Hard Seltzer Market Size, Share, Trends, Growth 2032

Hard Seltzer Industry Prospective:

The global hard seltzer market size was evaluated at $19.45 billion in 2023 and is slated to hit $60.33 billion by the end of 2032 with a CAGR of nearly 13.4% between 2024 and 2032.

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Hard Seltzer Market: Overview

Hard seltzer is a kind of highball drink comprising carbonated water or seltzer alcohol as well as various fruit flavorings. Moreover, it is light, refreshing, and contains fewer calories in comparison to beer as well as other conventional alcoholic drinks. Reportedly, millennials as well as the Gen Z population prefer light & refreshing low-calorie alcoholic drinks and hard seltzers perfectly fit their requirements.                                                                   

Key Insights

• As per the analysis shared by our research analyst, the global hard seltzer market is projected to expand annually at the annual growth rate of around 13.4% over the forecast timespan (2024-2032)
• In terms of revenue, the global hard seltzer market size was evaluated at nearly $19.45 billion in 2023 and is expected to reach $60.33 billion by 2032.
• The global hard seltzer market is anticipated to grow rapidly over the forecast timeline owing to a flourishing online retail business and e-commerce activities.
• In terms of ABV content, the 5.0%-6.9% segment is slated to register the highest CAGR over the forecast period.
• Based on packaging type, the metal cans segment is predicted to lead the segmental space in the upcoming years.
• Based on distribution channel, the offline segment is anticipated to make notable contributions towards the global market share in the ensuing years.
• Region-wise, the Asia-Pacific hard seltzer industry is projected to register the fastest CAGR during the projected timespan.

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Hard Seltzer Market: Growth Factors

Thriving retail activities to boost the growth of the market globally over the forecast period  

Flourishing online retail business and e-commerce activities is predicted to contribute majorly towards the expansion of the global hard seltzer market. In addition to this, humungous demand for low-alcohol content drinks among the youth and millennial population is anticipated to drive the growth of the global market. Apart from this, the growing customer trend towards minimizing alcoholic intake is anticipated to translate into massive product demand in the coming years. The introduction of zero percent alcoholic beverages by firms such as White Claw, a key producer of hard seltzers, will embellish the global market trends.

Hard Seltzer Market: Restraints

Easy availability of substitute products can hinder the expansion of the global industry by 2032

Easy access to alternate products and growing health concerns & allergies occurring due to the consumption of products can hinder the global hard seltzer industry surge.

Hard Seltzer Market: Opportunities

Huge demand for alcoholic beverages to open new growth avenues for the global market

Escalating demand for alcoholic drinks free from preservatives and chemicals is anticipated to open new growth opportunities for the global hard seltzer market.

Hard Seltzer Market: Challenges

Restrictions on intake of alcoholic drinks in a few nations can challenge the expansion of the industry globally

Ban on alcohol consumption in some of the countries can pose a huge threat to the expansion of the global hard seltzer industry.

Hard Seltzer Market: Segmentation

The global hard seltzer market is divided into ABV type, packaging type, distribution channel, flavor, and region.                                         

In ABV content terms, the hard seltzer market across the globe is segregated into 1.0%-4.9%, 5.0%-6.9%, and other segments. Furthermore, the 5.0%-6.9% segment, which acquired nearly 59% of the global market revenue in 2023, is projected to register the highest CAGR in the coming seven years. The expansion of the segment in the anticipated timeframe can be due moderation of alcoholic beverages in countries such as the U.S. along with the demand for low-alcoholic drinks. 

On the basis of packaging type, the global hard seltzer industry is segmented into metal cans and glass bottles segments. Additionally, the metal cans segment, which amassed a key share of the global industry in 2023, is forecast to lead the segment in the years ahead. The segmental growth over 2024 to 2032 can be a result of the ability of metal cans to offer portability and convenience to end-users and an ideal packaging good for ready-to-consume drinks such as hard seltzers.

Based on the distribution channel, the hard seltzer market globally can be divided into offline and online segments. Furthermore, the offline segment, which garnered a major share of the global market in 2023, is anticipated to dominate the segment growth in the upcoming years. The growth of the segment in the ensuing years can be due to the easy availability of hard seltzers in supermarkets, retail stores, hypermarkets, wine shops, and convenience stores.

Based on the flavor, the global hard seltzer industry can be separated into classic and flavored segments.  

Hard Seltzer Market: Report Scope

Hard Seltzer Market: Regional Insights

North America is predicted to maintain the leading position in the global hard seltzer market in the upcoming years

North America, which accounted for nearly 55% of the global hard seltzer market proceeds in 2023, is expected to set up a dominant position in the coming decade. Additionally, the regional market expansion over the forecast timeline can be ascribed to humungous product demand from youths. Apart from this, the product manufacturers are promoting the beverages in new ways. Furthermore, the presence of key players in the region will contribute majorly to the regional market trends.

Asia-Pacific hard seltzer industry is slated to record the fastest CAGR in the forecast timespan. The progress of the industry in the region can be attributed to growing health awareness among the population of the emerging economies of APAC. Apart from this, a rise in the per capita income of the people of the region will further account for the regional industry expansion in the coming years.

Key Developments

• In the first half of 2022, Topo Chico Hard Seltzer launched a new flavor referred to as Topo Chico Ranch Water Hard Seltzer in certain regions. Furthermore, it is available in various forms and has four unique flavors.             
• In the first quarter of 2021, HEINEKEN introduced a new hard seltzer product in European countries such as Holland, Austria, Portugal, Ireland, and Spain.

Hard Seltzer Market: Competitive Space

The global hard seltzer market profiles key players such as:

• The Coca-Cola Company
• Molson Coors Beverage Company
• Mark Anthony Brands International
• Kopparberg
• Carlsberg Group
• Constellation Brands Inc.
• Diageo plc
• Anheuser-Busch InBev
• The Boston Beer Company
• Heineken N.V.
• San Juan Seltzer Inc.

The global hard seltzer market is segmented as follows:

By ABV Content

• 1.0%-4.9%
•  5.0%-6.9%
•  Others

By Packaging

• Metal Cans
• Glass Bottles

By Distribution Channel

• Offline
•  Online

By Flavor

• Classic
• Flavoured

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa