North America Hard Seltzer Market to be Dominated by United States through 2025
Increasing
consumption rate of alcoholic drinks and growing popularity of hard seltzers
among younger population are fueling the growth of North America hard seltzer
market.
According to TechSci Research
report, “North America Hard Seltzer Market
By Type (Flavored vs Non-Flavored), By ABV Content
(Less than 5%, More than 5%), By Distribution Channel (Online, Convenience
Stores, Supermarket/Hypermarkets, Others), By Country, Forecast &
Opportunities, 2025”, North America hard seltzer market
is projected to grow at double-digit CAGR in the next five years on
account of increasing consumption of alcoholic beverages and growing preference
of consumers towards low alcohol, gluten free beverages containing flavored
drinks with low ABV content. Hard seltzer offer numerous benefits including low
calorie count, and low carbohydrates, which makes it a popular choice among the
youths; thereby, contributing to the growth of the market.
Growing
urbanization and rapid expansion of the retail sector are the two main key
factors to drive the hard seltzer market growth through off-trade channels.
Furthermore, online stores are majorly contributing to increase off-trade sales
of the hard seltzer by giving lucrative bulk discounts and doorstep delivery
facility thereby positively affecting the sales of hard seltzer across the
North America market.
Due to COVID-19
lockdown, adverse effects on the logistics of the hard seltzer across the North
America has been observed, prompting a considerable log jam in the production
which as a result has badly affected its demand. Due to unavailability of
resources, players have already suspended their product launch, which has
negatively impacted the hard seltzer market in the region.
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Based
on ABV content, the market can be categorized into less than 5%, more than 5%.
Hard seltzers containing less than 5% ABV content are high in demand in
the region and are further expected to dominate the market in terms of revenue
during the forecast period. The reasons can be attributed to more brands
offering low ABV content hard seltzer and their increasing demand among
health-conscious consumers.
Based
on country, United States holds a significant market share in North America
hard seltzer market as the country is home to some of the leading alcohol
brands. Moreover, the high population of alcohol consuming people also makes
United States a bigger market for hard seltzer manufacturers.
The major players operating in the North
America hard seltzer market are White Claw Hard Seltzer (Mark Anthony Brands
International), Anheuser-Busch InBev, Constellation Brands (Corona Seltzer),
Boston Beer Company (Truly Hard Seltzer), San Juan Seltzer Inc., MillerCoors
(Henry's Hard Sparkling Water), Diageo (Smirnoff Seltzers), Molson Coors (Vizzy
Hard Seltzer), Boathouse Beverage Co., Future Proof Brands LLC, and Lift Bridge
Brewing Co., among others.
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“Players
operating in the hard seltzer market are launching new products to widen their
presence and increase their share in the market. Launch of cocktail inspired
seltzer by Anheuser-Busch which comes in old fashioned, sidecar & citrus
gimlet variants in 2020 exemplifies this fact. Other strategies employed by the
hard seltzer manufacturers include expansion to new geographies and
acquisitions.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“North America Hard
Seltzer Market By Type (Flavored vs
Non-Flavored), By ABV Content (Less than 5%, More than 5%), By Distribution
Channel (Online, Convenience Stores, Supermarket/Hypermarkets, Others), By
Country, Forecast & Opportunities, 2025” has evaluated the future growth potential of hard
seltzer in North America 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 decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in North America Hard Seltzer Market.
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