Hard Seltzer Market, By ABV Content (ABV Less Than 5%, ABV More Than 5%), By Packaging (Metal Cans, Glass Bottles, Plastic Bottles), By Distribution Channel (Off-trade, On-trade), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Published In : Jun 2023

Code : CMI5794

Pages :130

Formats :

Excel and PDF

Industry : Consumer Goods

Hard Seltzer MarketSize and Trends

The global hard seltzer market size was valued at US$ 5.88 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 13% from 2023 to 2030. The growing preference for flavored beverages among millennials, rising demand for alcoholic beverages with lower alcohol content, increasing product penetration in the on-trade channel, and increasing product advertisement on social media platforms are driving the growth of the hard seltzer market. Additionally, the rising demand for gluten free beverages due to health-conscious consumers and individuals with allergies or celiac disease is further fueling the growth of this market.

Global Hard Seltzer Market Trends:

Growing trend of keto and vegan diet

This market is growing at a rapid pace as a result of the increased demand for alcoholic beverages with low calorie count and higher nutritional value. It is also driven by the rising health consciousness of consumers, who are opting for a healthy lifestyle that is rich in vitamins and minerals. The growing popularity of dietary trends such as keto and vegan diet is further boosting the market growth of hard seltzer.

Launch of new product with different flavors

In order to capitalize on the growing demand for beverages with different flavors, companies are expanding their product portfolios and experimenting with different flavors. For example, in May 2022, Truly created a limited-edition Truly Poolside Variety Pack that features summer cocktail flavors and vibrant can designs. The company is also promoting its brand by featuring it in various social media posts and events.