Ready-to-drink (RTD) beverages are gaining popularity as they are convenient to consume and not restricted to a specific location or time. Due to hectic lifestyle and busy schedule, people prefer products in RTD packaging; it is ideal for on-the-go consumption. Additionally, due to COVID-19-induced lockdowns, alcohol consumption pattern has changed dramatically. Owing to the restriction to stay at home, visits to bar have decreased, resulting in a surge in the demand for products that could be consumed at home. According to ISWR Drinks Market Analysis, the RTD category—including hard seltzers—accounted for the highest rise in consumption in the US in 2020. Also, hard seltzers are available in various flavor combinations. Moreover, RTD beverages—including hard seltzers—usually come in cans that meet the sustainability concerns of consumers, as cans are easily recyclable. Additionally, cans are sleek and compact, as well as printed in vibrant colors, making them easy to carry and appealing to a wide range of consumers. These factors have significantly increased the popularity of RTD beverages across regions, thereby promoting the growth of the hard seltzers market.
The US recorded the highest number of COVID-19 confirmed cases than Mexico and Canada. The crisis adversely affected the manufacturing sector in the region due to a restricted supply chain, raw material shortage, and manufacturing unit’s shutdown. In addition, the overall disruptions in manufacturing processes and research and development activities restrained new developments in the hard seltzer market. However, due to the in-home consumption trend and RTD packaging of hard seltzer, the product demand remained significant even during the lockdowns. Moreover, due to the strong foothold of e-commerce platforms in the region, the market witnessed growth.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. Thus, the North America hard seltzers market is expected to grow at a good CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,772.08 Million |
| Market Size by 2028 | US$ 3,047.95 Million |
| CAGR (2021 - 2028) | 8.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Flavor
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Hard Seltzer Market is valued at US$ 1,772.08 Million in 2021, it is projected to reach US$ 3,047.95 Million by 2028.
As per our report North America Hard Seltzer Market, the market size is valued at US$ 1,772.08 Million in 2021, projecting it to reach US$ 3,047.95 Million by 2028. This translates to a CAGR of approximately 8.1% during the forecast period.
The North America Hard Seltzer Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Hard Seltzer Market report:
The North America Hard Seltzer Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Hard Seltzer Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Hard Seltzer Market value chain can benefit from the information contained in a comprehensive market report.
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