An exclusive report from research company The Insight Partners reveals the Hard Seltzer Market Worth is to cross $4.36 bn globally by 2028.
“Hard Seltzer Market Size Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Flavour, Packaging Type, Distribution Channel, and Geography,” the hard seltzer market is expected to grow from $2.5 billion in 2021 to $4.36 billion by 2028 at a CAGR of 8.2%.
Meanwhile, a Roy Morgan study revealed the wine, beer and spirits categories were all down on consumption while RTDs, led by Hard Seltzer, were up by 16.7%.
The Asia-Pacific region is expected to record the most significant CAGR within the hard seltzer market throughout the projected period.
The hard seltzer market in Asia-Pacific is driven by the high availability of drinks and their growing demand among Millennials.
These low-alcohol content beverages meeting the calorie concerns of consumers are becoming increasingly popular as the demand for low-alcohol and low-sugar content beverages grows substantially among the health-conscious and sober curious. These factors are expected to drive the growth of the global hard seltzer market in the coming years.
Also, the market growth aligns with the increasing influence of social media on buying behaviour and consumption patterns in the region.
With the rising number of social media users across the globe, manufacturers of hard seltzers are promoting their products on social media platforms, such as Instagram and Facebook, to increase brand recognition and customer reach. These marketing programs are projected to provide immense growth opportunities for seltzer brands as they tap into the summer trend of social media users generating memes, videos, and photos about hard seltzers.
Australian player Gravity Seltzer is one example of a seltzer brand riding the wave of seltzer growth projections.
Launched in the summer of 2022 by Mick Spencer and Liam Battye, Gravity Seltzer was established as a drink with less than 1% sugar, low-calorie, gluten-free, brewed like a beer with 4% ABV and using all-natural Australian ingredients. Their mission was to become Australia’s best-tasting hard seltzer and to inspire the population to #ExploreMore of the outdoors and rethink their drinking habits.
Over the past 18 months, the brand has captured 2% of the Australian seltzer market with a goal of 10% in three years. In its first year of trading, Gravity sold 192k cans and made $900k in revenue.
Because it is low sugar and low (or no) alcohol, athletes and sporting identities have embraced it. The likes of Elite Ironman Matt Poole, Surfer Cooper Chapman and 8 x World Champion Wake Boarder Harley Clifford are all investors. It was seen in the hands of Mick Fanning and Nathan Cleary after the Grand Final.
Other sporting investors include Harry Bink and Jenna Douros, who all have a stake in the business.
It has signed a two-year contract as the official seltzer supplier at some of Australia’s leading sports stadiums.
Gravity also gives back to the environment, pledging to plant trees for every Gravity consumed. Gravity Seltzer and Airseed have planted 4,200 seed pods across 102,800 sqm and are committed to growing this number monthly. These new trees have removed 716.1kgs of CO2 in the Snowy.
The brand’s success indicates it will ride the wave of the seltzer category growth in the coming years.