Rising demand for low alcohol content products with increasing health issues drives the global hard seltzers market during the projected period.
According to TechSci Research report, “Hard Seltzer Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”The hard seltzer market has witnessed significant growth in the last few decades owing to a growing shift towards the preference for lesser intake of alcohol. Hard seltzer, a mixture of carbonated water, alcohol, and fruit flavoring, hard seltzer is most frequently sold in cans for mobility. The flavor options vary by brand and include more sophisticated flavor combinations, including melon basil, lemon agave hibiscus, cucumber peach. More traditional flavors include black cherry, lime, and ruby grapefruit.
A hard seltzer falls in between alcopops and sugar-free sparkling water. From the perspective of Gen Z customers, the variety of alcoholic beverages is reasonably necessary with the growing offers in the flavors. Furthermore, it is strategically significant to add alcoholic beverages to Coca Cola product’s lineup since they can grow and have the power to boost sales and profitability.
Drizly is the largest e-commerce alcohol marketplace in North America, which lists over 900 pre-mixed cocktail brands. Drizly has monitored the following increase in Ready-to-Drink offers from June 2019 to June 2022. For instance, Hard Seltzer Brands witnessed a 540% increase, Hard kombucha brands saw a 230% increase, Hard Tea brands saw a 160% increase, and Pre-mixed cocktail brands by 157% increase.
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The hard seltzer market is segmented on the product ABV Content, packaging, distribution channel, and region. The distribution channel segment is divided into on-trade, supermarkets/hypermarkets, specialty stores, online and others (convenience stores, etc.). The segment’s growth is anticipated to be boosted by several factors, including an increase in the variety of products, dedicated preference for a keto-friendly diet, rise in environmental concern and the penetration of e-commerce platforms.
Among product ABV Content, the market is segregated into Equals to 5%, Less than 5%, and More than 5%. Among these, the most developed market for hard seltzer by ABV content is more than 5%, commanding a significant market share. According to hard seltzer market data, the ABV Content of more than 5%, which accounted for around one-third of the global hard seltzer market share in 2021, is predicted to maintain its position during the forecast period. This is mainly due to the rise in customers switching from alcoholic beverages, including beer, wine, and spirits, to hard seltzer with more than 5% ABV. Most manufacturers create a standard proportion of hard seltzer ingredients, which is 5% ABV.
Due to its commercial advantages like durability, use of multi-color printing, convenience, and sustainability, moreover the growing preference for the cans segment as packaging is high among its manufacturers is influencing the cans segment growth. Therefore, the cans segment has been steadily increasing its share in the global hard seltzer market in terms of packaging. It is anticipated that this trend will continue throughout the forecast period. Additionally, these containers don’t require any additions, while retaining their natural flavor and not losing their nutritional qualities for a long time.
Key market players in the hard seltzer market include:
- Anheuser-Busch Companies LLC
- Boston Beer Company
- Molson Coors Beverage Company
- Diageo North America Inc.
- Mark Anthony Brands International
- E. & J. Gallo Winery (High Noon Spirits Company)
- Heineken USA Incorporated
- Oskar Blues Brewery Holding Co LLC
- Constellation Brands, Inc.
- San Juan Seltzer Inc.
Considering demographics, US millennials are the product’s most prominent users. Less than 10% of drinkers perceive hard seltzers as a beer subcategory. In comparison, 60% and 70% of millennial drinkers of the legal drinking age (over 21) view them as a distinct category. It’s interesting to note that 75% of people who use hard seltzer also consume beer, which is perhaps why beer manufacturers developed their hard seltzer products, such as Bud Light Seltzer and Corona Seltzer.
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” The category has grown highly competitive due to several local, national, and international brands on store shelves. However, the category didn’t provide much variation or innovation regarding flavor profiles and ingredients, until recently. The companies are more focused on new addition within the market, which is expected to influence the popularity of this market in the forecasted period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Hard Seltzer Market, By ABV Content (Equals to 5%, Less than 5%, and More than 5%), By Packaging (Bottle, Cans), By Distribution Channel (On-trade, Supermarkets/Hypermarkets, Specialty Stores, Online and Others (Convenience Stores, etc.)), By Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa), Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of hard seltzers and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in hard seltzers globally.
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