideal for the packaging of hard seltzer beverages. However, the glass bottles segment is expected to manifest the highest CAGR of 13.6% during the forecast period, due to benefits associated such as maintain flavor brilliance and freshness, display appeal, and sustainable.

On the basis of ABV content, the ABV less than 5% segment was valued at $2,092.7 million in 2019, and is projected to reach $ 5,622.2 million by 2027, registering a CAGR of 11.9 % from 2021 to 2027. This is majorly attributed to growing health concerns and increasing fad of flavored alcoholic beverages and ciders. Furthermore, casual or irregular alcohol drinkers are majorly attracted toward the hard seltzers, owing to low ABV content and increased consumption in family parties.

By distribution channel, the on-trade segment is expected to register the highest CAGR of 13.6% during the study period, owing to increasing number of consumers drinking hard seltzers in bars and restaurants as it has a high standard of services, privacy, and community involvement. However, the off-trade segment held the largest share in 2019, contributing to more than two-thirds of the global hard seltzer market, due to the growing retail industry, urbanization, and expansions of the cities.

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By region, the global hard seltzer market across North America held the largest share in 2019, accounting for more than four-fifths of the market, due to growing preferences of flavored malt and alcoholic beverages and high preferences for low alcohol content, calories, and gluten-free beverages. However, the market across Asia-Pacific is expected to portray the highest CAGR of 16.9% during the forecast period, owing to growing popularity of the flavored beverages, growing disposable income, and rising millennial population.

The players operating in the product market have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Truly, White claw, Barefoot Cellars, Future Proof Brands LLC, Bon & Viv, Ficks & Co, Nude, Kona Brewing Co., Lift Bridge Brewing Co., and Bud Light Seltzer.

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