LONDON, Feb. 15, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the hard seltzer market, the rising consumer preference for carbonated beverages with reduced alcoholic content is expected to propel the growth of the hard seltzer market going forward. Carbonated beverages are drinks that include carbon dioxide dissolved in water, resulting in fizzing and bubbling. Carbonated water is mixed with alcohol and fruit flavors to make "hard seltzer". For instance, according to PepsiCo, a US-based carbonated beverage company, India's annual per-capita bottle consumption of beverages increased by 84 bottles in 2021. In India, carbonated drinks account for 51% of PepsiCo's total sales. Therefore, the rising consumer preference for carbonated beverages will drive the growth of the hard seltzer market.
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The global hard seltzer market share is expected to grow from $10.50 billion in 2021 to $12.35 billion in 2022 at a compound annual growth rate (CAGR) of 17.6%. This hard seltzer market growth trend is mainly due to the companies' stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $23.45 billion in 2026 at a CAGR of 17.4%.
Rising investment by market players in their R&D to launch innovative products is a key trend gaining popularity in the hard seltzer market. Major companies in the hard seltzer sector are focusing on R & D investments to develop new products with distinctive qualities and enhance their position. For instance, in 2021, Anheuser-Busch, a US-based brewing company, has announced that it will invest more than $1 billion in hard seltzer plants in the United States during the next two years. Furthermore, brewing giant Molson Coors Beverage Company is expected to invest $100 million by early 2022 to boost the production of spirits and malt-based hard seltzers.
Major players in the hard seltzer market are Anheuser-Busch InBev, Barefoot Cellars, Blue Marble, Boathouse Beverage Co., Future Proof Brands LLC, Cutwater Spirits, High Noon Spirits Company, Kona Brewing Co, Lift Bridge Brewing Co., Smirnoff, Nauti Seltzer, White Claw, NÜTRL, Vizzy Hard Selter, Boston Beer Company, and Mother Earth Brewing Company.
The global hard seltzer market is segmented by type into ABV more than 5%, ABV less than 5%; by flavors into cherry, grapefruit, mango, lime, others; by packaging into cans, glass, others; by application into hypermarkets and supermarkets, convenience stores, others.
In 2021, North America was the largest region in the hard seltzer market. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hard seltzer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Hard Seltzer Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide hard seltzer market overviews, analyze and forecast market size and growth for the whole market, hard seltzer market segments and geographies, hard seltzer market trends, hard seltzer market drivers, hard seltzer market restraints, hard seltzer market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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