Increasing consumption rate of alcoholic drinks and growing popularity of hard seltzers among younger population are fueling the growth of North America hard seltzer market
New York City, Jan 12, 2021 (Issuewire.com) - According to TechSci Research report, "North America Hard Seltzer Market By Type (Flavored vs Non-Flavored), By ABV Content (Less than 5%, More than 5%), By Distribution Channel (Online, Convenience Stores, Supermarket/Hypermarkets, Others), By Country, Forecast & Opportunities, 2025", North America hard seltzer market is projected to grow at double-digit CAGR in the next five years on account of increasing consumption of alcoholic beverages and growing preference of consumers towards low alcohol, gluten-free beverages containing flavored drinks with low ABV content. Hard seltzer offers numerous benefits including low-calorie count, and low carbohydrates, which makes it a popular choice among the youths; thereby, contributing to the growth of the market.
Growing urbanization and rapid expansion of the retail sector are the two main key factors to drive the hard seltzer market growth through off-trade channels. Furthermore, online stores are majorly contributing to increase off-trade sales of the hard seltzer by giving lucrative bulk discounts and doorstep delivery facility thereby positively affecting the sales of hard seltzer across the North American market.
Due to COVID-19 lockdown, adverse effects on the logistics of the hard seltzer across North America have been observed, prompting a considerable log jam in the production which as a result has badly affected its demand. Due to the unavailability of resources, players have already suspended their product launch, which has negatively impacted the hard seltzer market in the region.
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Based on ABV content, the market can be categorized into less than 5%, more than 5%. Hard seltzers containing less than 5% ABV content are high in demand in the region and are further expected to dominate the market in terms of revenue during the forecast period. The reasons can be attributed to more brands offering low ABV content hard seltzer and their increasing demand among health-conscious consumers.
Based on the country, the United States holds a significant market share in the North American hard seltzer market as the country is home to some of the leading alcohol brands. Moreover, the high population of alcohol-consuming people also makes the United States a bigger market for hard seltzer manufacturers.
The major players operating in the North American hard seltzer market are White Claw Hard Seltzer (Mark Anthony Brands International), Anheuser-Busch InBev, Constellation Brands (Corona Seltzer), Boston Beer Company (Truly Hard Seltzer), San Juan Seltzer Inc., MillerCoors (Henry's Hard Sparkling Water), Diageo (Smirnoff Seltzers), Molson Coors (Vizzy Hard Seltzer), Boathouse Beverage Co., Future Proof Brands LLC, and Lift Bridge Brewing Co., among others.
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"Players operating in the hard seltzer market are launching new products to widen their presence and increase their share in the market. The launch of cocktail-inspired seltzer by Anheuser-Busch which comes in old-fashioned, sidecar & citrus gimlet variants in 2020 exemplifies this fact. Other strategies employed by the hard seltzer manufacturers include expansion to new geographies and acquisitions.", said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
"North America Hard Seltzer Market By Type (Flavored vs Non-Flavored), By ABV Content (Less than 5%, More than 5%), By Distribution Channel (Online, Convenience Stores, Supermarket/Hypermarkets, Others), By Country, Forecast & Opportunities, 2025" has evaluated the future growth potential of hard seltzer in North America and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take a sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in North America Hard Seltzer Market.
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