Hard Seltzer Market to Worth USD 4,355.46 Million by 2028, The Insight Partners

According to our latest market study on "Hard Seltzer Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Flavor (Citrus Fruits, Berries, Tropical Fruits, and Others), Packaging Type (Bottles and Cans), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others),'' the market is projected to reach US$ 4,355.46 million by 2028 from US$ 2,500.82 million in 2021; it is expected to grow at a CAGR of 8.2% from 2021 to 2028.

Hard seltzer is a flavored carbonated combined beverage containing alcohol. It is also known as spiked seltzer, alcoholic seltzer, or hard sparkling water. Low calorie content is adding to the popularity of hard seltzers amongst health-conscious consumers. Furthermore, hard seltzers have alcohol content ~5% by volume, which is much lower than other alcoholic beverages, such as wine and spirits. Hard seltzers are available in different flavors, such as citrus fruits, tropical fruits, and berries.

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Consumers are rapidly substituting beers and spirits with hard seltzers as they are low-calorie, low-sugar, and low-ABV (i.e., alcohol by volume) products. Hard seltzers are often made with natural flavors and extracts and contain no sugar. Moreover, hard seltzers have low ABV content, which further drives their popularity as consumers attempt to minimize their alcohol. Furthermore, as customers have become more conscious about ingredients used in products, hard seltzers brands are promoting their products by emphasizing low sugar and calorie content. For instance, White Claw offers a line of hard seltzers of only 70 calories.

The key players operating in the global hard seltzer market include Anheuser-Busch INBEV; Constellation Brands, Inc; Heineken N.V.; Kona Brewing Co.; Kopparberg; Lift Bridge Brewing Co.; Mark Anthony Brands International; Molson Coors Beverage Company; Oskar Blues; and The Boston Beer Company; among others.

Impact of COVID-19 Pandemic on Hard Seltzer Market

The COVID-19 pandemic brought unprecedented challenges for many sectors, including the food and beverages sector. Lockdowns, border restrictions, travel bans, manufacturing unit shutdown, and other safety protocols by governments of different countries disturbed the operations of manufacturing companies. However, the trends for alcoholic beverages consumption changed drastically during the COVID-19 pandemic. in 2020, people in many countries were compelled to stay home due to strict lockdowns. Moreover, the corporate sector also announced work from home mandates. Additionally, the bar visits of people decreased as the bars remained shut. Owing to all these factors, people preferred in-home consumption of alcoholic beverages, and thus, the demand for alcoholic beverages remained steady during lockdown periods. Moreover, due to rising health concerns, people preferred the consumption of low-ABV beverages, which created a significant demand for hard seltzers. The rising pace of vaccination across developed and developing countries is providing growth opportunities for the hard seltzer market players.

The report segments the hard seltzer market as follows:

Product Insights

Based on flavor, the hard seltzer market is bifurcated into citrus fruits, berries, tropical fruits, and others. The tropical fruits segment accounted for the largest market share in 2020 is expected to register the highest CAGR in the market during the forecast period. Tropical fruits, including pineapple, watermelon, kiwi, and passionfruit, have vibrant colors and unique flavors. Moreover, they have high nutritional profiles, which is driving their popularity among consumers. As tropical flavors are becoming more popular, manufacturers are launching a wide range of products with enhanced and innovative flavors to expand their clientele. For instance, in August 2021, Vizzy, a Molson Coors Beverage Co. brand, launched new hard seltzer flavor combinations, such as kiwi and watermelon, and passion fruit and watermelon

Packaging Type Insights

Based on packaging type, the hard seltzer market is bifurcated into bottles and cans. The cans segment accounted for a larger market share in 2020, and the bottles segment is expected to register a higher CAGR in the market during the forecast period. Cans are cylindrical containers generally made of metals such as tin, steel, and aluminum. They are portable, leak-proof, and require low maintenance than glass cans. Cans are easy to carry and are ideal for grab-and-go or food-on-the-go trends. Moreover, they appear fancy and attractive. The rising awareness of environmental concerns is driving the demand for cans. Manufacturers are also launching innovative cans with attractive prints to differentiate themselves from other brands in the market.

Based on flavor, the hard seltzer market is segmented into citrus fruits, berries, tropical fruits, and others. Based on packaging type, the global hard seltzer market is segmented into bottles and cans. The hard seltzer market, based on distribution channel, is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The hard seltzer market, based on geography, is segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM).

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This release was published on openPR.