The hard seltzer market has the potential to reach 10% of total alcoholic beverage sales by 2025, according to Credit Suisse.

The popularity of the beverages continues to grow around the world, with sales expected to grow to $4.7billion by next year in the US alone.

Hard seltzer sales hit £12million in the UK in 2020, but that is expected to grow to £75million by 2023.

Molson Coors recently announced plans to invest in a new hard seltzer canning line in the UK.

Credit Suisse analyst Kaumil Gajrawala said the market has the potential to climb to 10% to total alcohol sales.

“The category [growth] is slowing, but excluding declines at share leader White Claw, the category is growing triple digits,” he wrote in a commentary.

“Truly contributed 6 percentage points to industry growth of 5 percentage points in May 2021. The brand is closing the gap with White Claw on velocities and share as well.”

Hard seltzer has “substantial opportunity amid about 20% of industry volume,” Gajrawala said. “We expect significant demand for bars/restaurants to add seltzer draft and cans. The obvious choices will be existing share leaders like Truly.”

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