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Hard Seltzer Market Worth $57.34 Billion By 2030 Growing At A CAGR Of 22.9% Y.O.Y

The global hard seltzer market size is expected to reach USD 57.34 billion by 2030, registering a CAGR of 22.9%, according to a new report by Grand View Research, Inc. Shifting consumer preference for low alcohol content beverages, especially among millennials and the working-class population, is expected to be a key factor contributing to the growth of the market. Hard seltzers are gaining popularity due to the rising preference for low-calorie and low-sugar alternative alcoholic drinks over traditional alcoholic beverages among the health-conscious demographics across the world. Hard seltzer flavors, such as citrus and other fruity flavors, are gaining popularity among consumers. The rising adoption of new flavors among consumers is likely to provide opportunities to the players operating in this market.

For instance, in March 2021 Stewarts Enterprises launched Stewart’s Spiked Seltzer, a line of low-calorie hard seltzers in three flavors, namely Root Beer, Orange Cream, and Black Cherry, to expand in the northeast U.S. Hard seltzer with 5.0% to 6.9% ABV content held the largest revenue share in 2021 and is expected to maintain dominance over the forecast period. The high consumption and wide availability of hard seltzer of this category, especially in the North America region, are driving the growth of this segment. The off-trade segment accounted for a majority of the share in 2021. The increasing availability of such products at Walmart, Target, Costco, and Tesco among others has helped in driving the product sales through off-trade channels.

Furthermore, the closure of on-trade distribution channels due to the outbreak of COVID-19 has also boosted product sale through off-trade channels. The market is consolidated in the U.S. with a major share occupied by Mark Anthony Brands International and The Boston Beer Company. However, it is fragmented in other regions/countries owing to the presence of a large number of players including Mark Anthony Brands International, Anheuser-Busch InBev, The Coca Cola Company, Diageo plc, Heineken N.V., Constellation Brands, Inc., and Constellation Brands, Inc.

Please Visit link For Sample report with TOC: Hard Seltzer Market Report

Hard Seltzer Market Report Highlights

·         Hard seltzer with 1.0% to 4.9% ABV content is projected to register the fastest CAGR

·         The growth can be credited to the high demand for low-alcoholic beverages among millennials and Gen Z consumers

·         The on-trade channel is anticipated to register a CAGR of more than 23% from 2022 to 2030 due to the rising demand through these channels

·         The rest of the World (RoW) is expected to be the fastest-growing market during the forecast period

·         This growth can be credited to the increasing product consumption in countries, such as China, Australia, New Zealand, and India

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Hard Seltzer Market Segmentation

Grand View Research has segmented the global hard seltzer market on the basis of ABV content, distribution channel, and region:

Hard Seltzer ABV Content Outlook (Revenue, USD Million, 2017 - 2030)

·         1.0% to 4.9%

·         5.0% to 6.9%

·         Others

Hard Seltzer Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

·         Off-trade

·         On-trade

Hard Seltzer Regional Outlook (Revenue, USD Million, 2017 - 2030)

·         North America

o    U.S.

o    Canada

o    Mexico

·         Europe

o    U.K.

o    The Netherlands

o    Ireland

·         Rest of the World (RoW)

o    Australia

o    China

o    New Zealand

List of Key Players of Hard Seltzer Market

·         Mark Anthony Brands International

·         Anheuser-Busch InBev

·         The Coca Cola Company

·         Diageo plc

·         Heineken N.V.

·         The Boston Beer Company

·         Molson Coors Beverage Company

·         Constellation Brands, Inc.

·         Kopparberg

·         San Juan Seltzer, Inc.

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

on August 4 at 4:03

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