Global Hard Seltzer Market to Value over USD 16942 Million By 2028

Global hard seltzer market was valued at USD 5241.65 million in 2021, and it is expected to attain a value of USD 16942.3 Million by 2028 at a CAGR of 16.20% over the forecast period (2022-2028).

In the last few years, the global hard seltzer market has witnessed a significant boost in the demand for hard seltzer. As per analysts working for SkyQuest Technology Consulting, the demand for the product is driven by numerous factors. First, people are becoming more health conscious and are looking for alternatives to sugary drinks. Second, hard seltzer is a light and refreshing option that can be enjoyed on any occasion. Third, hard seltzer is easy to transport and store, making it a convenient option for busy people. fourth, hard seltzer has a relatively low alcohol content, making it a safe option for people who want to enjoy a drink without getting drunk.

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Growing Emphasis on Reducing Alcohol Intake to Support Hard Seltzer Market Growth
As per latest study published by Center for Disease Control and Prevention, around 52% of the Americans are looking to cut down the consumption of alcohol due to various factors. For one, excessive alcohol consumption can lead to health problems like liver disease and cancer. It can also impair judgment and increase the risk of accidents. Additionally, alcohol consumption is often a trigger for other health issues like obesity and diabetes. So, by reducing alcohol consumption, people are not only improving their own health, but also helping to reduce the burden on the healthcare system. Wherein, hard seltzer is seen as a healthier alternative to alcoholic drinks because it generally contains fewer calories and less sugar. As result, the hard seltzer market has started witnessing favorable impact on the overall demand coming from the North America and Europe.

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North America to Continue Holding its Dominance Over Global Hard Seltzer Market
In 2019, North America accounted for over 70% of the global hard seltzer market. Wherein, the US continued to become the largest contributor to the regional market growth. In the same year, sales of hard seltzer in the US increased by 85%. White Claw and Truly are the two most popular brands of hard seltzer. Hard seltzer is witnessing sky rocketing growth amid increasing health-conscious population and rising prevalence of gluten allergy since the drink low calories, gluten-free, and made with natural flavors labels.

Competitive Landscape: White Claw to Stand Out in the Highly Competitive Hard Seltzer Market

The hard seltzer market is becoming increasingly competitive. With new brands entering the market, existing brands are being forced to up their game. This is good news for consumers, as it means that there are more choices and better-quality products to choose from. As a result, hard seltzers are now available in a wide range of flavors, and there are even some that are gluten-free. With so many options on the market, it's becoming harder for brands to stand out from the crowd.

White Claw, Truly, and Smirnoff. Each brand has a different flavor profile and offers something unique to customers. White Claw is the most popular brand in the global hard seltzer market and offers a variety of fruit-flavored seltzers. Truly has a wide range of flavors, including some unique options like cucumber lime and watermelon. Smirnoff offers a variety of seltzers with different alcohol content levels.

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Key Market Dynamics
Drivers:
Increasing focus on reducing alcohol consumption to drive hard Seltzer market
Rising health-conscious population that are looking healthier drink options
Strong Marketing through social media
Increasing prevalence of alcohol associated diseases
Restraints:
Highly fragmented hard seltzer market with strong presence of numerous brands
Hard Seltzer is often associated with cheap prices, which makes people less likely to buy

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This release was published on openPR.