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Key regions: China, Singapore, Australia, Philippines, Worldwide
The Hard Seltzer market in G7 countries has been experiencing significant growth in recent years. This can be attributed to changing consumer preferences, evolving market trends, and local special circumstances in each country.
Customer preferences: Customers in G7 countries have shown a growing preference for low-calorie and low-sugar alcoholic beverages. Hard Seltzers, with their lower calorie and sugar content compared to traditional alcoholic beverages, have gained popularity among health-conscious consumers. The convenience of ready-to-drink cans and the wide variety of flavors available have also contributed to the increasing demand for Hard Seltzers.
Trends in the market: The Hard Seltzer market in G7 countries has witnessed several key trends. Firstly, there has been a surge in product innovation, with companies introducing new flavors and variations to cater to diverse consumer preferences. This trend is driven by the desire to differentiate products and attract new customers. Secondly, there has been a growing focus on sustainability and eco-friendly packaging. Many companies in the Hard Seltzer market have started using recyclable materials for their cans and packaging, appealing to environmentally conscious consumers.
Local special circumstances: Each G7 country has its own unique circumstances that have influenced the growth of the Hard Seltzer market. For example, in the United States, the market has been driven by the rise of the health and wellness trend, as well as the popularity of low-calorie beverages. In the United Kingdom, the market has been influenced by the increasing demand for alcoholic alternatives among younger consumers.
Underlying macroeconomic factors: The growth of the Hard Seltzer market in G7 countries can also be attributed to underlying macroeconomic factors. For instance, the strong economy in these countries has led to increased disposable income, allowing consumers to spend more on premium alcoholic beverages like Hard Seltzers. Additionally, the rise of e-commerce and online platforms has made it easier for consumers to access and purchase Hard Seltzers, contributing to market growth. In conclusion, the Hard Seltzer market in G7 countries is experiencing significant growth due to changing customer preferences, evolving market trends, and local special circumstances. The increasing demand for low-calorie and low-sugar alcoholic beverages, product innovation, sustainability initiatives, and macroeconomic factors have all played a role in driving the growth of this market.
Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.
Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.
Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.
Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.
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