The Rise of Hard Seltzer Market Propels a New Healthier Trend in the Beverage Industry

Hard Seltzer Market


 Over the past several years, the hard seltzer market has seen tremendous growth driven by consumers looking for low-calorie alcoholic beverages. Hard seltzer consists of sparkling water, alcohol, and natural flavors. As opposed to beer or sugary cocktails, hard seltzer is low in calories, carbs, and gluten. With many hard seltzer varieties containing less than 100 calories per serving, they provide a lighter drinking experience, making them very popular, especially during hot summer months. The Global Hard Seltzer Market is estimated to be valued at US$ 7.65 Bn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2030.


Key Takeaways

Key players operating in the Global Hard Seltzer Market Share are Hindalco Industries Ltd., Arconic Corp., Norsk Hydro ASA, Constellium N.V., Kaiser Aluminum, Alupco, Gulf Extrusions Co. LLC, Balexo Bahrain Aluminium Extrusion Company, QALEX. Key players such as Anheuser-Busch InBev SA, Mark Anthony Brands, and Boston Beer Company have seen tremendous success with their hard seltzer offerings and continue to expand flavor offerings to meet market demand.

The demand for hard seltzer is growing rapidly as health-conscious millennial consumers and casual drinkers switch from beer and sugary cocktails. Hard seltzer's low calories and simple ingredients make it a better option for active lifestyles and diets. Millennials, a major consumer group, are increasingly seeking low-calorie alcoholic drinks they can easily incorporate into fitness routines and diets.

Globally, the hard seltzer market is also expanding quickly. Companies are broadening distribution networks internationally to capitalize on the trend. Europe and Asia Pacific regions show strong growth potential with international beverage companies launching hard seltzer products and flavors tailored for regional palates. The global category is anticipated to surpass $15 billion by 2027 supported by continued expansion.

Market Key Trends

One key trend driving the hard seltzer market is the premiumization of products and flavors. With the category maturing, companies are releasing limited-edition flavors made from high-quality ingredients to attract new consumers and command higher price points. Unique organic flavors like lavender and exotic fruit varieties appeal to discerning drinkers' tastes. Premiumization allows hard seltzer brands to strengthen their value propositions as status beverages. This trend, combined with diversifying tastes, supports the rapidly growing and highly lucrative global hard seltzer industry.

Porter’s Analysis
Threat of new entrants: Entry is difficult due to the presence of established players and requirement of huge investments in infrastructure and distribution.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like beer and other alcoholic drinks.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute raw materials.
Threat of new substitutes: Threat of new substitutes is moderate as other low calorie alcoholic beverages can be considered as substitutes.
Competitive rivalry: Intense competition exists among existing players due to tough price wars.

Geographical regions
North America region accounts for the major share in terms of value currently. The region has witnessed strong demand for hard seltzers owing to rising health consciousness and preference for low alcohol by volume drinks among consumers.

Asia Pacific region is expected to witness fastest growth over the forecast period. Favorable demographic trends, rising disposable income and changing lifestyle and consumption patterns are some key factors driving demand for hard seltzers in countries like China, India and others in Asia Pacific. Increasing socializing habits and exposure to western culture is also supporting market growth.

Get more insights on this topic: Hard Seltzer Market

Comments

Post a Comment

Popular posts from this blog

The Notchback Market is Estimated To Witness High Growth Owing To Rising Demand From Emerging Economies

Image
  Notchback Market Market Overview: A notchback is a body style of cars characterized by a gently sloped rear window and greenhouse. Notchbacks provide practical interior space with good cargo capacity. They offer balanced interior volume for passengers and cargo along with sleek and stylish exterior design. The body style has advantages like no C-pillar which enhances visibility compared to sedans. Market key trends: The growth of the notchback market is attributed to rising demand from emerging economies like China, India and Brazil. These nations have growing middle-class population and increasing disposable income which is driving vehicle ownership. Moreover, notchback body style is quite popular in these developing markets due to its spacious cabin combined with stylish looks at affordable prices. Leading automakers are launching various notchback models to cater to the surging demand from developing countries, which is fueling the growth of the notchback market size during ...
Read more

The increasing demand for adhesives and sealants is anticipated to open up the new avenue for Petroleum Resins Market

Image
Petroleum Resins Market  Market Overview: Petroleum resins are amorphous thermoplastic polymers made from petroleum-based feedstock materials, through either thermal or catalytic polymerization. They are mainly used for applications such as adhesives, inks, paints, rubber compounding, and others. Different types of petroleum resins include C5 resins, C9 resins, hydrogenated hydrocarbons (HHCs), and modified and specialized petroleum resins. Among applications, adhesives and sealants hold the largest share in the petroleum resins market owing to increasing use of petroleum resins in hot melt and pressure sensitive adhesives. Market Dynamics: The increasing demand for adhesives from packaging and construction industries is a major driver for the petroleum resins market. According to statsista, the global adhesive market was valued at over US$ 53.3 billion in 2020 and is projected to reach around US$ 78 billion by 2027, growing at a CAGR of over 5.7% during the forecast period. Pe...
Read more

Global Synthetic Biology Market Analysis: Size and Share

Image
Synthetic Biology Market  Synthetic biology encompasses the design, construction, and redesigning of biological parts, devices, and systems, either non-existent in nature or reengineered from existing biological systems. The market is experiencing significant growth, driven by the increasing demand for personalized medicine and healthcare. Applications of synthetic biology span pharmaceuticals, chemical production, agriculture, environmental protection, and renewable energy. Advancements in synthetic biology contribute to the rapid manufacturing of biotherapeutics, fostering the development of personalized medicine and more cost-effective healthcare solutions. The Synthetic Biology Market is projected to be valued at US$ 31,693.59 million in 2023, with an expected CAGR of 28% during the forecast period from 2023 to 2030, according to a newly published report by Coherent Market Insights. Key Market Trends: A prominent trend in the Global Synthetic Biology Market is the escalat...
Read more