Hard Seltzer Market Size, Share, Growth Analysis, By Distribution Channel(On-trade, Off-trade), By Packaging(Bottles, Cans), By Raw Material(Fruity flavours, Alcohol, Sparkling water, Carbonated water), By Alcohol Volume-ABV(ABV more than 5.0%, ABV less than 5.0%), By Region - Industry Forecast 2024-2031

Hard Seltzer Market size was valued at USD 8.95 billion in 2019 and is poised to grow from USD 11 billion in 2023 to USD 70.36 billion by 2031, growing at a CAGR of 22.9% in the forecast period (2024-2031).

The hard seltzer market is highly consolidated in nature with the strong presence of large and small companies dominating the market. In order to sustain the in the highly competitive market, most of the players are exloring various vertical and horizontal growth strategies such new product launches, technological innovation, and mergers and acquisitions to diversify the product offering and expand their geographical presence. 'White Claw  (a brand of Mark Anthony Brands International)', 'Truly Hard Seltzer (a brand of Boston Beer Company)', 'Bon & Viv Spiked Seltzer (a brand of Anheuser-Busch InBev)', 'Corona Hard Seltzer (a brand of Constellation Brands)', 'Bud Light Seltzer (a brand of Anheuser-Busch InBev)', 'Vizzy Hard Seltzer (a brand of Molson Coors Beverage Company)', 'High Noon Spirits Company (a subsidiary of E.&J. Gallo Winery)', 'Arctic Chill Hard Seltzer (a brand of Arctic Chill Beverages LLC)', 'Press Hard Seltzer (a brand of Nine Pin Cider Works)', 'Crook & Marker (a brand of World of Chelada)', 'Ficks Beverage Co.', 'Henry's Hard Sparkling (a brand of MillerCoors)', 'Nude Hard Seltzer (a brand of PepsiCo)', 'Pura Still (a brand of FIFCO USA)', 'San Juan Seltzer', 'SeekOut Real Hard Seltzer (a brand of 2 Towns Ciderhouse)', 'Smirnoff Spiked Sparkling Seltzer (a brand of Diageo)', 'Sparkling Ice Spiked (a brand of Talking Rain Beverage Company)', 'Wild Basin Boozy Sparkling Water (a brand of Oskar Blues Brewery)', 'Willie's Superbrew (a brand of Superbrew LLC) '

hard seltzer market is expected to grow at a steady CAGR mainly due to increased demand for low calorie, carbohydrate, and alcohol content alternatives. The demand is majorly from developed countries such as the U.S., Australia, and Japan. The market will further expand owing to increasing popularity of gluten-free beverages for health conscious consumers. Consumers suffering from autoimmune and inflammatory diseases will propel market growth in coming years.

The increasing popularity of flavored alcoholic beverages among millennials is the key trend in the hard seltzer market which is expected to boost the market growth to some extent over the forecast period. The Hard Seltzer Market is witnessing high demand for hard seltzers thanks to their easy availability in hypermarkets, supermarkets, convenience stores, and wine shops and they are also affordable. Online channels are rapidly expanding and started offering alcoholic drinks including hard seltzers across various countires around the globe to increase their revenue. For instance, In May 2020, Taffer’s Mixologist partnered with an e-commerce platform, Thirstie. The platform provides D2C sales for alcohol brands, in order to allow the customers to buy hard seltzer through online platforms.

As per our research and analysis, North America alone accounted for 70% of the hard seltzer market. Wherein, the US is responsible for contributing over 65% to the regional Hard Seltzer Market growth. The success of hard seltzer market in the region can be attributed to multiple product launches, wide product portfolio, easy availability, and entry of new players. For instance, in May 2020, California-based Sudwerk Brewing Co. launched a product named “Life Is Hard Seltzer”. Apart from this, most of the American are found to driven by the wide variety of flavors that are available in hard seltzer. Wherein, grapefruit flavors, passionfruit, and black cherry are found to be most popular among consumers.