Global Hard Seltzer Market Expected to Reach USD 14,482.0 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Hard Seltzer Market By ABV content, distribution channel, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 3,544.6 million in 2019 and is expected to grow at a healthy growth rate of 19.2% by the year 2027. In terms of volume, the market is estimated to grow at 18.4% during the forecast period. The global hard seltzer market is anticipated to grow owing to rising inclination of customers towards hard seltzer over its alternatives, increasing adoption of flavoured beverages with minimum alcohol, and increasing awareness related to hard seltzer on online platforms.

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The global hard seltzer market is fragmented based on ABV content, distribution channel, and region. Based on ABV content, the hard seltzer market is segmented into 1.0-4.9%, 5.0-6.9%, and above 6.9% ABV content. On the basis of distribution channel, the global hard seltzer market has been categorized into off-trade and on-trade. Based on region, the global hard seltzer market is classified into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (LAMEA). North America region is further bifurcated into countries such as U.S., and Canada. Europe is further categorized into U.K., France, Germany, and Rest of Europe, Asia Pacific is further segmented into China, South Korea, Japan, Oceania, and Rest of Asia Pacific., and the LAMEA region is further divided into Brazil, Mexico, GCC, and Rest of Latin America and Middle East & Africa (LAMEA).

In 2020, the sales of hard seltzers has increased as compared to that in the year 2019. In 2020, the sales of hard seltzers was high in May due to the warm climate and people relaxing during the lockdown in various countries across the world. Thus, the Covid-19 pandemic has a low impact on the sales of hard seltzers. Extensive marketing campaigning, promotional strategies, product launches, advertisement through social media, and online product delivery by key players has fuelled the market during the Covid-19 crisis. For instance, in 2020, Constellation Brands launched hard seltzer under the name ‘Corona Hard Seltzers’.

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As per GMR industry analyst Akshay Udavant, “The Global Hard Seltzer Market is anticipated to witness significant growth during forecast period 2021-2027 driven by the high demand for hard seltzer over its alternatives such as beer, whiskey, wine, etc. Moreover, increasing urbanization, changing perception of millennial toward the consumption of alcoholic beverages, and changing consumer preferences in the developing countries are anticipated to drive the growth of the global hard seltzer market. Nowadays, millennial are preferring the consumption of highball drinks and sparkling water instead of beer. Furthermore, low calorie and alcohol content in hard seltzers is boosting product consumption. However, high demand for beer, wine, and spirits, and sparkling-wine is expected to restraint the hard seltzers market during the forecast period.

Key Takeaways from the Study:

• The companies such as Barefoot Cellars, HARD SELTZER BEVERAGE COMPANY, LLC, and HIGH NOON SPIRITS COMPANY held approximately one fifth of the market share of global hard seltzer market in year 2019.
• North America accounts for a major share of the market, followed by Asia Pacific. The market in Europe is projected to expand at a substantial CAGR during the forecast period.
• The on-trade distribution channel segment is expected to grow at significant CAGR during the forecast period. Increasing partnership of manufacturers with on-trade stores and restaurants is expected to fuel segment growth during the forecast period. Moreover, manufacturers are focusing advertisement of hard seltzers through various on-trade channels, which in turn, is driving the on-trade segment.
• The LAMEA region is anticipated to expand at a moderate CAGR during the forecast period. Increasing penetration of the US-based companies in Brazil is encouraging regional players to manufacture hard seltzers in the country, which in turn, fuels the market. Moreover, brands offering natural flavored hard seltzers are expected to find opportunities to enter the market in Mexico, and rest of LAMEA. Increasing urbanization and economic development in some countries in LAMEA is expected to drive the market in region.

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Report Scope:

Target Audience:

• Supply-side: Hard seltzer manufacturers, raw material suppliers, primary respondents, and distributors.
• Demand Side: Retailers
• Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
• Associations and Industry Bodies: American Homebrewers Association (AHA), Beer Judge Certification Program (BJCP), European Beer Consumers Union (EBCU), Brewers Association (BA), Society of Independent Brewers (SIBA)

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