Hard seltzer is a category of alcoholic beverages made with seltzer water, alcohol and natural flavors. Hard seltzers are lower in calories and carbohydrates as compared to beers. It has gained immense popularity among health and wellness conscious consumers. The products provide refreshment along with less guilt of calories. The low-alcohol and low-calorie attributes make hard seltzer an ideal choice for social gatherings and outdoor activities.
The global Hard Seltzer Market is estimated to be valued at US$ 6.64 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing preference towards low-alcohol beverages has been a major driver pushing the growth of the hard seltzer market. The market has witnessed double digit growth rates over the past few years led by seltzers gaining widespread acceptance among health conscious millennials and generation Z consumers. According to recent surveys, over 60% of global seltzer consumers choose hard seltzers for their lower calorie and carbohydrate content as compared to beers. The trend is expected to further fuel the market demand over the forecast period. Innovation in flavors has also increased the popularity of seltzers as disposable products for social gatherings and parties.
Segment Analysis
The global Hard Seltzer Market Size can be segmented based on flavor, packaging, distribution channel, and region. The fruit flavor segment currently dominates the market as consumers prefer natural and healthier alternatives like fruit flavors in hard seltzers. Fruit flavors are perceived as cleaner and lighter options compared to malt- and sugary-based drinks, providing health-conscious consumers an option to indulge in an alcoholic beverage.
Key Takeaways
The global hard seltzer market is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis shows that North America currently dominates the market due to increasing adoption among health-conscious millennials and Gen Z consumers. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period owing to rising disposal incomes and changing lifestyles and tastes in countries like China and India.
Key players operating in the hard seltzer market are Life Extension, Pure Encapsulations, Nutricost, BulkSupplements.com, Swanson Health Products, Douglas Laboratories, Thorne Research, NOW Foods, Seeking Health, Jarrow Formulas, Source Naturals, Vital Nutrients, Integrative Therapeutics, BioMatrix, Designs for Health.
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