The meteoric rise of the hard seltzer category across the US beverage alcohol industry has been nothing short of phenomenal, and a comprehensive new Hard Seltzer Report from IWSR Drinks Market Analysis, the leading source of data and intelligence on the global alcoholic beverage market, forecasts that consumer interest in these products will only continue to grow.
Led by the brands White Claw and Truly, hard seltzer volume in the US is currently about 82.5m nine-litre cases (which is already larger by volume than the leading spirits category in the US vodka). IWSR forecasts that by 2023, the category will more than triple, to reach over 281m 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 also estimates that hard seltzer ecommerce sales will increase from a current share of 0.8% to nearly 2% by 2023 as more consumers realise they can purchase these products online.
The IWSR Hard Seltzer Report is also the first study of its kind to define, examine and quantify the size of the entire hard seltzer universe, a category which not only includes malt-based products, but also those produced from wine and spirits. These seltzer-like products, with similar product attributes as leading malt-based brands, add another 7m cases to the total seltzer universe in the US.
“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. 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,” says Brandy Rand, COO of the Americas at IWSR Drinks Market Analysis.
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