Global Hard Seltzer Market, By Distribution Channel, By Packaging, By Raw Material, By Alcohol Volume & By Region - Forecast and Analysis 2022-2028

The Global Hard Seltzer Market was valued at USD 9.05 billion in 2021, and it is anticipated to attain a market size of USD 38.66 billion by 2028, at a CAGR of 23.05% over the forecast period (2022-2028).



Hard seltzer is a flavored carbonated alcoholic beverage with fewer calories and carbs than other alcoholic beverages. One of the key factors driving the growth of the hard seltzer market is the rising demand for low-alcohol, low-calorie, and gluten-free beverages. Additionally, rising alcoholic beverage spending and increased disposable income are driving the Hard Seltzer Market growth. Due to effective social media marketing that has sold hard seltzers as a "healthier" alcohol choice, hard seltzers have gained enormous popularity in recent years. The global hard seltzer market has seen a surge in the number of manufacturers entering the market and offering a wide range of products with varying tastes and flavors. For example, in May 2020, Kopparberg, a Swedish manufacturer, will launch a line of hard seltzer drinks in the United Kingdom.

Top-down and bottom-up approaches were used to estimate and validate the size of the 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

In developed countries such as the United States, Japan, and Australia, there is increased demand for low-calorie, low-alcohol content, and low-carbohydrate beverages. Furthermore, as people with celiac disease or allergies discover the benefits of a gluten-free beverage, gluten-free beverages are gaining popularity among health-conscious consumers. Furthermore, people suffering from inflammatory diseases and autoimmune disorders are driving demand for the product.

Restraints
Bloating and gas can be brought on by the harsh seltzer's carbonation. In addition, a lot of people think hard seltzer tastes overly sugary. One of the major challenges impeding the growth of the hard seltzer industry is the alcohol content of the product, which is frequently too low for individuals to get buzzed. In addition, hard seltzers are frequently more expensive than other alcoholic drinks. Hard seltzers are often found to have fewer calories than beer or wine, which may be a turnoff for some.

Market Trends

The hard seltzer market has begun to experience remarkable development thanks to its robust social media presence and pop culture buzz. Accordingly, the majority of top businesses are seen seizing the profitable potential by working with influencers and customers to create Instagram-worthy hard seltzer packaging. In January 2020, there were six times as many conversations about hard seltzer on Instagram then there were in January 2019, according to recent research from Bank of America.