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Emerging Consumer Trend: The Surge in Demand for Low-Alcohol Carbonated Beverages Fueling Hard Seltzer Market Expansion || Anheuser-Busch InBev, Barefoot Cellars, Blue Marble, Boathouse Beverage Co., Future Proof Brands LLC
Hard Seltzer Market
The Business Research Company's Hard Seltzer Global Market Report 2023 the rising consumer preference for carbonated beverages with reduced alcoholic content is the major driver for the Hard Seltzer market's growth in the forecast period. Carbonated beverages are drinks that include carbon dioxide dissolved in water, resulting in fizzing and bubbling. Carbonated water is mixed with alcohol and fruit flavors to make hard seltzer. For instance, according to PepsiCo, a US-based carbonated beverages company, India's annual per-capita bottle consumption in beverages increased by 84 bottles in 2021. In India, carbonated drinks account for 51% of PepsiCo's total sales. Therefore, the rising consumer preference for carbonated beverages drives the growth of the hard seltzer market..
The global hard seltzer market size grew from $12.45 billion in 2022 to $14.65 billion in 2023 at a compound annual growth rate (CAGR) of 17.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The hard seltzer market size is expected to grow to $28.5 billion in 2027 at a CAGR of 18.1%.
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Major competitors in the hard seltzer market are Anheuser-Busch InBev, Barefoot Cellars, Blue Marble, Boathouse Beverage Co., Future Proof Brands LLC, Cutwater Spirits, High Noon Spirits Company, Kona Brewing Co., Lift Bridge Brewing Co.
A key trend in the Hard Seltzer market includes product innovation. Major companies in the hard seltzer sector are focusing on R&D investments to develop new products with distinctive qualities and enhance their position. For Instance, in 2021, Anheuser-Busch, a US-based brewing company announced that it will invest more than $1 billion in hard seltzer plants in the United States during the next two years. Furthermore, brewing giant Molson Coors Beverage Company is expected to invest $100 million by early 2022 to boost the production of spirit and malt-based hard seltzers.
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https://www.thebusinessresearchcompany.com/report/hard-seltzer-global-market-report
The hard seltzer market is segmented -
• By Type: ABV More Than 5%, ABV Less Than 5%
• By Flavours: Cherry, Grapefruit, Mango, Lime, Other Flavours
• By Packaging: Cans, Glass, Other Packagings
• By Application: Hypermarkets And Supermarkets, Convenience Stores, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the hard seltzer market.
The Business Research Company's "Global Hard Seltzer Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Hard Seltzer Market Include:
1. Executive Summary
2. Hard Seltzer Market Characteristics
3. Hard Seltzer Market Trends And Strategies
4. Hard Seltzer Market - Macro Economic Scenario
5. Hard Seltzer Market Size And Growth
……………
27. Hard Seltzer Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hard Seltzer Market
29. Hard Seltzer Market Future Outlook And Potential Analysis
30. Appendix
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