New York: The Report on Hard Seltzer Market by Decisive Markets Insights was released in the middle of Covid -19 after a thorough analysis of the top players and primary interviews with key industry figures. A market study from Hard Seltzer Market examines the market size, segmentation, future trends, growth rate, drivers and challenges, as well as the sales channels and distributors. The global Hard Seltzer market gathered revenue around USD 4.9 Billion in 2020 and market is set to grow USD 15.2 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 17.4% during the prediction period 2021 to 2027.
Overview of Hard Seltzer Market Study
Hard Seltzer market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.
NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.
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Rising demand for drinks that are gluten-free and low ABV content in the developed economies including the U.S., Australia, and South Korea, has created a great opportunity for the market. Additionally, the increasing number of manufacturers has been entering the market creating availability of a large variety of products. The manufacturers have been running marketing campaigns to create a wider penetration. A major reason behind the increasing adoption of hard seltzer is the reduced content of calories and carbohydrates in comparison to beers and other mixed drinks.
A blend of carbonated water, alcohol, and fruit flavoring contain about 100 calories and 2 grams of carbohydrates per 12 ounce can, compared to 150 calories and 15 to 30 grams of carbohydrates in a similar-sized beer. These products are expected to be one of the favorite choices among people who prefer to drink alcoholic beverages while restricting their carbohydrate or calorie intake. Furthermore, their use of fermented sugars, rather than fermented grains, makes them gluten-free making them suitable for consumers suffering from a gluten allergy
The market is expected to experience substantial growth during the forecast period owing to the growing popularity of low content alcoholic beverages among the millennials in the developed economies including the U.S., Canada, and Australia. Furthermore, strong marketing campaigns by alcoholic drinks companies on such products is expected to have a positive impact on the industry.
Products launched have played a crucial role in the growing penetration of hard seltzer. In June 2020, Tesco announced to launch dedicated hard seltzer. It will be distributed by Mark Anthony Brands. The launch makes a significant milestone for the category in the U.K. that has been turning into a hotspot for hard seltzer manufacturers. In November 2019, AB InBev’s launched Mike’s Hard Sparkling Water in the U.K. The increasing demand for the product in the country is attributed to the increasing demand for healthier products with low calorie and sugar and clean labels which are still luxurious.
Similarly, in June 2020, Smirnoff Seltzer also entered the U.K. through various off-trade channels. The product is available in two flavors in the country including Smirnoff Seltzer Orange and Grapefruit, and Smirnoff Seltzer Raspberry and Rhubarb. The product is available in 250ml cans with ABV content of 4.7% and is priced at GBP 1.8 per can.
ABV Content analysis:
Hard seltzer with ABV content of 5.2% to 6.8% contributed a share of more than 45.0% in the global revenue in 2020. Popular brands offering hard seltzers with the aforementioned alcohol content include Arctic Summer, Bluemarble Pure Love, Brizzy, Bud Light, Canteen, Cutwater Spirits, Ficks, Kona Spiked, Lift Bridge, Pompette, Seekout, Truly, Vive, White Claw, Wild Basin, and NATRAL. CANTEEN’s hard seltzer is made using real vodka with sparkling water and all-natural flavors. It was launched in March 2020.
Hard seltzer with ABV content of 1.0% to 4.9% is expected to register the fastest growth rate during forecast years with a CAGR of 16.7% from 2020 to 2027. Major brands offering these products include Barefoot, Bon and Viv, Two Roads, Henry’s, High Noon, Narwater, Omission, Press, Pulp Culture, Smirnoff, Willie’s Superbrew, and Crook and Marker.
Distribution Channel analysis:
Off-trade contributed a share of more than 55.8% of the global revenue in the market for hard seltzer in 2019. Hard seltzers are being increasingly sold through hypermarkets, supermarkets, convenience stores, mini markets, kiosks, wines, and spirits shops. Online channels have also been rapidly offering alcoholic drinks including hard seltzers. In May 2020, Taffer’s Mixologist partnered with an e-commerce platform, Thirstie, which provides DTC sales for alcohol brands, in order to allow the customers to buy hard seltzer through online platforms.
On-trade is expected to register the fastest growth during forecast years with a CAGR of 16.5% in the hard seltzer market from 2020 to 2027. An increasing number of consumers drinking hard seltzers in bars and restaurants is creating a massive opportunity for the product. Hard seltzers have disrupted the U.S. on-premise space dramatically.
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COVID-19 Impact on Hard Seltzer Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Hard Seltzer market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Hard Seltzer market 2021 onwards. This trend will however continue through the course of the report’s assessment period
This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Hard Seltzer market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the Hard Seltzer market include:
Anheuser-Busch InBev; Barefoot Cellars; Blue Marble; Boathouse Beverage Co.; Future Proof Brands LLC; CUTWATER SPIRITS; Ficks & Co.; HIGH NOON SPIRITS COMPANY; Kona Brewing Co.; Lift Bridge Brewing Co.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
- By ABV Content
- 1.0% to 4.9%
- 5.0% to 6.9%
- By Distribution Channel
Americas has been registered to make the largest contribution in the market of over 70.0% in 2020. Product launches have played a crucial role in the wider penetration of the product in the region. For instance, California-based Sudwerk Brewing Co., launched a product named “Life Is Hard Seltzer” in May 2020. The product is available in various flavors including black cherry, grapefruit flavors, and passionfruit. These products are fermented using sugar and yeast and then flavored with natural fruit concentrates. The company sells these products in the preposition of four 16-ounce cans in most grocery stores across the U.S for USD 13. Along with choosing a single flavor, a mix of all three flavors is available in a combo pack of 24 cans that is priced at USD 75.2.
Asia Pacific is the fastest-growing market for hard seltzer and is expected to witness the fastest CAGR of 17.1% from 2020 to 2027. The industry is expected to witness strong potential as a result of increasing demand in developed economies including South Korea and Australia. As a result, companies have been launching new products to tap their buyers. For instance, in May 2020, Fellr, an Australian brand launched two locally brewed alcoholic seltzers flavors in Lime and Soda and Dry and Lime in Australia.
Why Buy this Report?
The purpose of Nova one advisor’s Hard Seltzer market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
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