NEWARK, Del, April 19, 2023 (GLOBE NEWSWIRE) -- The hard seltzer market is growing at an unprecedented pace and is expected to reach a valuation of US$ 76.87 billion by 2033, with a projected CAGR of 16.46% between 2023 and 2033.
Key Takeaways from the Hard Seltzer Market
- The growing demand for hard seltzer can be attributed to various factors, including the drink's low-calorie content, refreshing and light taste, and the increasing popularity of low-alcohol drinks.
- The hard seltzer market is particularly appealing to millennials and Gen Z consumers, who prioritize low-calorie and light beverages. Additionally, the expansion of consumer cultural groups and social status, the growing use of social media, and advancements in brewing technology have all contributed to the growing popularity of hard seltzers.
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- The hard seltzer market is segmented based on ABV content, with 5.0% to 6.9% ABV hard seltzers generating the most revenue, accounting for over 52% of the market share in 2022. However, the sales of 1.0% to 4.9% ABV hard seltzers are projected to increase at a CAGR of around 24% between 2023 and 2032. It is due to the growing awareness of general well-being and the trend of moderation, particularly in the United States.
- The bottle segment is expected to record a CAGR of 3.4% due to low processing costs and easy handling. Glass bottles are a popular option due to their recyclability, reusability, and durability.
- The off-trade distribution channel segment is the leading segment, generating over 71.0% of global hard seltzer market sales in 2022. The segment’s growth in 2022 was due to factors such as the well-established infrastructure of hypermarkets, supermarkets, convenience stores, and wine and spirit shops.
- The on-trade distribution channel segment is projected to expand at a rate of more than 23.5% from 2022 to 2030, fueled by bars, clubs, hotels, and lounges.
- Europe is expected to see a CAGR of 8.3% from 2021 to 2028 in the hard seltzer market due to various factors. These factors include the growth of new small microbreweries and the decreasing overall alcohol content and the harmful use of alcohol in the region
- The United States has a fragmented market with a large number of breweries, leading to a market value of $17,240.0 million by 2023. The success of the hard seltzer market in the United States is due to multiple product launches, a diverse product portfolio, and easy availability.
- Asia-Pacific region presents an exciting opportunity for hard seltzer manufacturers, with China, Japan, and India consuming more hard seltzers than other countries in the region.
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Competitive Landscape
The global hard seltzer market is highly consolidated, with both large and small companies dominating the market. To remain competitive, several players are pursuing various vertical and horizontal growth strategies. These strategies include new product launches, technological innovation, and mergers and acquisitions to diversify their product offering and expand their geographical presence.
Latest Developments:
- The first global marketing campaign was launched in April 2021 to capture unscripted, momentary content encouraged by Mark Anthony Brands' White Claw in collaboration with various groups of creators across the United States and worldwide.
- Fellr, an Australian brand, launched two flavors of alcohol seltzer made in Australia in May 2020: Lime & Soda and Dry & Lime.
- Smirnoff Seltzer launched in the United Kingdom in June 2020. This hard seltzer is available in two flavors in the United States: Smirnoff Seltzer Raspberry and Rhubarb and Smirnoff Seltzer Orange and Grapefruit.
Key Companies Profiled
Heineken N.V., Carlsberg A/S, United Breweries Holdings Limited, Devans Modern Breweries Ltd., Diageo PLC, Carlsberg India Pvt. Ltd., Anheuser-Busch InBev., B9 Beverages Pvt. Ltd., Crown Hard Seltzers India Limited (AB InBev), Radico Khaitan Ltd., Beijing Enterprises Holdings Limited, Dogfish Head Craft Brewery, Inc., Squatters Pubs and Craft Hard Seltzers, Sierra Nevada Brewing Co., The Boston Hard Seltzer Company, Inc.
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Key Segments
By ABV Content:
- 1.0% to 4.9%
- 5.0% to 6.9%
- Others
By Packaging:
- Metal Cans
- Bottle
By Distribution Channel:
- Off-trade
- On-trade
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
Table of Content
1. Executive Summary | Hard Seltzer Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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