The hard seltzer category in the US will more than triple by 2023, according to a new report from IWSR Drinks Market Analysis.
Led by brands such as White Claw and Truly, hard seltzer volume in the US is currently about 82.5 million nine-litre cases. IWSR forecasts that by 2023, the category will reach more than 281 million nine-litre cases.
Hard seltzer and other seltzer-like products command a market share of 2.6% of all beverage alcohol in the US, up from only 0.85% a year ago.
IWSR said the rise of the hard seltzer category across the US beverage alcohol industry “has been nothing short of phenomenal”.
“Hard seltzers are far from a fad, they’re growing at a spectacular rate, and increasingly, hard seltzer producers are pulling consumers from other beverage alcohol categories, not just beer,” said Brandy Rand, COO of the Americas at IWSR Drinks Market Analysis.
“Combined, hard seltzers and other canned seltzer-like products (vodka soda, as an example) will drive the total ready-to-drink category, making it the fastest-growing beverage alcohol category in the US over the next five years.”
IWSR also conducted a consumer opinion and attitude study about hard seltzers, and found that more than half (55%) of US alcohol consumers surveyed drink them regularly, at least once a week.
The Hard Seltzer Report shows that while hard seltzers appeal to younger generations of consumers, the category spans all ages and demographics, reaching a broad segment of the population. Consumers cited ‘refreshment’ as the top hard seltzer attribute that appeals to them.
“The rise of hard seltzers shows there was a segment of consumers underserved by the current beverage alcohol market who were looking for alternatives that were refreshing and flavourful, but also low-calorie and low-sugar,” Rand said.
“These products also meet the growing consumer demand for convenience, and appeal to people that enjoy popular cocktails like the vodka soda and wine spritzers. We definitely expect to see more brands taking advantage of this fast-growing trend.”
Earlier this year, Anheuser-Busch launched a new hard seltzer range under its Natural Light brand. The brewer will also release Bud Light Seltzer next year, available in four flavours: black cherry, lemon lime, strawberry and mango.
© FoodBev Media Ltd 2019