More than 5% ABV Content Product to Dominate Hard Seltzer Market During the Forecast Period
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.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on the "Global Hard Seltzer Market."
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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