Hard Seltzer Industry Overview
The global hard seltzer market size is expected to reach USD 57.34 billion by 2030, registering a CAGR of 22.9%, according to a new report by Grand View Research, Inc. Shifting consumer preference for low alcohol content beverages, especially among millennials and the working-class population, is expected to be a key factor contributing to the growth of the market. Hard seltzers are gaining popularity due to the rising preference for low-calorie and low-sugar alternative alcoholic drinks over traditional alcoholic beverages among the health-conscious demographics across the world. Hard seltzer flavors, such as citrus and other fruity flavors, are gaining popularity among consumers. The rising adoption of new flavors among consumers is likely to provide opportunities to the players operating in this market.
Hard Seltzer Market Segmentation
Grand View Research has segmented the global hard seltzer market on the basis of ABV content, distribution channel, and region:
Based on the ABV Content Insights, the market is segmented into 1.0% to 4.9%, 5.0% to 6.9%, Others.
- The 5.0% to 6.9% ABV content segment held the largest market share of more than 51.5% in 2021 and is expected to maintain dominance over the forecast period. The idea of moderation is a booming trend, especially in the U.S., which is driving the growth of this segment.
- Many players operating in the alcohol industry have been expanding their product range of low-alcohol beverages. However, the 1.0% to 4.9% ABV content segment is projected to register the fastest CAGR during the forecast period of 23.9% from 2022 to 2030.
- Owing to the rising consumer focus toward health and wellness, people of all ages are trying to cut down on alcohol. Over the last two years, there has been a significant increase in online discussions about low- and no-alcohol drinking and a noteworthy decrease in conversations about casual and heavy drinking occasions.
Based on the Distribution Channel Insights, the market is segmented into Off-trade, On-trade.
- Off-tradewas the largest distribution channel segment and accounted for a revenue share of around70.0% in 2021.
- The segment includes all retail outlets, such as hypermarkets, supermarkets, convenience stores, mini markets, and wine & spirit shops. People prefer these stores as they offer huge discounts and offers. Furthermore, the majority of the brands launch their products through big chains of supermarkets, such as Walmart, Target, and others, to reach maximum customers.
- The on-trade distribution channel segment is anticipated to register the fastest growth rate of more than 23.5% from 2022 to 2030. The on-trade distribution channels include outlets, such as bars, clubs, hotels, and lounges. The global COVID-19 pandemic has led to lockdowns and shutdowns across the world.
- This has led to a reduction in sales from these channels. However, with relaxed norms and people focusing on socializing, get-togethers, and parties, product sales are likely to increase through on-trade channels.
Hard Seltzer Regional Outlook
- North America
- Rest of the World (RoW)
Key Companies Profile & Market Share Insights
The market is still in its nascent stage, where new entrants are launching products and other key players in the alcoholic beverages market are planning to launch their products due to the increasing popularity of these low-alcohol content beverages across the globe. Nowadays, drinks with natural ingredients, low-calorie content, and health claims appeal the most to consumers, thus, manufacturers are focused on launching products with these attributes.
Some prominent players in the global hard seltzer market include
- Mark Anthony Brands International
- Anheuser-Busch InBev
- The Coca-Cola Company
- Diageo plc
- Heineken N.V.
- The Boston Beer Company
- Molson Coors Beverage Company
- Constellation Brands, Inc.
- San Juan Seltzer, Inc.
Order a free sample PDF of the Hard Seltzer Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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