New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hard Seltzer Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" - https://www.reportlinker.com/p06438502/?utm_source=GNW
)), By Region, Competition
The global hard seltzer market is anticipated to project robust growth in the forecast period because of increasing awareness and the growing popularity of a healthy alternative worldwide.The market is witnessing growth in countries like the United States, Canada, Australia, and New Zealand.
Moreover, the market is witnessing a surge in demand for regular alcoholic drinks as it is gluten-free with a low calorie, carbohydrate, and sugar content. Therefore, the focus of growing awareness among consumers on the significance of consuming hard seltzer is constantly on boost.
The market of Hard Seltzer is expected to witness a sudden surge in competition for manufacturing and supplying from another developing category, with the growing preference for low-ABV, sparkling-wine spritzes across the globe.While hard seltzer has taken market share away from beer, wine, and spirits, the sparkling-wine sector has been the most significantly impacted.
According to Nielsen’s research, households with sparkling wine consumers spent an average of USD 43 on hard seltzer last year, followed by families with spirits consumers who spent an average of USD 41 and households with beer/malt/cider consumers with an average spend of 37 USD.
Women, millennials, and higher-income households were the most fans when hard seltzers emerged. As per the data collected by New York-based company Cowen Inc. in March 2020, white consumers have the greatest absolute hard seltzer prevalence among ethnic groups at roughly 19%. Black/African Americans, Hispanic/Latinos, and Asian ethnic groups all have a prevalence rate of about 12%. According to the poll, consumers in the USD 50,000 to USD 99,000 income group had the highest incidence accounting for roughly 38% regarding income levels. The respondents in the cohort with the lowest income, less than USD 25,000, had the lowest incidence, around 17%.
It’s also more accessible, safer, and less expensive for outdoor drinkers to bring hard seltzer than to mix up a pitcher of Aperol Spritz.This is why more than half of respondents to a 2019 Nielsen survey cited it as a reason for buying canned cocktails and hard seltzers.
This convenience factor is more significant than ever during the Covid-19 and social distancing due to visiting bar restrictions.As a result, the product saw an increase in market demand.
For instance, there were ten hard seltzer brands in 2018, 26 in 2019, and more than 65 brands worldwide in 2020.
Growing Health Consciousness Influencing Shift Towards Vegan Products
The market is expanding due to the wide availability of options in the product category, satisfying particular needs linked with the issue of obesity and age requirements, followed by the rising popularity of plant-based products.Hard seltzer is essentially fruit-flavored, boozy, carbonated water.
Most hard seltzers have an alcohol content of 4.5–7% and have no more than 100 calories per can. It comes in various tastes, including tangerine, lemon, and watermelon.
In developed nations like the United Kingdom, the United States, Canada, and Australia, the demand for beverages with minimal alcohol content, calories, and carbohydrates is projected to increase.Gluten-free drinks are becoming more popular among health-conscious consumers as people with allergies or celiac disease discover their advantages of them.
Gluten-free hard seltzer drinks have also been shown to be helpful for people with autoimmune disorders and inflammatory diseases.
Innovating Offerings Aiding the Market Growth
A significant factor in the market’s growth is the accelerating demand for launching new and innovative products by relevant companies within each product category.For instance, consider the example of the meat substitute category; Vizzy comes in four flavors and is offered in 12-ounce variety packs.
Additionally, single 24-ounce cans and six-packs of the well-liked Pineapple Mango are available. Young adults between the ages of 25 and 35 who are conscious of their decisions and increasingly value the presence of positives above the absence of sugar and calories make up Vizzy’s target market.
Rising Investment in Hard Seltzer Market Driving the Market Growth
Numerous businesses identify potential areas in the industry for their nations and develop regional strategies.A prominent trend gaining traction in the hard seltzer market is the increase in investment made by market participants in their R&D to introduce novel products.
Major players in the hard seltzer industry are concentrating their R & D spending on creating new products with standout features and strengthening their position. For instance, Molson Coors Beverage Co. will restart its investment to push the growth of the US hard seltzer market in June 2022. The investment at a Fort Worth facility is part of a more significant effort by Molson Coors to increase its position in the hard seltzer market. Additionally, to increase its capacity for producing seltzer, Anheuser-Busch, the American division of Belgian brewing giant AB InBev, would invest USD 50 million in its St. Louis brewery in April 2022.
Market Segmentation
The global hard seltzer market is segmented on ABV content, packaging, distribution channel, region, and competitional landscape.Based on ABV Content, the market is further fragmented into Equals to 5%, Less than 5%, and More than 5%.
Based on Packaging, the market is categorized into Bottles and Cans. Based on distribution channels, the market is segmented into On-trade, Supermarkets/Hypermarkets, Specialty Stores, Online, and Others (Convenience Stores, etc.). The market analysis also studies the regional segmentation divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Company Profiles
Anheuser-Busch Companies LLC, Boston Beer Company, Molson Coors Beverage Company, Diageo North America Inc., Mark Anthony Brands International, E. & J. Gallo Winery (High Noon Spirits Company), Heineken USA Incorporated, Oskar Blues Brewery Holding Co LLC, Constellation Brands, Inc., San Juan Seltzer Inc., are among the major market players in the global platform that lead the market growth of the global hard seltzer market. To remain competitive in the market, companies are focusing on maximizing their reach. For instance, in May 2022, Mark Anthony Brands International increased its awareness campaign for its White Claw hard seltzer brand at UK festivals by spending more than £4 million on a marketing campaign.
Report Scope:
In this report, the global Hard Seltzer market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
• Hard Seltzer Market, By ABV Content:
o Equals to 5%
o Less than 5%
o More than 5%
• Hard Seltzer Market, By Packaging:
o Bottle
o Cans
• Hard Seltzer Market, By Distribution Channel:
o On-trade
o Supermarkets/Hypermarkets
o Specialty Stores
o Online
o Others
• Hard Seltzer Market, By Region:
o North America
United States
Canada
Mexico
o Europe
United Kingdom
Germany
France
Italy
Spain
Switzerland
Netherland
o Asia-Pacific
China
India
Japan
Malaysia
South Korea
Australia
New Zealand
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
Israel
Saudi Arabia
South Africa
Iran
Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global hard seltzer market.
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Formation
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06438502/?utm_source=GNW
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