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Hard Tea Market 2022 By Manufacturers, Regions, Type And Application, Forecast To 2030

09-22-2022 09:29 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: We Market Research

Hard Tea Market

Hard Tea Market

Hard tea is referred to as a category of iced tea which contains alcohol. It comes in a wide array of flavors such as lemon and mint, among others. It is brewed just like normal ice day and if offers similar refreshing vibes along with a slight alcoholic kick. Hard tea generally contains nearly 5% of alcohol and are made of malted barley. It is also known as twisted tea in many parts of the world.

The global hard tea market was worth USD 1.99 billion in 2021 and is poised to amplify at a CAGR of 24.7% over 2022-2030, thereby amassing a valuation of USD 14.5 billion by end of the assessment period.

What are the growth determinants and restraints of this industry?

The escalating demand for beverages with low alcohol content along with the growing disposable income of the masses are primarily augmenting the outlook of this marketplace.

Furthermore, rising health cognizance of the masses and the shifting cognizance of millennials towards innovative consumables are creating lucrative opportunities for the industry sphere to prosper.

Also, hard tea offers various health benefits such as it decreases the risk of heart diseases, stroke, and diabetes. This in turn is positively swaying the dynamics of this marketplace.

Additionally, increasing R&D investments in the field, growing focus of players to launch new flavors in the field, and the surging millennial population base are aiding the expansion of global hard tea market.

Moreover, the elevating demand for ready-to-drink beverages is stimulating the overall dynamics of this market.

On the contrary, the availability of alternative beverages along with the high cost of high tea is hindering the remuneration scope of this industry.

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Segmental assessment of the market:

By ABV (%)
• Hard Tea containing 2.0-5.0% ABV
• Hard Tea containing More than 5.1% ABV

The hard tea containing 2.0-5.0% ABV segment is poised to amass notable gains over 2022-2030 owing to the rising health cognizance of the masses coupled with their growing awareness regarding the negative impacts of excessive alcohol consumption.

By Flavor
• Lemon Hard Tea
• Raspberry Hard Tea
• Peach Hard Tea
• Orange Hard Tea
• Other Flavor Hard Tea

The lemon hard tea segment is slated to generate significant returns over the stipulated timeline due to its refreshing nature.

By Distribution Channel
• Supermarkets/Hypermarkets
• Online Distribution Channels
• Other Distribution Channels

The online distribution segment is expected to grow considerably over the forecast period due to rising internet penetration across the globe.

Which is the fastest growing region in the market?

North America, Middle East & Africa, Europe, Asia Pacific, and South America are the primary regions influencing the growth matrix of the global hard tea market. Among these, North America is projected to capture a substantial revenue share over 2022-2030. This is attributable to the growing consumer inclination towards beverages with lower alcohol content along with the presence of potential players.

Expounding the competitive terrain of the industry

The prominent companies defining the competitive landscape of this business vertical are The Boston Beer Company, Pabst, Two Chicks Drinks, LLC, Cisco Brewers, Blue Point Brewing (Anheuser-Busch InBev), LoverBoy Inc., Double Brew, LLC, Crook & Marker LLC, Molson Coors Beverage Company, and Bold Rock Hard Cider.

Notably, in November 2020, White Claw announced the launch of its hard ice tea range. The tea comes in a mixed 12 pack with four flavors including peach, raspberry, mango, and lemon.

Key questions answered in the report

• What is the growth rate projection for global hard tea market over 2022-2030?
• What are the expansion propellants for global hard tea market?
• What are the major segments covered in the global hard tea market report?
• Which is the fastest growing region in the global hard tea market?

Key takeaways from the report:

The global hard tea market was worth USD 1.99 billion in 2021 and is poised to amplify at a CAGR of 24.7% over 2022-2030, thereby amassing a valuation of USD 14.5 billion by end of the assessment period.

The escalating demand for beverages with low alcohol content along with the growing disposable income of the masses are primarily augmenting the outlook of this marketplace.

The major segments covered in the report are ABV (%), flavor type, and distribution channel.

North America is projected to capture a high revenue share over 2022-2030.

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Contact Us:
We Market Research
Phone: +1(929)-450-2887
Email: sales@wemarketresearch.com

About We Market Research

WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.

Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

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