The hard seltzer market is growing at an unprecedented pace and is expected to reach a valuation of $76.87 billion by 2033, with a projected CAGR of 16.46% between 2023 and 2033.
Request to Download a Sample Report: Delve Deeper into the Hard Seltzer Market Growth Insights
Key Takeaways from the Hard Seltzer Market:
- The growing demand for hard seltzer market can be attributed to various factors, including the drink’s low-calorie content, refreshing and light taste, and the increasing popularity of low-alcohol drinks.
- The hard seltzer market particularly appeals to millennials and Gen Z consumers, who prioritize low-calorie and light beverages. Additionally, the expansion of consumer cultural groups and social status, the growing use of social media, and advancements in brewing technology have all contributed to the growing popularity of hard seltzers.
- The hard seltzer market is segmented based on ABV content, with 5.0% to 6.9% ABV hard seltzers generating the most revenue, accounting for over 52% of the market share in 2022. However, the sales of 1.0% to 4.9% ABV hard seltzers are projected to increase at a CAGR of around 24% between 2023 and 2032. This is due to the growing awareness of general well-being and moderation trends, particularly in the United States.
- The bottle segment is expected to record a CAGR of 3.4% due to low processing costs and easy handling. Glass bottles are a popular option due to their recyclability, reusability, and durability.
- The off-trade distribution channel segment is the leading segment, generating over 71.0% of global hard seltzer market sales in 2022. The segment’s growth in 2022 was due to the well-established infrastructure of hypermarkets, supermarkets, convenience stores, and wine and spirit shops.
- The on-trade distribution channel segment is projected to expand by more than 23.5% from 2022 to 2030, fueled by bars, clubs, hotels, and lounges.
- Europe is expected to see a CAGR of 8.3% from 2021 to 2028 in the hard seltzer market due to various factors. These factors include the growth of new small microbreweries, the decreasing overall alcohol content, and the harmful use of alcohol in the region
- The United States has a fragmented market with many breweries, leading to a market value of $17,240.0 million by 2023. The success of the hard seltzer market in the United States is due to multiple product launches, a diverse product portfolio, and easy availability.
Dive into Global Market Insights, Discover New Flavors, and Secure Your Sip of Success. Buy Now: https://www.futuremarketinsights.com/checkout/17027
“The Asia Pacific region presents an exciting opportunity for hard seltzer manufacturers, with China, Japan, and India consuming more hard seltzers than other countries.”—analysis our chief consultant at FMI.
Competitive Landscape
The global hard seltzer market is highly consolidated, with both large and small companies dominating the market. Several players are pursuing various vertical and horizontal growth strategies to remain competitive. These strategies include new product launches, technological innovation, and mergers and acquisitions to diversify their product offering and expand their geographical presence.
Latest Developments:
- The first global marketing campaign was launched in April 2021 to capture unscripted, momentary content encouraged by Mark Anthony Brands’ White Claw in collaboration with various groups of creators across the United States and worldwide.
- Fellr, an Australian brand, launched two flavors of alcohol seltzer made in Australia in May 2020: Lime & Soda and Dry & Lime.
- Smirnoff Seltzer launched in the United Kingdom in June 2020. This hard seltzer is available in two flavors in the United States: Smirnoff Seltzer Raspberry and Rhubarb and Smirnoff Seltzer Orange and Grapefruit.
Key Segments Covered in the Market Report:
By ABV Content:
- 1.0% to 4.9%
- 5.0% to 6.9%
- Others
By Packaging:
- Metal Cans
- Bottle
By Distribution Channel:
- Off-trade
- On-trade
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Explore FMI’s related ongoing Coverage on the Food and Beverage Market Domain:
Alcohol Ingredients Market : is anticipated to expand at a CAGR of 5.8% over the forecasted time period. According to projections, the industry would be worth US$ 2,497.2 Million by 2032, up from US$ 1,421.0 Million in 2022. At the end of 2021, the Alcohol Ingredients Market was valued at US$ 1,345.7 Million.
Mussels Market : is expected to reach a market valuation of USD 4.1 billion by the year 2022, accelerating with a CAGR of 4.6% by 2022-2032. The mussel market in the U.S amounts to 65% of the North American mussel market. The market is expected to reach a market value of USD 6.42 billion during the forecasted period.
Dietary Supplements Market : size is likely to exceed US$ 163.66 billion by 2033. The dietary supplements market players can anticipate a compelling CAGR of 9.1% through 2033. This growth of the dietary supplements industry globally comes on the heels of the current market valuation of US$ 68.20 billion in 2023.
GCC Functional Food Market : The revenue generated from the sales of functional foods in GCC countries is estimated to be around US$ 30.9 billion by 2032, and is projected to expand at a CAGR of 11% during the forecast period 2022-2032.
Mussels Market : is expected to reach a market valuation of USD 4.1 billion by the year 2022, accelerating with a CAGR of 4.6% by 2022-2032. The mussel market in the U.S amounts to 65% of the North American mussel market. The market is expected to reach a market value of USD 6.42 billion during the forecasted period.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
The post Hard Seltzer Market Soars Unprecedented Growth and Soaring Demand on Track to Reach US$ 76.87 Billion by 2033| Future Market Insights, Inc. appeared first on Future Market Insights.
