U.S. Hard Seltzer Market Overview
Hard seltzer is an alcoholic beverage made from a blend of carbonated water, alcohol, and often some type of fruit flavoring. First released commercially in 2013, the market for hard seltzer has grown considerably in recent years. Although similar to other mixed drinks like hard soda and wine coolers, hard seltzer differentiates itself by being relatively low in calories and sugar.
Due to the rising popularity of alcoholic drinks among millennials and the young generation, the U.S. hard seltzer market witness increased preference for flavored alcoholic drinks by consumers.
The U.S. Hard Seltzer market is segmented by ABV Content, Packaging, and Distribution Channel
By ABV Content, the hard seltzer market can be segmented in ABV less than 5% and ABV more than 5%.
By packaging form, the market can be segmented into metal cans, glass bottles, and plastic bottles.
By distribution channel, the hard seltzer market is categorized into Off-Trade and On-Trade.
Segmentation
U.S. Hard Seltzer Market Size And Potential Growth
In 2020, the U.S. Hard Seltzer Market was valued at $1.8 billion. The U.S. Hard Seltzer Market is expected to grow and reach $6.8 billion by 2025.
During the forecasted period 2020-2025, the U.S. Hard Seltzer Market is expected to grow approximately at a CAGR of 30%.
According to a survey conducted in 2019, White Claw holds the largest share of the Hard Seltzer Market in the U.S. with 58% sales followed by Truly with 26% market share.
Present Market Trends
Hard seltzer sales in the U.S. are now slowing dramatically, with just a 4% gain during the 4-week period ended July 11, 2021, compared to 49% growth of 2020.
White Claw’s market share was 58% of the Hard Seltzer market in 2019. §In 2019, the U.S. market contributed more than 70% to the market. Product releases have been critical in increasing the product’s penetration in the region.
Goldman Sachs recently stated that they expect the Hard Seltzer market to reach $30 billion in sales by 2025.
Nowhere is the demand for exciting new products more evident than in Constellation Brand’s launch of Corona Hard Seltzer. It hit the market in February 2020.
Top Growth in the Hard Seltzer Category
In 2020, sales of White Claw Hard Seltzer grew by 130.6% compared to the previous year in the United States. The highest growth in 2020 was Truly Hard Seltzer by 147.1%.
Data Sources: Toptal.com, statista.com, Bloomberg
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