Hard Seltzer Market History, Major Manufacturers Performance and Share Analysis By 2024-2031 | BAREFOOT, BON V!V SPIKED SELTZER, BUD LIGHT

The Hard Seltzer Market is estimated for 2024 for the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Hard seltzer is a type of alcoholic beverage made with water, cane sugar, natural flavors and usually carbonated. Available in various fruit flavors, hard seltzers have low calories and carbohydrates making it attractive to health conscious consumers. Hard seltzers are commonly consumed as an alternative to beer or cocktails during social gatherings and parties.

Market Dynamics:

Rising health consciousness among millennial population is driving the growth of the hard seltzer market. Hard seltzers have lower calories content than beer making it preferable for those watching their calorie intake. Additionally, growing product innovations such as flavored and seasonal varieties are also fueling the sales of hard seltzers. Market players are investing heavily in new product launches and marketing campaigns to cash in on the growing consumer demand. Furthermore, the 'better for you' perception of hard seltzers compared to other alcoholic drinks is positively influencing the consumption behavior. However, availability of various alternatives may hamper the market growth during the forecast period.

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Top Key Players are Covered in this Report:

★ BAREFOOT
★ BON V!V SPIKED SELTZER
★ BUD LIGHT
★ FICKS BEVERAGE CO
★ FUTURE PROOF BRANDS LLC
★ HARD SELTZER BEVERAGE COMPANY LLC
★ KONA
★ LIFT BRIDGE BREWING CO
★ WHITE CLAW

Market Segmentation:

By ABV Content:

★ ABV Less Than 5%
★ ABV More Than 5%

By Packaging:

★ Metal Cans
★ Glass Bottles
★ Plastic Bottles

By Distribution Channel:

★ Off-trade
★ On-trade

Key Region/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Hard Seltzer Market Drivers

The growing health and wellness trend pushing consumers towards low-calorie beverages

Over the past few years, health and wellness have become top priorities for many consumers. With growing obesity and diabetes rates, people are paying closer attention to what they consume. Hard seltzers check many boxes as low-calorie alcoholic drinks that are perceived as healthier than beers or cocktails. At around 100 calories per serving, hard seltzers allow consumers to enjoy an alcoholic beverage without major calorie indulgence. The growth in the gym-going culture and popularity of diets has heightened focus on low-sugar options, creating tailwinds for hard seltzers.

The millennial preference for convenience and ease pushing hard seltzers mainstream

Millennials are a large and influential group that prioritizes convenience. Hard seltzers come pre-mixed in sleek aluminum cans, allowing for easy grab-and-go drinking occasions. Their lower alcohol content also means drinkers don't get drunk as quickly as with beers or cocktails. Millennials find this very appealing for recreational day drinking. Hard seltzers are also gender neutral and versatile drinks that pair well beyond summer months. This has helped hard seltzers resonate strongly with millennials and get introduced to the mainstream faster with their support.

Hard Seltzer Market Restrain

Intense competition from other low-calorie beverage categories

While the overall functional beverage market is growing, hard seltzers have to compete with a wide variety of other low-calorie beverage categories for consumer spending including flavored seltzers, spiked seltzers, hard kombuchas, canned wines and new age juices. Brand loyalty takes time to build and it's easy for curious consumers to switch to different options. This competition could lead to slower market adoption rates as drinkers explore different options. For hard seltzers to thrive, they need to develop distinct brand identities that resonate deeply.

Hard Seltzer Market Opportunity

Opportunity to expand into new flavor innovations

Hard seltzers were initially dominated by the basic fruit flavors of lime, blackberry and watermelon. But as the category gains popularity, there is a huge opportunity for companies to experiment with new and varied flavors appealing to different taste profiles. Some examples that have shown promise include tropical flavors like coconut, unique combinations like cherry vanilla and even snacks inspired flavors like pickle or chocolate. Unconventional flavors keep the category feeling fresh and exciting. This opens up a major opportunity to continually attract variety seeking drinkers.

Hard Seltzer Market Trends

Rise of specialty and craft hard seltzers

Like other beverage categories, within the hard seltzer space there is an emerging trend towards specialty and craft options. Small batch brands are experimenting with unique styles like using cane sugar rather than artificial sweeteners, advanced brewing techniques and exotic ingredients. Discerning drinkers are gravitating towards these artisanal beverages for superior taste. Larger brands are also coming out with 'craft inspired' sub-brands to get a slice of the specialty hard seltzer pie. This trend underscores consumers growing preference for authenticity and new experiences versus mainstream bland options.

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The report answers a number of crucial questions, including:

➥ Which companies dominate the global Hard Seltzer market?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the Hard Seltzer market economy globally?

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Hard Seltzer Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.