Driven by the rising demand for flavored alcoholic beverages as well as the adoption of western culture and the growing trend of low-alcohol beverages among millennials, the Global Hard Seltzer Market is forecasted to reach nearly US$ 18 Bn by 2028 says Ken Research Study.
Hard Seltzer, also known as spiked seltzer, hard sparkling water, and alcoholic seltzer, is a blend of carbonated water, fruit flavoring, and alcohol. The flavors differ from brand to brand and from basic flavors like lime, black cherry, ruby grapefruit, and others to more elevated flavors such as lemon agave hibiscus, cucumber peach, melon basil, and others.
Ken Research shares 3 key insights on this high-demand market from its latest research study.
1. Growing Demand for Healthier Alternatives to Beer, Wine, and Other Beverages Encourage Market Growth
The surging demand for low-calorie, natural ingredients, less-sugar, or carbohydrate-content beverages like hard seltzer among health-conscious consumers is expected to create immense opportunity for the growth of the Global Hard Seltzer Market. The growing trend for less-alcohol content beverages with enhanced taste and wider options among young and aged consumers is likely to boost the demand for hard seltzer in the market. Furthermore, the hard seltzer is considered a status symbol among millennial consumers due to which the product is gaining popularity. However, high customs charges and tax policies on the import and export of hard seltzer products may impede the growth of the market.
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According to Ken Research estimates, the Global Hard Seltzer Industry – valued at around US$ 5 Bn in 2017 and estimated to reach nearly US$ 9 Bn by 2022 – is expected to grow to around US$ 18 Bn opportunity by 2028.
2. Increasing Preference for Strong Carbonated Alcoholic Beverages is driving the Market Growth
The increasing trend of alcoholic consumption with low-alcohol content among millennials and gen Z coupled with rising health consciousness among consumers is boosting the demand for comparatively healthier alternatives to beer, wine, and others, which is likely to aid the growth of the market. Moreover, hard seltzer contains comparatively fewer calories and low sugar and carbohydrate content which is gaining popularity among consumers. In addition, hard seltzer is popular as a status symbol among consumers, which is anticipated to boost the product demand and augment the growth of the Global Hard Seltzer Market.
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3. Stringent Regulations on Hard Seltzer Products Are the Most Significant Barrier to the Growth of the Market.
The governmental bodies have laid strict tax policies on the import and export of hard seltzer products and manufacturer of hard seltzer has to pay high custom duties for their products which may restrict the growth of the market. Furthermore, hard seltzer manufacturers also have to undergo Environmental Impact Assessment (EIA) as the government applied regulations on waste management and the use of water resources companies which also may hinder the growth of the market. The below table depicts the import costs for both 1 x 70cl bottle and 6 x 70cl bottles at 40% ABV retailing for £45 in Australia.
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Key Topics Covered in the Report: -
Snapshot of the Global Hard Seltzer Market
Industry Value Chain and Ecosystem Analysis of the Hard Seltzer Market
Market size and Segmentation of the Global Hard Seltzer Market
Historic Growth of the Overall Global Hard Seltzer Market and Segments
Competition Scenario of the Hard Seltzer Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Hard Seltzer Industry
Overview, Product Offerings, and Strategic Developments of Key Competitors
COVID-19 Impact on the Overall Global Hard Seltzer Market
Future Market Forecast and Growth Rates of the Global Hard Seltzer Market and by Segments
Market Size of Application/End-User Segments with historical CAGR and Future Forecasts
Analysis of the Hard Seltzer Market in Major Regions
Major Production / Consumption Hubs in the Major Regions
Major Production/Supply and Consumption/Demand Hubs in Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Hard Seltzer Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Region
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Major Companies Mentioned in the Report
Anheuser-Busch InBev
White Claw Seltzer
The Boston Beer Company
San Juan Seltzer
Hard Seltzer Beverage Company, LLC
BON V!V
THE SMIRNOFF CO.
Blitz-Weinhard Brewing Company
Molson Coors Beverage Company
Corona Seltzer
Notable Emerging Companies Mentioned in the Report
Heineken
Pursue Hard Seltzer
Sonic Hard Beverages
The Coca-Cola Company
Mode
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
Hard Seltzer Producers
Spiked Seltzer Producers
Alcoholic Beverages Manufacturers
Hard Sparkling Water Manufacturers
Alcoholic Beverages Companies
Carbonated Drinks Companies
Suppliers of Packaging Materials (Suppliers of Bottles, Corks)
Food Regulatory Authorities
Alcoholic Beverages Regulatory Authorities
Government Ministries and Departments of Alcoholic Beverages
Investment Banks and PE Firms Focused on Alcoholic Beverages Industry
Potential Entrants into Alcoholic Beverages Industry
Beverages Research and Development Associations
Investment Banking & Financial Institutes
Research & Development Institutes for Alcoholic Beverages Sector
Investors in Hard Seltzer Start-ups
Investors in Alcoholic Beverages Start-ups
Environmental Regulatory Bodies
Packaging Equipment Manufacturers
Government & Food Safety Regulations
Caffeine Producers
Sweetener Producers
F&B Marketing Agencies
Government Departments for Food Standards
Period Captured in the Report
Historical Period: 2017-2021
Forecast Period: 2022E-2028F
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