Hard seltzer is a carbonated alcoholic drink that is fermented with sugar having low-calories and carbs than other alcoholic beverages. The rapid urbanization, changing lifestyle, high disposable income, rising consumption rate of alcoholic drinks, and increasing trend of hard seltzer among the young population are factors increasing the demand for hard seltzer in the market. Due to the rising popularity of alcoholic drinks among millennials and the young generation, the global hard seltzer market witness increased preference for flavored alcoholic drinks by consumers. The development of new innovative flavors, combining sugar, tart, and fruity flavor, and new ingredients along with the introduction of new fermenting processes by various companies are major factors responsible for the expansion of the global hard seltzer market. The young generation and millennial crowd have found increased appeal in flavored hard seltzer beverages. The global hard seltzer market is expected to witness a moderate single-digit CAGR during the forecast period.
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Growing Preference For Flavored Low Alcohol Beverage Amps Up The Demand
The hard seltzer market witness significant growth due to factors such as rising economic growth, tourism and travel industry, increasing online sales of liquor, and café & bar outlets. The increasing impact of western culture, rapid urbanization, changing perception of consumers towards the consumption of alcoholic beverages, and changing consumer preferences in the developing regions are anticipated to drive the growth of the global hard seltzer market. The rising trend of consumption of alcoholic beverages among the young generation and millennials due to the changing consumer choices, rising disposable income, and peer influence among consumers are the key factors expected to propel the demand for the global hard seltzer market. There has been a significant rise in sales and demand for low alcohol beverages because hard seltzer drinks are available with improved taste, and wider choices for health-conscious consumers that drive the growth for the global hard seltzer market.
Hard Seltzer Market Segmentation
Hard Seltzer market can be segmented based on raw materials, type, application, and distribution channel.
- Based on raw material, hard seltzer market is segmented into:
- Sparkling water
- Carbonated water
- Fruit flavours
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- Based on type, hard seltzer market is segmented into:
- ABV Less than 5%
- ABV More than 5%
- Based on packaging, the hard seltzer market is segmented into:
- Based on sales channel, the hard seltzer market is segmented into:
Government Restrictions And Substitute Products May Hamper The Growth
The hard seltzer low-calorie, less alcohol, carbonated, and health-conscious drink has gained attention among the consumer segment left unexplored by alcoholic beverages market. Moreover, hard seltzers satisfy the demand for new flavors, and need for various cocktail combinations, and the convenience of usage due to insta-friendly sustainable cans. Due to these factors, companies are trying to gain advantage from this fast-growing trend. Due to the stringent regulations from the government regarding the use of water resources and waste management companies suffer from losses that hamper the growth of the global hard seltzer market. Additionally, higher excise and custom duties, and taxation policies on export and import as well as on local manufacturers restrict the expansion of the global hard seltzer market.
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Hard Seltzer Market Key Players
The market players are adopting competitive strategies such as mergers, and collaborations with professional marketing firms to introduce their products into the alcoholic beverage market segment. The companies are focusing on providing differentiated products with new tastes and flavors to attract consumer segment underserved by alcoholic beverage market segment. The Hard Seltzer market share is consolidated in nature.
- Spiked Seltzer
- Nauti Seltzer
- White Claw
- Oskar Blues
- Oskar Blues Brewery
- Pura Still
- Bon & Viv
- Bud Light Seltzer
- Corona Seltzer
- Vizzy Hard Selter
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