Hard Seltzer Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Hard seltzer is an alcoholic beverage created from fermented grapes that are considered a better alternative to soda because it is gluten-free, low in calories, low alcohol, and low in sugar. It is a type of highball drink containing seltzer, alcohol, and often fruit flavorings.

Sizing and Forecast
The hard seltzer market size has grown rapidly in recent years. It will grow from $14.37 billion in 2023 to $16.83 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%.  The  growth in the historic period can be attributed to rise in disposable income, the increased online sales of beverages, the growth in the tourism industry, and the advancements in brewing technology.

The hard seltzer market size is expected to see rapid growth in the next few years. It will grow to $32.53 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%.  The growth in the forecast period can be attributed to the rapid urbanization, the rising consumption of alcoholic drinks, the rising demand for gluten-free beverages, and the growing demand for keto and vegan diet. Major trends in the forecast period include offering natural ingredient-based hard seltzers, providing multiple flavor hard seltzers, a focus on expansion of stores or increasing product availability, a focus on product innovations, launch of innovative marketing campaigns, and a focus on strategic partnerships.

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Segmentation & Regional Insights
The hard seltzer market covered in this report is segmented –

1) By Type: Abv More Than 5%, Abv Less Than 5%
2) By Packaging: Cans, Glass, Other Packaging
3) By Distribution Channel , Off-Trade, On-Trade
4) By Flavors: Cherry, Grapefruit, Mango, Lime, Other Flavors

North America was the largest region in the hard seltzer market in 2022. 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, Middle East, Africa.

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Major Driver Impacting Market Growth
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 beverages company, India's annual per-capita bottle consumption in 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 drives the growth of the hard seltzer market.

Key Industry Players
Major companies operating in the hard seltzer market report are Mark Anthony Group, Anheuser-Busch InBev, The Boston Beer Company, Diageo plc, E. & J. Gallo Winery, Heineken N.V., Molson Coors Beverage Company, Constellation Brands Inc., Kona Brewing Company, San Juan Seltzer Inc., Qalbstore, Corner Art Store, Glasstick, Liquid Ai, BeaconsTalk Technologies Pvt Ltd, Cool Story, Moonshine Meadery, Bind Beverages, Kweichow Moutai, Wuliangye Yibin, Foshan Haitian Flavouring and Food Company, Shanxi Xinghuacun Fen Wine Factory, Luzhou Laojiao, Jiangsu Yanghe Brewery Joint-Stock, Inner Mongolia Yili Industrial Group, Tsingtao Brewery Company, Casso Cocktails, Bodega Bay, CD Corp Limited, Clubby, Niyte, Endangered Brewing, Wise Bartender, White Claw, Kopparberg Brewery AB, Féfé drinks, Defy Wine, Silesia Consulting Ltd, Polmos Lublin S. A, Jax Holding Ltd, Vito-House Llc, Kursk brewery llc, Yaroslavsky Distillery, Ip Selivanenko, Truly Hard Seltzer, Barefoot Hard Seltzer, Bud Light Seltzer, Bon & Viv Spiked Seltzer, High Noon Sun Sips Hard Seltzer, Smirnoff Spiked Sparkling Seltzer, Henry's Hard Sparkling Water, Corona Hard Seltzer, Cervecería y Maltería Quilmes, Ambev, Cervecería Nacional (Ecuador), International Beverage & Filling Industries LLC, Vizzy Hard Seltzer, Dubai Refreshments PJSC, Komari Beverages, Coca-Cola Company, PURA Beverage Company, SpikedSeltzer.

The hard seltzer market report table of contents includes:

1.Executive Summary
2. Hard Seltzer Market Characteristics
3. Hard Seltzer Market Trends And Strategies
4. Hard Seltzer Market - Macro Economic Scenario
5. Global Hard Seltzer Market Size and Growth
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31. Global Hard Seltzer Market Competitive Benchmarking
32. Globa Hard Seltzer Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fat Replacers Market
34. Hard Seltzer Market Future Outlook and Potential Analysis
35. Appendix

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