Hard Seltzer - India

The Hard Seltzer market in India has been experiencing significant growth in recent years, driven by changing consumer preferences and a growing demand for low-calorie and healthier alcoholic beverages.

Customer preferences: In India, there has been a noticeable shift in consumer preferences towards healthier and low-calorie alcoholic beverages. With an increasing focus on health and wellness, many consumers are looking for alcoholic options that align with their lifestyle choices. Hard Seltzers, with their low-calorie content and refreshing flavors, have emerged as a popular choice among health-conscious consumers. Additionally, the younger generation, who are more experimental and open to trying new products, have also contributed to the growing demand for Hard Seltzers in India.

Trends in the market: One of the key trends in the Hard Seltzer market in India is the introduction of local flavors and ingredients. Indian consumers have a strong affinity for traditional flavors and ingredients, and companies have capitalized on this by offering Hard Seltzers infused with local fruits and spices. This localization of flavors has not only attracted consumers but has also helped in differentiating brands in a crowded market. Another trend in the market is the increasing availability of Hard Seltzers in various channels. Initially, Hard Seltzers were primarily available in high-end bars and restaurants. However, as demand has grown, they are now becoming more widely available in retail stores, online platforms, and even convenience stores. This increased accessibility has further fueled the growth of the Hard Seltzer market in India.

Local special circumstances: India has a diverse culture and a rich tradition of alcoholic beverages. However, the market for low-calorie and healthier alcoholic beverages has been relatively untapped until recently. This has created a unique opportunity for Hard Seltzers to enter the market and cater to the changing preferences of Indian consumers. Additionally, the growing middle-class population and increasing disposable income have also contributed to the growth of the Hard Seltzer market in India.

Underlying macroeconomic factors: The growing popularity of Hard Seltzers in India can also be attributed to underlying macroeconomic factors. The country's economy has been growing steadily, leading to an increase in disposable income and consumer spending. This has created a favorable environment for the introduction of premium and innovative alcoholic beverages like Hard Seltzers. Furthermore, the increasing urbanization and Westernization of Indian cities have also influenced consumer preferences and led to the adoption of global trends, including the consumption of Hard Seltzers. In conclusion, the Hard Seltzer market in India is experiencing significant growth due to changing consumer preferences, the introduction of local flavors, increasing availability, and underlying macroeconomic factors. As more consumers prioritize health and wellness, the demand for low-calorie and healthier alcoholic beverages like Hard Seltzers is expected to continue to rise in the coming years.

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.