Hard Seltzer Market Size, Share & Trends Report

Hard Seltzer Market Size, Share & Trends Analysis Report By ABV Content, By Packaging Type, By Distribution Chanel (Off-trade, On-trade), By Flavor, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-4-68038-805-3
  • Number of Pages: 75
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the hard seltzer market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for hard seltzer market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of hard seltzer market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Hard Seltzer Market Categorization:

The hard seltzer market was categorized into four segments, namely ABV content (1.0% to 4.9%, 5.0% to 6.9%), packaging type (Glass Bottles, Metal Cans), distribution channel (Off-trade, On-trade), flavor (Classic or unflavored, Flavored) and region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).

Segment Market Methodology:

The hard seltzer market was segmented into ABV content, packaging type, distribution channel, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The hard seltzer market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into sixteen countries, namely, the U.S., Canada, Mexico, Germany, the UK, Spain, Italy, France, China, India, Japan, South Korea, Australia & New Zealand, Brazil, South Africa, UAE.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Hard seltzer market companies & financials:

The hard seltzer market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Anheuser-Busch InBev’s diverse portfolio houses over 630 beer brands, including global brands like Budweiser, Corona, and Stella Artois; multiple country brands like Beck’s, Hoegaarden, Leffe, and Michelob Ultra; and local champions such as Aguila, Antarctica, Bud Light, Brahma, Cass, Castle, Castle Lite, Cristal, Harbin, Jupiler, Modelo Especial, Quilmes, Victoria, Sedrin, and Skol.

  • Barefoot Cellars manufactures a large variety of wine, including red wine, white wine, pink wine, and bubbly wine. It also offers spritzers, hard seltzers, tap wine, and wine-to-go. These are available in different flavors and textures, including blueberry, juicy, sweet, creamy, smooth, and vanilla.

  • Blue Marble offers a large variety of beverages, along with ultra-premium co-packing, private label, and canning services. It produces slim, sleek, and standard cans in various sizes ranging from 200ml to 473ml. It also produces a large variety of alcoholic and non-alcoholic beverages that are either sparkling or nitrogen-dosed, including sparkling waters, seltzers, teas, energy drinks, spiked seltzers, vitamin waters, kombuchas, fruit juices, and ready-to-drink cocktails.

  • Ficks & Co offers margarita, blood marry, Paloma, and Moscow mule. These contain agave nectar and small amounts of cane sugar to maintain their indulgent taste.

  • Future Proof Brands LLC’s popular brands are Beatbox Beverages, Brizzy Seltzer Cocktail, and CØRKLESS. CØRKLESS delivers a premium blend of California wine in a sleek, single-serve package. Beatbox Beverages offers party punch, which is served on ice and has an 11.1% ABV.

  • HIGH NOON SPIRITS COMPANY has been operating as a subsidiary of E. & J. Gallo Winery since May 2019. The company is engaged in the manufacturing and distribution of alcoholic beverages, including spirits, wines, and hard seltzers.

  • Lift Bridge Brewing Co. offers a large variety of beer under the brand names Farm Girl Saison, Crosscut Pale Ale™, and American Pale Ale. It currently distributes in Minnesota, Wisconsin, North Dakota, and South Dakota.

  • Tequila Cuervo La Rojeña, S.A. de C.V. is one of the largest distributors of spirits in Mexico, with a portfolio covering major categories. The company owns 30 brands; its popular tequila brands include 1800, Jose Cuervo Especial, Jose Cuervo Tradicional, Reserva de la Familia, Azul Centenario, and Maestro Dobel, while its leading North American whiskey brands include Stranahan’s, Tincup, and Pendleton.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Hard Seltzer Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Hard Seltzer Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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