Hard Seltzers Market to see Huge Growth with $10,921.9 Million by 2027

 Hard seltzer, spiked seltzer, or hard sparkling water is a type of highball drink containing carbonated water, alcohol, and fruit flavoring. The fruit-flavored sparkling hard seltzer can or bottle is with just 100 calories, one gram of sugar, and 5% alcohol by volume (ABV). This has made it massively appealing among health-conscious consumers. Rise in disposable income and increase in expenditure on alcoholic beverages drive the growth of the product market. Furthermore, rise in consumption rate of alcoholic drinks and increase in trend of hard seltzer among the young population are some of the other factors that fuel the demand for hard seltzer in the market. 

Global Hard Seltzer Market size is expected to reach $10,921.9 million by 2027 at a CAGR of 12.7% from 2021 to 2027.  

The players operating in the product market have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Truly, White claw, Barefoot Cellars, Future Proof Brands LLC, Bon & Viv, Ficks & Co, Nude, Kona Brewing Co., Lift Bridge Brewing Co., and Bud Light Seltzer.   

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Key findings of the study  

• The hard seltzer market was valued at $3,831.9 million in 2019, and is estimated to reach $1 0,921.9 million by 2027, growing at a CAGR of 12.7 % during the forecast period.  
• By ABV content, the ABV content less than 5% segment is estimated to witness the fastest growth, registering a CAGR of 13.6 % during the forecast period.      
• In 2019, depending packaging, the metal cans segment was valued at $1,975.6 million, accounting for 51.5 % of the global Hard Seltzer market share.  
• In 2019, the U.S. was the most prominent market in North America, and is projected to reach $7,441.3 million by 2027, growing at a CAGR of 11.5 % during the forecast period.

On the basis of distribution channel, the on-trade segment is estimated to reach $4,371.8 million by 2027, at a CAGR of 13.2%. The on-trade segment includes outlets like bars, restaurants, coffee shops, clubs, pubs, and hotels. Growth in the tourism & hospitality industry and young population is likely to surge the demand for hard seltzer through on-trade channels. People majorly prefer to have alcoholic beverages in hotels, restaurants, bars, and pubs, owing to privacy, hospitality, and premium services, which further adds to the growth of the on-trade hard seltzer market. 

Region wise, North America dominated the Hard Seltzer market in 2019, and is projected to sustain its dominance during the forecast period. North America hard seltzer market is driven by increase in young‐adult demographic and rise in consumer demand for premium/super premium alcoholic beverages. Furthermore, the leading alcoholic beverage manufacturers are investing in the product market and coming up with hard seltzer under their well-known alcohol brand, which is likely to get major popularity in short period of time, which in turn, boost the demand for hard seltzer during the forecast period. 

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