Hard Seltzer Market to Exceed US$ 4,355.46 million by 2028  

The scope of our recent study on the "Hard Seltzer Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Flavor (Citrus Fruits, Berries, Tropical Fruits, and Others), Packaging Type (Bottles and Cans), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others), and Geography

The hard seltzer market is projected to reach US$ 4,355.46 million by 2028 from US$ 2,500.82 million in 2021; it is expected to grow at a CAGR of 8.2% from 2021 to 2028

Market Overview

Hard seltzer is a type of beverage that is characterized by their low calorie and low alcohol content, which is typically measured by alcohol by volume (ABV). These drinks consist of flavored carbonated water mixed with alcohol and are packaged either in bottles or cans. Furthermore, hard seltzers come in a wide range of flavors, including but not limited to citrus, berry, and tropical flavors. Availability of wide range of flavors attracts wide consumer base.

Market Segmentation 

The hard seltzer market is categorized by flavor into citrus fruits, berries, tropical fruits, and others. In 2020, the tropical fruits segment had the largest market share, and it is expected to have the highest compound annual growth rate (CAGR) during the forecast period. The popularity of tropical flavors is increasing due to their distinct taste and high nutritional value. Manufacturers are launching hard seltzers with a wide range of flavors, including kiwi, watermelon, and passion fruit. Based on packaging type, the hard seltzer market is segmented into bottles and cans. The hard seltzer market is further divided into different distribution channels, such as supermarkets and hypermarkets, specialty stores, online retail, and others. For example, in August 2021, Vizzy, a brand owned by Molson Coors Beverage Co., introduced new hard seltzer flavors, such as kiwi and watermelon, and passion fruit and watermelon. The hard seltzer market is categorized into five primary regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM). North America had the most significant share of the hard seltzer market in 2020, while Asia-Pacific is projected to demonstrate the highest compound annual growth rate (CAGR) during the forecast period.  

Regional Overview

The North American region has experienced a surge in demand for hard seltzers, particularly from younger consumers. This region represents a crucial market for hard seltzers, attributable to several factors, including the substantial influence of social media platforms such as Instagram and Facebook among the youth, the growing interest in low ABV content beverages, and the presence of significant players such as Truly, White Claw, Kona Brewing Co., and Lift Bridge Brewing Co. Additionally, the increasing sales of alcohol through online channels are expected to create opportunities for manufacturers of hard seltzer market in the future. .   

Impact of COVID-19

The global outbreak of COVID-19 has presented unparalleled challenges for the food and beverage industry, which is one of the key sectors affected. The production and distribution of various products were disrupted due to lockdown and border restrictions imposed by several countries, affecting the supply chains. Additionally, due to the financial crisis, many consumers preferred purchasing only essential commodities, reducing the demand for non-essential goods. Nevertheless, the alcoholic beverage segment experienced a notable demand even during the lockdowns. Consumers have shown a preference for consuming ready-to-drink beverages at home. The growing trend towards health consciousness has led to an increased demand for low calorie food and beverages, providing a significant opportunity for the hard seltzer market players. Additionally, as governments relax social restrictions and the pace of vaccination increases, the hard seltzer market is expected to rebound in the coming years.

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