Hard seltzer market to grow by $1bn
The hard seltzer market size is expected to grow by $1 billion from 2021 to 2026, according to Technavio.
In addition, the growth momentum of the market will progress at a CAGR of 13.59% during the forecast period.
The hard seltzer market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market.
The report analyses the market’s competitive landscape and offers information on several market companies, including: Anheuser Busch InBev SA, Boston Beer Co. Inc., Constellation Brands Inc., Diageo Plc, E. & J. Gallo Winery, Future Proof Brands LLC, Hard Seltzer Beverage Company LLC, Heineken NV, Kona Gold Beverage Inc., Lift Bridge Brewing Co., Mark Anthony Brands Inc., Mark Anthony Brands International Unlimited Co., Molson Coors Beverage Co., Nude Beverages, Retail Services & Systems Inc., San Juan Seltzer Inc., The Coca Cola Co., and Kopparberg Cider of Sweden Ltd.
The market is segmented by distribution channel (off-trade and on-trade) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
Theoff-trade segmentis estimated to witness significant growth during the forecast period. The leading off-trade distribution channels for hard seltzer include individual retailers, supermarkets, hypermarkets, and online platforms. These sales channels provide convenience and long operating hours.
Additionally, factors such as discounts from attractive shelf displays and an enhanced shopping experience are driving consumers to purchase hard seltzer in supermarkets and hypermarkets.
However, the global spread of the Internet is expected to facilitate online sales of various types of alcoholic beverages, including hard shelter, impeding the growth of the off-trade segment during the forecast period.