- Increase in prevalence of AIDs/HIV and STIs, rise in the millennial population, and surge in influence of social media drive the growth of the global hard seltzer market
PORTLAND, Ore., Sept. 21, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Hard Seltzer Market by ABV Content(ABV Less Than 5% and ABV More Than 5%), Packaging (Metal Cans, Glass Bottles, and Plastic Bottles), and Distribution Channel (Off-trade and On-trade): Global Opportunity Analysis and Industry Forecast 2021–2027". As per the report, the global hard seltzer industry was pegged at $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.
Major determinants of the market
Increase in prevalence of AIDs/HIV and STIs, rise in the millennial population, and surge in influence of social media drive the growth of the global hard seltzer market. However, availability of substitute products hampers the market growth. On the contrary, untapped potential in developing countries is expected to create lucrative opportunities for the market players in the future.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/7150
- Majority of the producers have suspended their product launches and assembling activities in developing countries from regions such as Asia-Pacific and LAMEA.
- Even after six months of the pandemic, many countries are practicing complete lockdown to curb the spread of coronavirus, which has created a challenge for hard seltzer manufacturers to expand their businesses in untapped regions.
The metal cans segment dominated the market
By packaging, the metal cans segment held the largest share in 2019, accounting for more than half of the global hard seltzer market, as it is lightweight, impermeable, and has high flexibility properties which make it ideal for the packaging of hard seltzer beverages.However, the glass bottles segment is expected to manifest the highest CAGR of 13.6% during the forecast period, due tobenefits associated such as maintain flavor brilliance and freshness, display appeal, and sustainable.
The on-trade segment to manifest the highest CAGR through 2027
By distribution channel, the on-trade segment is expected to register the highest CAGR of 13.6% during the study period, owing toincreasing number of consumers drinking hard seltzers in bars and restaurants as it has a high standard of services, privacy, and community involvement. However, the off-trade segment held the largest share in 2019, contributing to more than two-thirds of the global hard seltzer market, due tothe growing retail industry, urbanization, and expansions of the cities.
North America held the lion's share
By region, the global hard seltzer market across North America held the largest share in 2019, accounting for more than four-fifths of the market, due togrowing preferences of flavored malt and alcoholic beverages and high preferences for low alcohol content, calories, and gluten-free beverages.However, the market across Asia-Pacific is expected to portray the highest CAGR of 16.9% during the forecast period, owing to growing popularity of the flavored beverages, growing disposable income, and rising millennial population.
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/7150
Major market players
- Barefoot Cellars
- White claw
- Bon & Viv
- Future Proof Brands LLC
- Ficks& Co.
- Lift Bridge Brewing Co.
- Kona Brewing Co.
- Bud Light Seltzer
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
SOURCE Allied Market Research