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According to the latest report by IMARC Group, titled “Hard Seltzer Market: Global Industry, Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global hard seltzer market reached a value of US$ 5.5 Billion in 2021. Hard seltzer is a sparkling or carbonated beverage that is formulated using a blend of alcohol, fruit, malted rice or brewed cane sugar, flavorings, and soda water. Other ingredients, such as enzymes and bittering and stabilizing agents are also incorporated to improve and retain the flavor of the beverage. Hard seltzer is commonly available in various flavors, such as passionfruit, lime, watermelon, lemon, strawberry, tangerine and pomegranate, due to which is widely consumed as a rejuvenating and recreational drink. As compared to regular alcoholic drinks, hard seltzer is considered a healthier alternative as it is gluten-free with a low calorie, carbohydrate and sugar content.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Hard Seltzer Market Trends:
The rising health consciousness among the masses and the increasing demand for beverages with low alcohol by volume (ABV) content, especially among millennials, are creating a positive outlook for the market. In line with this, hard seltzer is gaining significant popularity amidst consumers with celiac disease, allergies, autoimmune disorders, and inflammatory diseases due to its gluten-free properties, which is favoring the market growth. Apart from this, various product innovations, such as the introduction of natural hard seltzer free from artificial preservatives, flavorings, or sweeteners that is fermented using sugar and yeast and then flavored with natural fruit concentrates, are providing an impetus to the market growth. Additionally, the increasing demand for ready-to-drink (RTD) sparkling beverages due to the hectic lifestyle and busy schedules is positively impacting the market growth. Other factors, including the launch of hard seltzer in innovative flavor profiles, rapid expansion in the food and beverage (F&B) industry and the rising expenditure capacities of customers, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ US$ 11.9 Billion by 2027, growing at a CAGR of 13.6% during 2022-2027.
Market Summary:
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