Market Highlights
Global Hard Seltzers Market is estimated to be valued at USD 1,649.96 Million by 2026, registering a CAGR of 7.69% during the forecast period. The rising demand of hard seltzers can be attributed to increase in preference for low and reduced alcoholic beverages, mainly amongst health-conscious consumers. Additionally, such beverages are available in smaller packaging, resulting in limited consumption. Gen Z is the major consumer segment contributing to the growth of the hard seltzers market as they are highly conscious about their eating and drinking habits.
North America was the largest market for hard seltzers in 2019, and the region is expected to continue to dominate the global market during the review period. The US was the largest country-level market with a share of 84.83% in 2019. However, Canada is projected to witness a substantial growth rate during the study period. The increasing trend of health consciousness among the American population has resulted in an exponential surge in demand for hard seltzers in the region.
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The global hard seltzers market is expected to register a notable growth rate during the forecast period. Rising consumer preference for carbonated beverages with reduced alcohol content fuels the demand for hard seltzers in the global market. Furthermore, the introduction of sugar-free carbonated and alcoholic beverages, such as hard seltzers and rising demand for such drinks, are driving the growth of the global hard seltzers market. Moreover, innovation of different flavors in hard seltzers is creating profitable opportunities for manufacturers. However, surging demand for non-alcoholic beverages are restraining the growth of the global market.
Segmental Analysis
Global Hard Seltzers Market has been segmented on the basis of Flavor, Packaging Type, Distribution Channel, and Region.
By flavor, the market has been divided into lime, berries, pineapple, grapefruit, orange, blends, and others. The berries segment accounted for the largest market share in 2019. The wide availability of numerous types of berries for flavors and consumer acceptance makes berries a dominant segment under flavor and is expected to boost the growth of the berries hard seltzers. However, the blends segment is projected to be the fastest-growing segment during the forecasted period.
Based on the packaging type, the market has been segmented into bottles and cans. The cans segmentaccounted for a larger market share in 2019 and is expected to register the highest CAGR during the forecast period.
Based on distribution channel, the market has been segmented into store-based and non-store based. The store-based segment has further been divided into supermarkets & hypermarkets, liquor stores, and others. The supermarkets & hypermarkets segment is projected to be the fastest-growing sub-segment during the review period. Liquor stores also play a significant role in the distribution of hard seltzers. However, the non-store-based segment is projected to exhibit a higher growth rate during the review period.
Regional Analysis
Geographically, the Global Hard Seltzers Market has been segregated into North America, Europe, Asia-Pacific, and the Rest of the World. As per MRFR analysis, North America accounted for the dominant share of the global market in 2019, with the US being the major consumer of hard seltzers. Moreover, it is expected to be the most lucrative regional market for hard seltzers manufacturers during the review period. The market in Europe also accounted for a significant share in 2019. The UK is a key contributor to the growth of the hard seltzers market in the region. The increasing popularity of low-calorie content and no added sugar alcoholic beverages is expected to boost the Europe hard seltzers market during the forecast period. The Rest of the World is projected to register a CAGR of 6.90% during the forecast period.
Key Players
Market Research Future recognizes Anheuser-Busch Companies, LLC (US), Molson Coors Beverage Company (US), Constellation Brands, Inc. (US), Boston Beer Co. (US), Polar Beverages (US), Blitz-Weinhard Brewing Co.’s (US), Craft Cocktail Company (US), Oskar Blues (US), and Diageo Plc. (UK) as the key players in the global hard seltzers market.
Key Findings of the Study
Global Hard Seltzers Market is expected to register a growth rate of 7.69% from 2020 to 2026.
The blends segment is estimated to register the highest growth rate during the forecast period.
On the basis of packaging type, the cans segment is expected to hold a larger market share during the forecast period.
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