Market Research Report
Hard Seltzer Market Size, Share & Trends Analysis Report By ABV Content (1.0% To 4.9%, 5.0% To 6.9%), By Distribution Channel (On-trade, Off-trade), By Region, And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||952645|
|Published||Content info||80 Pages
Delivery time: 2-3 business days
|Hard Seltzer Market Size, Share & Trends Analysis Report By ABV Content (1.0% To 4.9%, 5.0% To 6.9%), By Distribution Channel (On-trade, Off-trade), By Region, And Segment Forecasts, 2020 - 2027|
|Published: July 17, 2020||Content info: 80 Pages||
Market Growth & Trends
The global hard seltzer market size is expected to reach USD 14.5 billion by 2027, expanding at a CAGR of 16.2%, according to a new report by Grand View Research, Inc. The market is expected to experience substantial growth during the forecast period owing to the growing popularity of low content alcoholic beverages among the millennials in the developed economies including the U.S., Canada, and Australia. Furthermore, strong marketing campaigns by alcoholic drinks companies on such products is expected to have a positive impact on the industry.
Products launched have played a crucial role in the growing penetration of hard seltzer. In June 2020, Tesco announced to launch dedicated hard seltzer. It will be distributed by Mark Anthony Brands. The launch makes a significant milestone for the category in the U.K. that has been turning into a hotspot for hard seltzer manufacturers. In November 2019, AB InBev's launched Mike's Hard Sparkling Water in the U.K. The increasing demand for the product in the country is attributed to the increasing demand for healthier products with low calorie and sugar and clean labels which are still luxurious.
Similarly, in June 2020, Smirnoff Seltzer also entered the U.K. through various off-trade channels. The product is available in two flavors in the country including Smirnoff Seltzer Orange and Grapefruit, and Smirnoff Seltzer Raspberry and Rhubarb. The product is available in 250ml cans with ABV content of 4.7% and is priced at GBP 1.8 per can.
Australia has been evolving as another major center for the industry. Along with White Claw, Carlton and United Breweries launched Actual Vodka Seltzer in the country in May 2020, in two flavors including pure and lime. The drink contains 4.2% ABV and 100.0% natural ingredients.