Hard seltzer market to grow by USD 1 billion from 2021 to 2026 | Growing demand from millennials drives market growth- Technavio
NEW YORK, Sept. 18, 2023 /PRNewswire/ -- The hard seltzer market size is expected to grow by USD 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. Growing demand from millennials is notably driving the hard seltzer market. However, factors such as campaigns against alcohol consumption may impede market growth. 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). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format
Key Segment Analysis
The off-trade segment is 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.
To know additional highlights and key points on various market segments and their impact in coming years, View Free PDF Sample Report.
Geographical Market Analysis
North America is estimated to contribute 62% to the growth of the global market during the forecast period. The US is the key contributor to the growth of the hard seltzer market in North America. An increasing number of product launches by major suppliers has increased the awareness and visibility of hard seltzers in the market. Owing to the rising demand for hard seltzer, more and more craft beer makers are entering the market. The region has seen an increase in the number of bars and nightclubs over the past few years. This will further increase the demand for hard seltzer in the region. Thus, such factors are anticipated to drive the growth of the North American hard seltzer market during the forecast period.
Company Insights
The hard seltzer market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes 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.
View Free PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
The US alcoholic beverages market size is projected to increase by USD 52.82 billion and the market size is estimated to grow at a CAGR of 2.95% between 2022 and 2027.
The Cognac Market size is projected to increase by USD 897.31 million and the market size is estimated to grow at a CAGR of 3.64% between 2022 and 2027.
Hard Seltzer Market Scope | |
Report Coverage | Details |
Base year | 2021 |
Historic period | 2017-2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 13.59% |
Market growth 2022-2026 | USD 1 billion |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 14.67 |
Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution | North America at 62% |
Key countries | US, Canada, China, Germany, and UK |
Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled | Anheuser Busch InBev SA, Boston Beer Co. Inc., Constellation Brands Inc., Diageo Plc, E. and 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 and Systems Inc., San Juan Seltzer Inc., The Coca Cola Co., and Kopparberg Cider of Sweden Ltd. |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
Share this article