ID: MRFR/F-B & N/8624-CR | February 2021 | Region: Global | 100 pages
Global Hard Seltzer Market Overview:
The is a carbonated alcohol that ferments with sugar, with fewer carbohydrates and calories than other alcoholic beverages. High disposable income, change in lifestyle, rapid urbanization and an increase in the rate of consumption of alcoholic beverages and the tendency for hard seltzer to increase in the young population are factors that increase the demand for hard seltzer in the market. Due to the growing popularity of alcoholic beverages between the younger and old generation, the global hard seltzer market is experiencing an increase in consumer preference for flavored alcoholic beverages. The development of sour and fruity flavor, combination of sugar, new innovative flavors and new ingredients, along with the introduction of new fermentation processes by several companies, are the main factors responsible for the expansion of the global seltzer market. The millennial and the younger generation have found a growing appeal in tasting strong carbonated drinks. The global strong seltzer market expects a moderate single-digit growth rate during the forecast.
Impact Of Covid 19 On Hard Seltzer Market Size:
The continued explosion of COVID-19 has had adverse influence on the hard seltzer market with mounting tasks further disrupted at significant central assembly points, which has led to a considerable failure in production. Major producers have halted the launch of their products and assembly activities in emerging economies, including the Asia-Pacific region. In addition, influencing the manufacture, the ongoing pandemic negatively affects the buyer’s order. Hard Seltzer is a potentially unused marketplace for the alcohol industry, which is likely to present profitable and dynamic business opportunities for newcomers. Many countries practice lockdown to control the spread of the coronary virus, which is the biggest challenge for distributors and manufacturers of hard seltzer to expand their business in unexplored regions.
The Growing Preference For Low-Alcohol Beverages Increases Demand
The hard seltzer market is witnessing significant growth due to factors such as growing travel industry, tourism and the economic growth. Increased online sales of alcoholic beverages, coffee and bar shops further strengthens the market. The growing impact of rapid urbanization, western culture, changing consumer preferences in developing regions and changing consumer perceptions of alcohol consumption await the growth of the global hard seltzer market. The increased disposable income, growing trend in alcohol consumption among the old and the younger generation due to changes in consumer choices and the influence of peers among consumers are the main factors expected to accelerate demand for the global hard seltzer market. Significantly increased in sales and demand for low-alcohol beverages, as hard carbonated beverages are available with enhanced taste and wider options for health-conscious consumers driving the growth of the global sparkling water market.
Government Substitute And Restrictions Products Can Hinder Growth
The beverage with less alcohol, carbonated, strong low-calorie gas and healthy has gained attention in the consumer segment. Still unused by the alcoholic beverages market. In addition, the hard seltzers satisfy the demand for the need for various cocktail combinations, new flavors and the usage due to the sustainable and instant cans. Because of these factors, companies are trying to take advantage of this rapidly growing trend. Due to strict government regulations on waste management and the use of water resources companies are suffering losses that are hindering the growth of the global hard seltzers market. In addition, tax policies on imports and exports as well as on local manufacturers, higher customs duties and excise duties limit the expansion of the global seltzers market.
Hard Seltzer Market Segmentation:
The Hard Seltzer market can be segmented based on distribution channel, raw materials, application and type.
According to the type, the hard seltzer market is segmented into:
According to the raw material, the seltzer market is divided into:
Based on the sales channel, the seltzer market is divided into:
According to the packaging, the seltzer market is divided into:
Based to the analysis of the hard seltzer market, based on ABV’s content, the ABV segment accounted for more than 5% of about a third of the soda market share in 2019 and is expected to continue its share during the forecast. This is mainly attributed to the increase in the consumption of alcoholic beverages, such as wine, thorns and beer, to soda with more than 5% ABV. In addition, the 5% ABV hard seltzer is considered a standard proportion of ingredients that are primarily produced by manufacturers.
Hard Seltzer Market Regional Perspective:
Naturally, the solid seltzer market is divided into seven regions, including Latin America, North America, Europe, Asia-Pacific, Oceania, the Middle East and Africa. The Asia-Pacific region is expected to be a developing market for the global hard market and will record the highest growth rate during the forecast, due to growing increased urbanization and consumer demand in the region. North America is expected to dominate the global Hard Seltzer market. The Middle East and African region has shown greater growth in the caustic soda market. Latin America has seen a steady increase in the market share of Hard Seltzer. The European region expects significant growth in the world market for Seltzer during the forecast.
Key Players In The Hard Seltzer Market
Market participants adopt competitive strategies, such as collaborations and mergers with professional marketing companies to introduce their products in the alcohol market segment. The companies focus on providing different products with new flavors to attract the segment of consumers badly served by the market segment of alcoholic beverages. Hard Seltzer's market share is growing by nature.
Key Players Are:
The research report presents a comprehensive assessment of the Hard Seltzer market and contains weighted historical data, insights and facts as well as statistically supported and industry-supported market data. There are also statistics using the correct methods and concepts. The research report provides analysis and information according to the seltzer market segments, such as end-use industry, geography and product type.
Hard Seltzer's Market Portal Deals With An In-Depth Analysis Of:
Economic Trends With Hard Seltzers:
Based on ABV content, the ABV segment of more than 5% accounted for about a third of the global caustic soda market in 2019 and is expected to retain its share during the forecast. This is mainly attributed to the increased consumption of alcoholic beverages, such as thorns, beer and wine, to caustic soda with more than 5% ABV. In addition, the 5% ABV hard seltzer is considered a standard proportion of ingredients that are primarily produced by manufacturers.
Depending on the package, the metal box segment was estimated at $ 1,975.6 million in 2019 and is expected to grow to USD 1.8 Billion in 2028, with a growth rate of 7.75%. Metal cans have gained a large share in the global seltzers market and are expected to retain their share during the forecast. Metal boxes are widely used as containers in the beverage industry, due to their commercial advantages, which include sustainability, support for market activities, durability, comfort and application of multicolor printing. In addition, drinks filled with metal packaging long retain their original taste, do not lose their nutritional properties and do not need additives.
According to a distribution channel, the out-of-exchange segment is projected to grow by $ 1869.4 Mn by 2026, recording a growth rate of 7.35%. Foreign trade includes retail stores such as hypermarkets, supermarkets, wine and liquor stores and convenience stores . The rapid expansion of the retail sector and the growing urbanization must drive the growth of the hard seltzers market through foreign trade channels. In addition, online stores are working hard to increase sales outside the tough seltzer business during the pandemic. The U.S. market is witnessing a significant increase in sales outside of commerce, due to the block-chain and benefits associated with online stores, such as wholesale discounts and home delivery.
The Regional Analysis Of Hard Seltzer Market Share Includes:
The hard seltzer market report is a compilation of quantitative, quality and first-hand information estimates from industry participants across the value chain, industry analysts and contributions from industry experts. The report gives an in-depth analysis of dominant factors, macroeconomic indicators and parent market trends along with the attractiveness of the hard market by segment. The report also maps the qualitative impact of various market factors across market segments and geographies.
Highlights Of Hard Seltzer's Market Report:
|Market Size||USD 1.8 Billion|
|Historical Data||2021 - 2027|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Flavor, Packaging Type, and Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Mark Anthony Brands (US), 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)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Global Hard Seltzers Market is expected to record a substantial market valuation of USD 6.8 billion by 207.
Global Hard Seltzers Market is projected to register a moderate 5.2% CAGR in the forecast period.
The lime segment is expected to observe substantial demand over the review period.
The store-based segment is slated to expand as the fastest-growing segment.
A few eminent market players operating in the global hard seltzers market are White Claw (US), Nauti Seltzer (US), Oskar Blues (US) and others