Hard seltzer beverages, are low in calories and carbohydrates with flavored sparkling water as the base along with alcohol content. Hard seltzers popularity surged among health-conscious consumers due to its low-calorie content and gluten-free properties.
The global Hard Seltzer Market is estimated to be valued at US$ 7.65 Bn in 2024 and is expected to exhibit a CAGR of 14.9%over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the hard seltzer market is the introduction of innovative flavors and experimentation in packaging designs by the manufacturers. With growing health-consciousness, consumers are looking for low-calorie beverage options with natural flavors. Hence, companies are developing varied flavor combinations like lemon-lime, fruit punch, black cherry to appeal to the evolving taste preferences. Furthermore, hard seltzer brands are leveraging digital marketing campaigns and social media influencers to promote their unique flavors. Players are also focusing on sustainable and eco-friendly packaging solutions like aluminum cans to attract the environmentally conscious consumers. The innovative product portfolio along with strategic marketing initiatives are helping companies expand their consumer base, thereby augmenting the market size.
Segment Analysis
The global hard seltzer market is dominated by the flavored hard seltzer sub-segment. Flavored hard seltzers account for around 70% of the total market share as consumers prefer the variety of flavors available such as lemon, lime, berries, etc over the plain hard seltzers. With the increasing demand for low-calorie and low-carb alcoholic beverages, the flavored hard seltzers are gaining more popularity among health-conscious consumers.
Key Takeaways
The Global Hard Seltzer Market Demand is expected to witness high growth. The global Hard Seltzer Market is estimated to be valued at US$ 7.65 Bn in 2024 and is expected to exhibit a CAGR of 14.9%over the forecast period 2024 to 2031.
The North American region currently dominates the global hard seltzer market with the United States accounting for over 90% of sales. However, the European market is witnessing rapid growth and is expected to be the fastest growing market during the forecast period. This is mainly due to the increasing popularity of hard seltzers among millennial consumers in countries like the UK, Germany, and France.
Key players related content comprises Key players related content
Key players operating in the hard seltzer market are Hindalco Industries Ltd., Arconic Corp., Norsk Hydro ASA, Constellium N.V., Kaiser Aluminum, Alupco, Gulf Extrusions Co. LLC, Balexo Bahrain Aluminium Extrusion Company, QALEX.
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