The hard seltzer market is estimated to be valued at US$ 6.64 Bn in 2023 and is expected to exhibit a CAGR of 13. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Hard seltzer are alcohol-infused fizzy water or flavored sparkling water with alcohol. They typically contain about 100 calories or less with 5% alcohol by volume (ABV). Hard seltzer gained popularity due to its refreshing taste and low-calorie content. Mainstream companies like Anheuser-Busch and Molson Coors entered the segment to gain share in the growing market.

Market Dynamics:

The Hard Seltzer Market Growth is expected to witness high growth due rising health consciousness among consumers. Hard seltzers contain fewer calories and carbohydrates than regular beers, making them appealing choice for health-conscious consumers. Another driver is the increasing demand for low-calorie alcoholic drinks from millennial population. According to a survey, 61% of millennial drinkers are interested in low-calorie or light alcoholic beverages. The clean and natural profile of hard seltzers also resonates well with millennial preference for healthful products. Lastly, hard seltzer provides a refreshing alternative to beer and sugary mixes, thereby attracting wide consumer base in the alcohol market.

SWOT Analysis

Strength: Hard Seltzer contains lower sugar and calories than beer and flavored malt beverages. It provides easy-to-drink alcoholic alternative for health conscious consumers. Hard seltzers are gaining immense popularity among millennials due to their healthy image.

Weakness: The market lacks product differentiation among various brands. The product is highly commoditized which leads to intense price wars. Unflavored seltzers have very limited appeal compared to flavored variants.

Opportunity: The market has strong potential to grow internationally especially in European and Asian countries. many countries do not have established hard seltzer culture providing scope for new product introductions. Introduction of new flavors and product innovations can attract new customer segments.

Threats: Increased regulatory pressure and taxes on alcoholic beverages pose challenges. Health concerns regarding alcohol consumption may reduce the appeal of the category over long term. Entry of major beer companies increases competition.

Key Takeaways

The global Hard Seltzer market is expected to witness high growth, exhibiting CAGR of 13.% over the forecast period, due to increasing health consciousness among consumers. The market size for 2023 is US$ 6.64 Bn signifying huge potential.

Regional analysis: North America dominates the global hard seltzer market holding around 90% share, led by the US. The category is gaining popularity in Europe as well countries like UK witnessing exponential gains. Rising health awareness is driving interest in low calorie drinks in Asia Pacific region providing opportunities.

Key players: Key players operating in the Hard Seltzer market are Barefoot, Bon V!V Spiked Seltzer, Bud Light, Ficks Beverage Co, Future Proof Brands Llc, Hard Seltzer Beverage Company Llc, Kona, Lift Bridge Brewing Co, Nude Beverages, And White Claw. White Claw is the current market leader capturing over 50% share due to brand recognition and distribution strength.

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