Newark, Oct. 31, 2022 (GLOBE NEWSWIRE) -- According to The Brainy Insights, the hard seltzer market is growing at a CAGR of 23.2% from 2022-2030. The growing demand for low-alcoholic drinks among millennials and the young generation is anticipated to boost the demand for hard seltzer. Further, reducing alcohol consumption owing to rising health consciousness is expected to fuel market growth. Additionally, today’s consumers want low-calorie drinks without losing ABV (Alcohol by Volume), which has positively impacted the market.
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Hard seltzer drinks are available in a variety of flavors such as orange, grapefruit, grapes, lemon, and others, thus, are usually rich in vitamin C. Additionally, most of these are in the range of 85-110 calories per 350 ml can with no added sugar and artificial ingredients. Thus, these beverages fit into the health halo of many consumers that are seeking to consume healthier drinks in comparison to beer.
Hard seltzer is perfectly positioned to meet the needs of customers looking for healthier and gender-neutral options in drinks. These are popular among the young generation of both genders as hard seltzer comes in portable and recyclable cans, the trends highly appreciated by today's consumers. However, their increasing market share is at the expense of well-established items like soda and beer.
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The canned format of hard seltzer with vivid color and design adds to the premium look and enhances the overall product appeal; thus, manufacturers are launching the product in this format. For instance, in August 2020, The Coca Cola Company launched Topo Chico hard seltzer in sleek aluminum cans in Mexico and Brazil.
Hard seltzer companies present in the market are marketing their products using a gender-neutral strategy because millennials and Gen Z, irrespective of gender, follow the same socializing trends. The best example of how a brand became an aspirational brand at affordable pricing is White Claw, which focuses on shared moments with friends instead of materialistic goods and building experiences around the product itself.
Key Players
1. Mark Anthony Brands International
2. The Boston Beer Company
3. The Coca Cola Company
4. Diageo plc
5. Heineken N.V.
6. MOLSON COORS BEVERAGE CO
7. Constellation Brands, Inc.
8. Kopparberg
9. Anheuser-Busch InBev
10. Bro Seltzer
11. Fountain Hard Seltzer
12. SHOTGUN SELTZER
Market Segmentation
• ABV Content Insights
o Upto 4.9%
o 5% to 6.9%
o More than 7.0%
• Distribution Channel Insights
o On-trade
o Off-trade
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• Regional Insights
o North America
US
Canada
o Europe
Germany
UK
Netherlands
Ireland
o Asia Pacific
China
India
Australia
New Zealand
o Central & South America
Brazil
o Middle East & Africa
South Africa
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About the report:
The global hard seltzer market is analyzed based on value (USD Billion). All the segments have been analyzed globally, regional and country basis. The study includes the analysis of more than 30 countries for each piece. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short time. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. The customized solutions are tailored to meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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