USD 8.95 billion
Report ID: SQMIG30F2014 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 116 | Figures: 77
Hard Seltzer Market size was valued at USD 8.95 billion in 2021 and is poised to grow from USD 11 billion in 2022 to USD 70.36 billion by 2030, growing at a CAGR of 22.9% in the forecast period (2023-2030).
Hard seltzer is a flavoured carbonated alcoholic beverage that contains lower calories and carbohydrates than other alcoholic beverages. Rising demand for low alcohol content, low calories, and gluten-free beverages is one of the key factors driving the growth of the hard seltzer market. Additionally, increased disposable income and rising spending on alcoholic beverages are contributing to overall Hard Seltzer Market growth.
In the last few years, the hard Seltzer has gained enormous popularity due to effective social media marketing that has sold hard seltzers as a “healthier” alcohol choice. The global hard seltzer market has been witnessing a sudden growth in the number of manufacturers entering the Hard Seltzer Market and offering a large variety of products with different taste and flavors. For instance, in May 2020, Kopparberg, a Swedish manufacturer, launched a range of hard seltzer drinks in the U.K.
US Hard Seltzer Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 8.95 billion
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The global hard seltzer market is segmented based on distribution channel, packaging, raw materials used, alcohol volume (ABV), and region. Based on distribution channel, it is bifurcated into on- trade and off-trade. By packaging, it is categorized into bottles and cans. Based on raw materials, the global hard seltzer market is categorized into fruity flavors, alcohol, sparkling water, carbonated water, and others. Based on alcohol volume (ABV), it is further categorized into ABV more than 5.0%, ABV less than 5.0%. Based on region, global hard seltzer market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Hard Seltzer Market Analysis by Alcohol Volume (ABV)
As per a research report published by Skyquest Technology Consulting, the more than 5.0% ABV content segment held over 51.5% Hard Seltzer Market share in 2021 and is projected to continue its dominance throughout the projection period, 2022–2028. It has been found that growing trend of moderation is a burgeoning the demand for the product, particularly in the United States hard seltzer market, which is further adding value to the global hard seltzer market. In line with this trend, several players enaged in the alcohol sector are focusing on expanding their product offerings epseically low-alcohol beverages. As a result, the 1% to 4.9% ABV content segment is expected to grow at the fastest CAGR of 23.9% from 2022 to 2030.
Hard Seltzer Market Analysis by Distribution Channel
The off-trade is the largest distribution channel segment. The segment was repsoble for generating over 70% of global hard seltzer market sales in 2021 thanks to well-established infrasturcutre that majorly includes hypermarkets, supermarkets, convenience stores, micro-markets, and wine and spirit shops. It has been observed that end-users prefer buying their favorite hard seltzer drinks through these option since the stores are known to offer deep discounts and special deals on the product. Furthermore, in order to reach as many customers as possible, the majority of brands in the global hard seltzer market target their consumers by putting products through large supermarket chains like Walmart, Target, and others.
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As per our research and analysis, North America alone accounted for 70% of the global hard seltzer market. Wherein, the US is responsible for contributing over 65% to the regional Hard Seltzer Market growth. The success of hard seltzer market in the region can be attributed to multiple product launches, wide product portfolio, easy availability, and entry of new players. For instance, in May 2020, California-based Sudwerk Brewing Co. launched a product named “Life Is Hard Seltzer”. Apart from this, most of the American are found to driven by the wide variety of flavors that are available in hard seltzer. Wherein, grapefruit flavors, passionfruit, and black cherry are found to be most popular among consumers.
On the other hand, the Asia Pacific hard seltzer market is projected to witness fastest growth at a CAGR of 17.0% during 2022–2027 with repsect to growing popularity and demand for hard seltzer in South Korea and Australia.
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Hard Seltzer Market Driver
Hard Seltzer Market Restraints
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The global hard seltzer market is highly consolidated in nature with the strong presence of large and small companies dominating the market. In order to sustain the in the highly competitive market, most of the players are exloring various vertical and horizontal growth strategies such new product launches, technological innovation, and mergers and acquisitions to diversify the product offering and expand their geographical presence.
Hard Seltzer Market Top Players Company Profiles
Hard Seltzer Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, by alcohol volume (ABV), the more than 5.0% ABV content segment held more than 51.5% share of the global hard seltzer market share and is expected to continue its dominance throughout the projection period. By Distribution Channel, the off-trade segment was found to the the largest distribution channel, accounting for approximately 70% of global hard seltzer market sales in 2021. In 2021, North America dominated the hard seltzer market by contributing over 70% to the global hard seltzer market.
|Market size value in 2021||USD 8.95 billion|
|Market size value in 2030||USD 70.36 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Hard Seltzer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hard Seltzer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hard Seltzer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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