Hard Seltzer Market Value To Cross $10,921.9 Million by 2027 | Top Companies and Industry Growth Insights

Hard Seltzer

Surge in prevalence of AIDs/HIV and STIs, increase in the millennial population, and rise in influence of social media augment the growth of the global market.

PORTLAND, OR, UNITED STATES, August 9, 2021 /EINPresswire.com/ — Hard Seltzer Market by ABV Content(ABV Less Than 5% and ABV More Than 5%), Packaging (Metal Cans, Glass Bottles, and Plastic Bottles), and Distribution Channel (Off-trade and On-trade): Global Opportunity Analysis and Industry Forecast 2021–2027". As per the report, the global hard seltzer industry was pegged at $3.83 billion in 2019, and is expected to garner $10.92 billion by 2027, growing at a CAGR of 12.7% from 2021 to 2027.

Increase in prevalence of AIDs/HIV and STIs, rise in the millennial population, and surge in influence of social media drive the growth of the global hard seltzer market. However, availability of substitute products hampers the market growth. On the contrary, untapped potential in developing countries is expected to create lucrative opportunities for the market players in the future.

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COVID-19 scenario:
• Majority of the producers have suspended their product launches and assembling activities in developing countries from regions such as Asia-Pacific and LAMEA.
• Even after six months of the pandemic, many countries are practicing complete lockdown to curb the spread of coronavirus, which has created a challenge for hard seltzer manufacturers to expand their businesses in untapped regions.

According the hard seltzer market trends, the product market is segmented into ABV content, packaging, and distribution channel, and region. By ABV content, it is categorized into ABV less than 5% and ABV more than 5%. Depending on packaging, it is fragmented into metal cans, glass bottles, and plastic bottles. On the basis of distribution channel, it is differentiated into off-trade and on-trade. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, Ireland, the Netherland, Sweden, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

On the basis of ABV content, the ABV less than 5% segment was valued at $2,092.7 million in 2019, and is projected to reach $ 5,622.2 million by 2027, registering a CAGR of 11.9 % from 2021 to 2027. This is majorly attributed to growing health concerns and increasing fad of flavored alcoholic beverages and ciders. Furthermore, casual or irregular alcohol drinkers are majorly attracted toward the hard seltzers, owing to low ABV content and increased consumption in family parties.

On the basis of packaging, the glass bottles segment was valued at $1,194.0 million in 2019, and is expected to reach $3,673.0 million by 2027, registering a CAGR of 13.8 % from 2021 to 2027. Glass bottles has gained significant popularity in the beverage industry and is expected sustain its popularity throughout the hard seltzer market forecast period. Glass container is popular in alcohol beverage industry, owing to the aesthetic appearance and transparent nature, which allows the manufacturer to showcase the premium quality of the product inside. Furthermore, glass is 100% recyclable without the loss of quality and sturdiness. The majority of utilized glass bottles are used for the production of new glass bottles.

On the basis of distribution channel, the on-trade segment is estimated to reach $4,371.8 million by 2027, at a CAGR of 13.2%. The on-trade segment includes outlets like bars, restaurants, coffee shops, clubs, pubs, and hotels. Growth in the tourism & hospitality industry and young population is likely to surge the demand for hard seltzer through on-trade channels. People majorly prefer to have alcoholic beverages in hotels, restaurants, bars, and pubs, owing to privacy, hospitality, and premium services, which further adds to the growth of the on-trade hard seltzer market.

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By region, the global hard seltzer market across North America held the largest share in 2019, accounting for more than four-fifths of the market, due togrowing preferences of flavored malt and alcoholic beverages and high preferences for low alcohol content, calories, and gluten-free beverages. However, the market across Asia-Pacific is expected to portray the highest CAGR of 16.9% during the forecast period, owing to growing popularity of the flavored beverages, growing disposable income, and rising millennial population.

The players operating in the product market have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Truly, White claw, Barefoot Cellars, Future Proof Brands LLC, Bon & Viv, Ficks & Co, Nude, Kona Brewing Co., Lift Bridge Brewing Co., and Bud Light Seltzer.

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David Correa
Allied Analytics LLP
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Source: EIN Presswire