USD 8.95 billion
Global Hard Seltzer Market Size, Share, Growth Analysis, By Distribution Channel(On-trade, Off-trade), By Packaging(Bottles, Cans), By Raw Material(Fruity flavours, Alcohol), By Alcohol Volume-ABV(ABV more than 5.0%, ABV less than 5.0%) - Industry Forecast 2024-2031
Report ID:
SQMIG30F2014 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
116 |
Figures:
77
Global Hard Seltzer Market Insights
Hard Seltzer Market size was valued at USD 8.95 billion in 2019 and is poised to grow from USD 11 billion in 2023 to USD 70.36 billion by 2031, growing at a CAGR of 22.9% in the forecast period (2024-2031).
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.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Off-trade
Fastest Growth
On-trade
Growth Rate
22.9% CAGR
Global Hard Seltzer Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Hard Seltzer Market Size By Distribution channel, 2021-2028 ($ Bn)
Global Hard Seltzer Market Size By Distribution channel, 2021-2028 (%)
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Global Hard Seltzer Market Segmental Analysis
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.
Global Hard Seltzer Market By Distribution channel, 2021(%), 2023 (%)
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Global Hard Seltzer Market Regional Insights
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.
Global Hard Seltzer Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Global Hard Seltzer Market Dynamics
Hard Seltzer Market Driver
- Global hard seltzer market is expected to grow at a steady CAGR mainly due to increased demand for low calorie, carbohydrate, and alcohol content alternatives. The demand is majorly from developed countries such as the U.S., Australia, and Japan. The market will further expand owing to increasing popularity of gluten-free beverages for health conscious consumers. Consumers suffering from autoimmune and inflammatory diseases will propel market growth in coming years.
Hard Seltzer Market Restraints
- The carbonation in hard seltzer can cause bloating and gas. Moreover, many people find the taste of hard seltzer to be too sweet. The alcohol content in hard seltzer is often too low for people to get buzzed, which is one of the key factors hampering growth of the hard seltzer market. Apart from this, hard seltzers are often more expensive than other types of alcoholic beverages. It has also been found that hard seltzers generally have fewer calories than beer or wine, which can be a turnoff for some people.
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Global Hard Seltzer Market Competitive Landscape
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
- White Claw (a brand of Mark Anthony Brands International)
- Truly Hard Seltzer (a brand of Boston Beer Company)
- Bon & Viv Spiked Seltzer (a brand of Anheuser-Busch InBev)
- Corona Hard Seltzer (a brand of Constellation Brands)
- Bud Light Seltzer (a brand of Anheuser-Busch InBev)
- Vizzy Hard Seltzer (a brand of Molson Coors Beverage Company)
- High Noon Spirits Company (a subsidiary of E.&J. Gallo Winery)
- Arctic Chill Hard Seltzer (a brand of Arctic Chill Beverages LLC)
- Press Hard Seltzer (a brand of Nine Pin Cider Works)
- Crook & Marker (a brand of World of Chelada)
- Ficks Beverage Co.
- Henry's Hard Sparkling (a brand of MillerCoors)
- Nude Hard Seltzer (a brand of PepsiCo)
- Pura Still (a brand of FIFCO USA)
- San Juan Seltzer
- SeekOut Real Hard Seltzer (a brand of 2 Towns Ciderhouse)
- Smirnoff Spiked Sparkling Seltzer (a brand of Diageo)
- Sparkling Ice Spiked (a brand of Talking Rain Beverage Company)
- Wild Basin Boozy Sparkling Water (a brand of Oskar Blues Brewery)
- Willie's Superbrew (a brand of Superbrew LLC)
Hard Seltzer Market Recent Developments
- In March 2022, Truly, one of the leading players in the global hard seltzer market, announced the release of its first-ever flavored vodka in collaboration with seasoned alcohol producer Beam Suntory. The bottles will be landing on liquor shelves nationwide in three flavors—Strawberry Lemonade, Wild Berry, and Pineapple Mango.
- In January 2022, Coca-Cola announced partnership with Constellation Brands, the brewer of Corona and other beers in the U.S., to launch ready-to-drink cocktails through its Fresca brand.
- In April 2021, White Claw, from Mark Anthony Brands, launched its first global marketing campaign in collaboration with a diverse group of creators from across the United States and around the world to capture unscripted, momentary content inspired by the feeling White Claw evokes.
Global Hard Seltzer Key Market Trends
- The increasing popularity of flavored alcoholic beverages among millennials is the key trend in the hard seltzer market which is expected to boost the market growth to some extent over the forecast period. The Hard Seltzer Market is witnessing high demand for hard seltzers thanks to their easy availability in hypermarkets, supermarkets, convenience stores, and wine shops and they are also affordable. Online channels are rapidly expanding and started offering alcoholic drinks including hard seltzers across various countires around the globe to increase their revenue. For instance, In May 2020, Taffer’s Mixologist partnered with an e-commerce platform, Thirstie. The platform provides D2C sales for alcohol brands, in order to allow the customers to buy hard seltzer through online platforms.
- With its thriving social media presence and pop culture buzz, the hard seltzer market has started experiencing tremendous growth. In line with this, most of the leading brands are seen grabing the lucrative opportunity by designing Instagram-worthy hard seltzer packaging and partnering with influencers and consumers. According to recent findings of Bank of America, there were six times as many conversations about hard seltzer on Instagram in January 2020 as there were in January 2019.
Global Hard Seltzer Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.95 billion |
| Market size value in 2031 | USD 70.36 billion |
| Growth Rate | 22.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Hard Seltzer Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Hard Seltzer Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
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.
Analyst Support
Customization Options
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.
Regional Analysis: Further analysis of the Global Hard Seltzer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Hard Seltzer Market Report Snapshots
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