Burlingame, July 19, 2023 (GLOBE NEWSWIRE) -- The global Hard Seltzer Market size is expected to grow from US$ 5.88 billion in 2022 to US$ 15.65 billion in 2030, at a Compound Annual Growth Rate (CAGR) of 13% during the forecast period, according to a new report by Coherent Market Insights, Inc.
Analysts’ Views on Global Hard Seltzer Market
Hard seltzer (also known as spiked seltzer or hard sparkling alcoholic water) is a drink consisting of alcohol, carbonated water, and open fruit flavorings. Sometimes it comes as the product of the fermentation of cane sugar or the fermentation of malted barley. It is a popular alcoholic drink that combines alcohol with flavored carbonated water. Compared to many other alcoholic drinks, hard seltzer is lower in alcohol content, calories, and sugar. Most hard seltzers are 4.5-7% ABV and are typically 100 calories a can or less. It is available in various flavors, including lemon, watermelon, and tangerine. It is clear, bubbly, lightly flavored alcoholic beverage which has low calories, zero sugar, low carbs, and 5% or a little more alcohol content mixed.
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Key Trends and Analysis of the Global Hard Seltzer Market:
Introduction of novel products by market players is one of the key trends expected to augment the growth of the global hard seltzer market. For instance, market players are focusing on developing and launching novel products in the market to meet growing demand. In March 2023, SunnyD, an American brand announced the launch of SunnyD Vodka Seltzer, a brand new hard seltzer created by popular demand. Available in a 4-PK of 12oz Slim Cans, each can brings a bold orange flavour and is 4.5% ABV, 95 calories, and made with real fruit juice, and includes zero grams of sugar.
Global Hard Seltzer Market – Drivers
Increasing demand for hard seltzer to propel market growth
The demand for hard seltzer is increasing worldwide due to various factors such as the drinks low calorie content, refreshing and mild taste, and the increasing popularity of low-alcohol beverages. In May 2023, Spyk launched four delicious variants ranging from flavours such as Lime, Orange, Mixed Berry, and Original. This 100% natural fruit-flavored beverage boasts low-calorie and low-carb properties and a solid 5.5% alcohol content. Unlike other seltzers that use carbonated cocktail mixes, Spyk is freshly brewed, resulting in a crisp, refreshing taste that is light and guilt-free. Spyk Hard Seltzer is a refreshing and versatile choice that can be enjoyed throughout the day.
Growing population of millennials to boost market growth
With the increasing adoption of low alcohol content beverages among millennials and the younger generation, the demand for hard seltzer is also increasing rapidly. Millennials are by far the biggest consumers of the hard seltzer, and hard seltzer's popularity amongst millennials is evidence of the beverage's ability to carve out its own identity. Millennials have surpassed Baby Boomers as the US largest living adult generation, according to population estimates from the U.S. Census Bureau. According to the Pew Research Center, with immigration adding more numbers to this group than any other, the millennial population is projected to peak in 2033, at 74.9 million.
Hard Seltzer Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2022: | US$ 5.88 Bn | |
| Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 13% | 2030 Value Projection: | US$ 15.65 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | 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, Nude Beverages, And White Claw | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Global Hard Seltzer Market – Restrain
Side effects of hard seltzer to hamper the market growth
One of the key factors expected to hamper the growth of the global hard seltzer market is the side effects associated with hard seltzer and health concern associated with hard seltzer. Drinking too much hard seltzer can lead to alcohol poisoning and other negative health effects. Hard seltzer can also contribute to anxiety and depression, memory loss, and other mental health problems. It can negatively affect work life, home life, and personal relationships. Like other alcohol, hard seltzer is not considered healthy and should be consumed in moderation. The reason is that it’s still a drink that contains alcohol and sugar, so it is important to drink it in moderation.
Global Hard Seltzer Market – Opportunities
High demand for low calories, low alcohol content, and low carbohydrates beverages is expected to offer significant growth opportunities for players in the global hard seltzer market. For instance, compared to many other alcoholic drinks, hard seltzer is low in alcohol content, calories, and sugar. Hard seltzer is an alcoholic beverage which has low calories, zero sugar, low carbs, and 5% or a little more alcohol content mixed. In December 2021, Mandovi Distilleries announced the launch of Pursue, a novel hard seltzer brand. The Hard Seltzer offers four variants inspired by a marriage of global and quintessentially local Indian flavors.
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Global Hard Seltzer Market - Key Developments
In April 2021, HEINEKEN launched a new hard seltzer brand, Pure Piraña, in Europe and would be available in Austria, Ireland, the Netherlands, Portugal, and Spain.
In May 2020, United Breweries and Carlton launched Actual Vodka Seltzer in two flavours with 100% natural ingredients to attract the growing vegan population in Australia.
In May 2020, Taffer’s Mixologist and e-commerce platform, Thirstie, which provides DTC sales for alcohol brands, collaborated to allow customers to buy hard seltzer through online platforms.
Key Market Takeaways:
Global hard seltzer market is expected to exhibit a CAGR of 13% during the forecast period. The global hard seltzer market is growing rapidly in response to the increasing demand for low calories, low alcohol content, and low carbohydrates beverages.
On the basis of ABV Content, ABV less than 5% Segment is expected to dominate the market during the forecast period and this is attributed to the increasing demand for hard seltzer and increasing popularity of hard seltzer across the globe.
On the basis of Packaging, Metal Cans Segment is expected to dominate the market during the forecast period and this is attributed to the growing population of Millennials and younger generations across the globe.
On the basis of Distribution Channel, On-trade Segment is expected to dominate the market during the forecast period and this is attributed to the increasing consumption of hard seltzer in bars and clubs around the world.
On the basis of Geography, North America is expected to hold a dominant position over the forecast period due to increasing demand for hard seltzer, growing population of millennials, and introduction of novel products by market players in the region.
Competitive Landscape:
Key players operating in the global hard seltzer market include Barefoot, Bud Light, Bon V!V Spiked Seltzer, Ficks Beverage CO., Future Proof Brands LLC, Kona, Nude Beverage, White Claw, Lift Bridge Brewing CO., and Hard Seltzer Beverage Company LLC.
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Detailed Segmentation:
Global Hard Seltzer Market, By ABV Content
- ABV Less Than 5%
- ABV More Than 5%
Global Hard Seltzer Market, By Packaging
- Metal Cans
- Glass Bottles
- Plastic Bottles
Global Hard Seltzer Market, By Distribution Channel
- Off-trade
- On-trade
Global Hard Seltzer Market, By Geography:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
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