Global Hard Seltzer Market Size, Share, Growth Analysis, By Distribution Channel, By Packaging, By Raw Material, By Alcohol Volume-ABV - Industry Forecast 2023-2030

Global Hard Seltzer Market size was valued at USD 8.95 billion in 2021 and is poised to grow from USD 11 billion in 2022 to USD 70.36 billion by 2030, growing at a CAGR of 22.9% in the forecast period (2023-2030).

A flavor-flavored, carbonated alcoholic beverage known as hard seltzer has fewer calories and carbs than other alcoholic beverages. One of the main drivers boosting the hard seltzer industry is the rising demand for beverages with low alcohol level, low calories, and no gluten. The total rise of the hard seltzer market is also being aided by rising disposable income and alcoholic beverage spending.

Due to successful social media marketing that promoted hard seltzers as a "healthier" alcohol option, the hard seltzer has experienced tremendous growth in popularity in recent years. There has been a significant increase in the number of manufacturers entering the hard seltzer industry and providing a wide range of products with various tastes and flavours. An assortment of hard seltzer drinks, for instance, were introduced in the United Kingdom in May 2020 by the Swedish firm Kopparberg.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Hard Seltzer Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The global hard seltzer market is segmented based on distribution channel, packaging, raw materials used, alcohol volume (ABV), and region. Based on distribution channel, it is bifurcated into on- trade and off-trade. By packaging, it is categorized into bottles and cans. Based on raw materials, the global hard seltzer market is categorized into fruity flavors, alcohol, sparkling water, carbonated water, and others. Based on alcohol volume (ABV), it is further categorized into ABV more than 5.0%, ABV less than 5.0%. Based on region, global hard seltzer market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

The need for low-calorie, low-carb, and low-alcohol alternatives is likely to drive the growth of the global hard seltzer market at a consistent CAGR. The U.S., Australia, and Japan are among the industrialised nations that make up the majority of the demand. The growing demand for gluten-free beverages among customers who are health concerned will cause the industry to grow even further. In the approaching years, autoimmune and inflammatory disease sufferers will drive market expansion.

Restraints

Bloating and gas can be brought on by the carbonation in hard seltzer. In addition, a lot of people find the taste of hard seltzer to be overly sugary. One of the main obstacles to the market's expansion for hard seltzer is the fact that its alcohol content is frequently too low to cause people to feel drunk. In addition, hard seltzers can cost more than other alcoholic beverages. Additionally, it's been discovered that hard seltzers typically have fewer calories than beer or wine, which may turn some individuals off.

Market Trends

The main trend in the hard seltzer market is millennials' growing preference for flavoured alcoholic beverages, which is anticipated to partially drive market expansion over the forecast period. Due to their affordability and easy accessibility in supermarkets, convenience stores, hypermarkets, and wine shops, hard seltzers are in high demand in the hard seltzer industry. In order to boost their revenue, online channels are rapidly growing and have started selling alcoholic beverages, including hard seltzers, in many different countries throughout the world. For instance, Taffer's Mixologist and the e-commerce site Thirstie joined in May 2020. To enable users to purchase hard seltzer through online marketplaces, the platform offers direct-to-consumer (D2C) sales for alcohol companies.

The market for hard seltzer has begun to expand significantly thanks to its strong social media presence and pop culture buzz. Accordingly, the majority of top businesses are observed snatching up the lucrative potential by collaborating with influencers and customers to create hard seltzer packaging that is Instagram-worthy. Recent research from Bank of America indicates that there were six times more discussions about hard seltzer on Instagram in January 2020 than there were in January 2019.