Hard Seltzer Market Likely to Impose Positive Growth Trend during 2020 2030

Posted on 2021-02-23 by Future Market Insights, Inc in Internet & Online // 0 Comments

Hard seltzer is a carbonated alcoholic drink that is fermented with sugar having low-calories and carbs than other alcoholic beverages. The rapid urbanization, changing lifestyle, high disposable income, rising consumption rate of alcoholic drinks, and increasing trend of hard seltzer among the young population are factors increasing the demand for hard seltzer in the market. Due to the rising popularity of alcoholic drinks among millennials and the young generation, the global hard seltzer market witness increased preference for flavored alcoholic drinks by consumers. The development of new innovative flavors, combining sugar, tart, and fruity flavor, and new ingredients along with the introduction of new fermenting processes by various companies are major factors responsible for the expansion of the global hard seltzer market. The young generation and millennial crowd have found increased appeal in flavored hard seltzer beverages. The global hard seltzer market is expected to witness a moderate single-digit CAGR during the forecast period.

Request a report sample to gain valuable insights >>> https://www.factmr.com/connectus/sample?flag=S&rep_id=4900

Growing Preference For Flavored Low Alcohol Beverage Amps Up The Demand

The hard seltzer market witness significant growth due to factors such as rising economic growth, tourism and travel industry, increasing online sales of liquor, and café & bar outlets. The increasing impact of western culture, rapid urbanization, changing perception of consumers towards the consumption of alcoholic beverages, and changing consumer preferences in the developing regions are anticipated to drive the growth of the global hard seltzer market. The rising trend of consumption of alcoholic beverages among the young generation and millennials due to the changing consumer choices, rising disposable income, and peer influence among consumers are the key factors expected to propel the demand for the global hard seltzer market. There has been a significant rise in sales and demand for low alcohol beverages because hard seltzer drinks are available with improved taste, and wider choices for health-conscious consumers that drive the growth for the global hard seltzer market.

Government Restrictions And Substitute Products May Hamper The Growth

The hard seltzer low-calorie, less alcohol, carbonated, and health-conscious drink has gained attention among the consumer segment left unexplored by alcoholic beverages market. Moreover, hard seltzers satisfy the demand for new flavors, and need for various cocktail combinations, and the convenience of usage due to insta-friendly sustainable cans. Due to these factors, companies are trying to gain advantage from this fast-growing trend. Due to the stringent regulations from the government regarding the use of water resources and waste management companies suffer from losses that hamper the growth of the global hard seltzer market. Additionally, higher excise and custom duties, and taxation policies on export and import as well as on local manufacturers restrict the expansion of the global hard seltzer market.

Request Methodology & Get a Glimpse of Our Expertize >>> https://www.factmr.com/connectus/sample?flag=EB&rep_id=4900

Hard Seltzer Market Segmentation

Hard Seltzer market can be segmented based on raw materials, type, application, and distribution channel.

Based on raw material, hard seltzer market is segmented into:
- Sparkling water
- Carbonated water
- Alcohol
- Fruit flavours
- others
Based on type, hard seltzer market is segmented into:
- ABV Less than 5%
- ABV More than 5%
Based on packaging, the hard seltzer market is segmented into:
- Bottle
- Cans
Based on sales channel, the hard seltzer market is segmented into:
- Online
- Distributors
- Hypermarket
- Others

Hard Seltzer Market Regional Outlook

Geographically, the hard seltzer market has been classified into seven regions, including North America, Latin America, Europe, Asia Pacific, Oceania, and the Middle East and Africa. North America is expected to dominate the global hard seltzer market. Asia Pacific region is anticipated to be a developing market for the global hard seltzer market, and to register the highest CAGR over the forecast period, due to rising demand from consumers, and increasing urbanization in the region. The European region is expected to witness a significant rise in the global hard seltzer market during the forecast period. Latin America has witnessed stable outgrowth in the hard seltzer market share. Middle East & African region has shown enhanced growth in the hard seltzer market.

Hard Seltzer Market Key Players

The market players are adopting competitive strategies such as mergers, and collaborations with professional marketing firms to introduce their products into the alcoholic beverage market segment. The companies are focusing on providing differentiated products with new tastes and flavors to attract consumer segment underserved by alcoholic beverage market segment. The Hard Seltzer market share is consolidated in nature.

Share Your Requirements & Get Customized Reports >>> https://www.factmr.com/connectus/sample?flag=RC&rep_id=4900

About Fact.MR

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. We are headquartered in Dubai, and operate from our sales office in Dublin, Ireland. Reach out to us with your goals, and we’ll be an able research partner.

Matched content

Editor’s pick