Hard Seltzer Market to 2028- Industry Size, Share and Forecast

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Hard Seltzer Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Flavor (Citrus Fruits, Berries, Tropical Fruits, and Others), Packaging Type (Bottles and Cans), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)

Publication Month: Jan 2022 | Report Code: TIPRE00014668 | No. of Pages: 158 | Category: Food and Beverages | Status: Published

The hard seltzer market is projected to reach US$ 4,355.46 million by 2028 from US$ 2,500.82 million in 2021; it is expected to grow at a CAGR of 8.2% from 2021 to 2028.

Hard seltzers are low alcohol-by-volume (ABV) content beverages available in different fruity flavors, including citrus, berries, and tropical fruits. Moreover, to enhance the flavor profile and attract large consumer groups, hard seltzer brands are offering products with the combination of different flavors. For instance, Truly offers raspberry lime hard seltzers containing both citrus and berry flavors.

In 2020, North America held the largest share of the global hard seltzer market, and Asia-Pacific is estimated to register the fastest CAGR in the market during the forecast period. According to ISWR Drinks Market Analysis, the ready-to-drink (RTD) category—including hard seltzers—accounted for the highest rise in consumption in the US in 2020. Due to hectic lifestyles and busy schedules, people in North America prefer products in RTD packaging, which are ideal for on-the-go consumption. Moreover, the rising demand for low-alcohol content and low-sugar content beverages is also propelling the market growth in the region. Further, the high influence of social media platforms and celebrities is projected to open significant growth opportunities for the hard seltzer brands over the coming years.

Strategic Insights

Report Coverage - Hard Seltzer Market
Report CoverageDetails
Market Size Value inUS$ 2,500.82 million in 2021
Market Size Value byUS$ 4,355.46 million by 2028
Growth rateCAGR of 8.2% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
No. of Pages158
No. of Tables77
No. of Charts & Figures72
Historical data availableYes
Segments coveredFlavor, Packaging Type, and Distribution Channel
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Impact of COVID-19 Pandemic on Hard Seltzer Market

Many sectors, including the food and beverages industry, faced unexpected challenges amid the COVID-19 pandemic. Various restrictions imposed by governments, such as lockdowns, production shutdown, travel bans, and border restrictions, disrupted the global supply chains. This also led to the shortage of raw materials and labor. However, the demand for alcoholic beverages rose significantly during lockdowns. As people were mandated to stay home, they preferred the in-house consumption of beverages. Moreover, due to reduced bar visits, the demand for RTD beverages, such as hard seltzer, grew significantly. As the vaccination rates across different countries are increasing and the manufacturing units are recovering from their losses, the hard seltzer market is also expected to register significant growth during the forecast period.

Hard Seltzer Market Breakdown: By Region

Hard Seltzer Market Breakdown: By Region

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Market Insights

Increasing Consumption of RTD Beverages

Ready-to-drink (RTD) beverages are gaining popularity as they are convenient to consume and not restricted to a specific location or time. Owing to the hectic lifestyle and busy schedule of people, they are increasingly preferring products in RTD packaging. RTD beverages are ideal for on-the-go consumption. Moreover, RTD beverages—including hard seltzers—usually come in cans that meet the sustainability concerns of consumers, as cans are easily recyclable. Additionally, cans are sleek and compact, as well as printed in vibrant colors, making them easy to carry and appealing to a wide range of consumers. These factors have significantly increased the popularity of RTD beverages across regions, thereby promoting the growth of the hard seltzers market.

Product Insights

Based on flavor, the hard seltzer market is bifurcated into citrus fruits, berries, tropical fruits, and others. The tropical fruits segment accounted for the largest market share in 2020 is expected to register the highest CAGR in the market during the forecast period. Tropical fruits, including pineapple, watermelon, kiwi, and passionfruit, have vibrant colors and unique flavors. Moreover, they have high nutritional profiles, which is driving their popularity among consumers. As tropical flavors are becoming more popular, manufacturers are launching a wide range of products with enhanced and innovative flavors to expand their clientele. For instance, in August 2021, Vizzy, a Molson Coors Beverage Co. brand, launched new hard seltzer flavor combinations, such as kiwi and watermelon, and passion fruit and watermelon

Packaging Type Insights

Based on packaging type, the hard seltzer market is bifurcated into bottles and cans. The cans segment accounted for a larger market share in 2020, and the bottles segment is expected to register a higher CAGR in the market during the forecast period. Cans are cylindrical containers generally made of metals such as tin, steel, and aluminum. They are portable, leak-proof, and require low maintenance than glass cans. Cans are easy to carry and are ideal for grab-and-go or food-on-the-go trends. Moreover, they appear fancy and attractive. The rising awareness of environmental concerns is driving the demand for cans. Manufacturers are also launching innovative cans with attractive prints to differentiate themselves from other brands in the market.

Hard Seltzer Market, by Packaging Type – 2020 and 2028

Hard Seltzer Market, by Packaging Type – 2020 and 2028

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Distribution Channel Insights

Based on distribution channel, the hard seltzer market is bifurcated into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment accounted for a larger market share in 2020, and the online retail segment is expected to register a higher CAGR in the market during the forecast period. Online retail stores offer a wide range of products and heavy discounts; also, consumers can conveniently buy desirable products remotely. Additionally, home delivery services attract a large group of consumers to shop through e-commerce portals. Moreover, these websites offer comprehensive product information, along with user reviews, which help buyers compare products and make informed decisions.

 

A few players operating in the hard seltzer market include Anheuser-Busch INBEV; Constellation Brands, Inc; Heineken N.V.; Kona Brewing Co.; Kopparberg; Lift Bridge Brewing Co.; Mark Anthony Brands International; Molson Coors Beverage Company; Oskar Blues; and The Boston Beer Company. These players are launching hard seltzers with innovative flavors to cater to changing customer preferences and to retain their market position.

Report Spotlights

  • Progressive industry trends in the hard seltzer market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the hard seltzer market from 2019 to 2028
  • Estimation of global demand for hard seltzer
  • Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook as well as factors driving and restraining the growth of the hard seltzer market
  • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
  • The size of the hard seltzer market size at various nodes
  • Detailed overview and segmentation of the market, as well as the hard seltzer industry dynamics
  • Size of the hard seltzer market in various regions with promising growth opportunities

Based on flavor, the hard seltzer market is segmented into citrus fruits, berries, tropical fruits, and others. Based on packaging type, the market is segmented into bottles and cans. The hard seltzer market, based on distribution channel, is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others.

Frequently Asked Questions

Some of the prominent players operating in the global hard seltzer market include Anheuser-Busch INBEV; Constellation Brands, Inc; Heineken N.V.; Kona Brewing Co.; Kopparberg; Lift Bridge Brewing Co.; Mark Anthony Brands International; Molson Coors Beverage Company; Oskar Blues; and The Boston Beer Company.
Hard seltzers are typically available in fruit flavors such as citrus fruits, berries, tropical fruits, among others. Bottle and can packaging is generally used for packaging hard seltzers. They are available in supermarkets and hypermarkets, specialty stores, online retail, and other stores.
In 2020, North America led the global hard seltzer market owing to the rising demand for low-calorie and low-ABV (alcohol by volume) content beverages
Based on flavor, the tropical fruits segment held the largest share in the hard seltzers market owing to their unique flavor, vibrant colors, and nutritional profile.
Based on distribution channel, the online retail segment is projected to grow at the fastest rate owing to the factors such as home delivery services, attractive discounts and offers, ease of comparing the products, and availability of a wide range of products of well-known brands under one roof.
The global hard seltzer market is primarily driven by the increasing preference for ready-to-drink beverages with low-calorie and low-sugar content. Moreover the growing influence of celebrities and social media on the lifestyles of people is also projected to drive the market growth.

The List of Companies - Hard Seltzer Market

  1. Anheuser-Busch INBEV
  2. Constellation Brands, Inc
  3. Heineken N.V.
  4. Kona Brewing Co.
  5. Kopparberg
  6. Lift Bridge Brewing Co.
  7. Mark Anthony Brands International
  8. Molson Coors Beverage Company
  9. Oskar Blues
  10. The Boston Beer Company
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global hard seltzer market, thereby allowing players to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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