WILMINGTON, DE, UNITED STATES, September 12, 2024 /EINPresswire.com/ -- The global hard seltzer market garnered $3.83 billion in 2019, and is expected to garner $10.92 billion by 2027, growing at a CAGR of 12.7% from 2021 to 2027.
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The report provides a comprehensive analysis of key market trends, driving factors & opportunities, major segments, value chain, product portfolio, and competitive landscape. Surge in prevalence of AIDs/HIV and STIs, increase in the millennial population, and rise in influence of social media augment the growth of the global hard seltzer market. On the other hand, availability of substitute products impede the market growth. Contrarily, untapped potential in developing countries is anticipated to usher lucrative opportunities for the industry.
The key players profiled in this report include Future Proof Brands LLC, Bon & Viv, Truly, White claw, Barefoot Cellars, Ficks& Co, Nude, Kona Brewing Co., Lift Bridge Brewing Co., and Bud Light Seltzer.
COVID-19 scenario:
The covid-19 outbreak massively impacted the market. Various manufacturers have terminated their manufacturing processes and delayed product launches and other investment activities in developing countries.
Various countries are still practicing complete lockdown to impede the spread of coronavirus. This has created a challenge for hard seltzer manufacturers.
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The global market is segmented into ABV content, packaging, distribution channel, and region. Based on packaging, the market is further divided into metal can, plastic bottles, and glass bottles. The metal cans segment contributed to the largest share in 2019, accounting for more than half of the global market.At the same time, the glass bottles segment is anticipated to manifest the highest CAGR of 13.6% during the forecast period.
Based on distribution channel, the market is bifurcated into off-trade and on-trade. The on-trade segment is projected to portray the highest CAGR of 13.6% during the study period. Nevertheless, the off-trade segment accounted for the largest share in 2019, contributing to more than two-thirds of the global hard seltzer market.
Based on region, the North America region held the lion’s share in 2019, contributing to more than four-fifths of the market. On the other hand, the market across Asia-Pacific is expected to showcase the highest CAGR of 16.9% during the forecast period. The report also analyzes the market across regions including LAMEA and Europe.
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