Hard Seltzer Watermelon Market
Hard Seltzer Watermelon Market - Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 - 2031
Hard Seltzer Watermelon Market Segmented By ABV Content such as 1.0% to 4.9%, 5.0% to 6.9% having Foodservice Industry, Retail/Household as End-users
Hard Seltzer Watermelon Market Forecast and CAGR
According to the latest research by Persistence Market Research, the hard seltzer watermelon market is set to have a steady growth during 2021-2031. The demand for hard seltzer watermelon has increased owing to the growing awareness among consumers about the health benefits.
The nutritional and healthy factor in the watermelon flavor is driving the increasing sales of the hard seltzer watermelon flavor market. Many companies around the world are offering various flavors and coming up with new product innovations in the hard seltzer flavor segment, which provides wide opportunities for the key players.
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What is Driving Demand for Hard Seltzer Watermelon Market?
Hard seltzer is a type of carbonated drink which consists of a blend of alcohol and various types of fruit flavourings. It is mostly packaged in metal cans for convenience and portability. The fruit flavour offerings get varied according to the brand, region or the culture.
The flavors ranges from the basic ones like watermelon, lime and black cherry to more elevated flavor profiles that includes lemon agave hibiscus, melon basil, and many more. Most of the hard seltzer are made with fermented sugar cane along with added fruit flavouring. One such fruit flavor which is currently gaining popularity is the hard seltzer watermelon flavor.
An increase in the rate of alcoholic beverages is likely to drive the market growth of hard seltzer watermelon flavor. Other factors that drive the market of hard seltzer includes change in lifestyle and ever-growing preferences of the consumers.
Due to the growing popularity of the flavored alcoholic beverages among the younger and adult generation, there would be an increased sales for hard seltzer watermelon flavor.
The introduction of novel fermentation techniques by numerous businesses, as well as the development of sour and fruity tastes, sugar combinations, new creative flavours and new ingredients, are the major drivers driving the global seltzer market. There is a growing appeal for strong carbonated drinks among the younger and the millennial population, which is expected to bolster the sales of watermelon hard seltzer.
The watermelon hard seltzer is witnessing a steady growth in the alcohol industry due to the growing consumer preference for low-alcohol beverages. The seltzer fruit flavored drinks have low alcohol, calorie, and carbohydrate content than the similar sized beers or other alcohols.
Thus, these products became popular among the consumers who prefer to have alcoholic beverage while restricting their calorie or carbohydrate intake, in order to reduce weight and mitigate other health issues. Moreover, the usages of fermented sugars instead fermented grains make the watermelon hard seltzer a gluten-free drink, making it suitable for people having gluten allergy.
The growing impact of western culture, rapid urbanization, changing consumer preferences in evolving economies and changing consumer perceptions of alcohol consumption await the growth of the global flavored hard seltzer market.
The hard seltzer watermelon has a niche market as it is in the nascent stage, but growing popularity and increasing marketing efforts by the companies would increase the product awareness and create opportunities for the key players in this market segment.
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What is the effect of Covid-19 on Hard Seltzer Watermelon Market?
The continuation of covid-19 had adverse influence and slowed down the growth of hard seltzer watermelon market. Thus, there is a significant drop in the sales of the hard seltzer water melon across the world due to various travel restrictions and lockdown. There is an imbalance in demand and supply due to disruptions in the supply chain of the product.
Major manufacturers have suspended product launches and assembly operations in emerging markets like China, India and others. In addition, the producers and the consumers buying behaviour have also been negatively influenced due to the ongoing pandemic.
The pandemic also resulted in closure of various restaurants, bars, and hotels across the world, which limited the sales of hard seltzer watermelon flavor, since it was not easily accessible to the consumers. Moreover, the decrease in the tourism industry across the world also affected the sales of the product across the global market, thus the consumption of the hard seltzer flavored drinks decreased along with the decreased footfall of the tourists.
The lock down phase due to the spread of corona virus, poses as the biggest challenges for the manufacturers and distributors to expand the hard seltzer watermelon market in the unexplored region. However, the change in lifestyle and people’s interest in buying unique falvored hard seltzer from online retails are some of the factors due to which the hard seltzer watermelon market is experiencing stable growth.
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North America Demand Outlook for Hard Seltzer Watermelon Market
The growth of the hard seltzer watermelon market is bolstered by developed nations such as the US, Canada, and others in the North American region. New product innovation is also used by major players in North America, with an emphasis on new product releases.
The high presence of supplier and manufacturers in the North American region is another reason for an increase in the market share of the hard seltzer watermelon market as the availability of flavored hard seltzer is increased due to the high presence of suppliers and manufacturers.
Moreover, a growing number of companies have entered the market, resulting in a wide range of items being available. The manufacturers were also involved in innovate marketing campaigns to create a wider penetration. Thus, the hard seltzer watermelon market is a lucrative business opportunity for key players in the U.S. marketplace for both production and distribution.
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Asia Pacific Demand Outlook for Hard Seltzer Watermelon Market
The market growth of the hard seltzer watermelon market in the Asia Pacific region is anticipated to grow at a very fast pace. The factors which will drive the growth of the hard seltzer watermelon market in the Asia Pacific are the high rate of urbanization and increasing population.
The middle-class population of this region prefers consumption of low alcohol beverage often and this is anticipated to have a positive impact on the market growth of hard seltzer watermelon flavor.
In this Asia-Pacific region, hard seltzer flavored drinks like watermelon flavor and others are considered to be a healthier alternative to other alcoholic beverages. Many companies in the Asia Pacific region are also focusing on different strategies like partnerships, mergers, acquisitions, and collaborations to increase their market share.
Development in the distribution networks of flavored hard seltzer is also anticipated to boost the market over the forecast period. The rise in consumer purchasing power in this region is likely to have a beneficial impact on growth of the hard seltzer watermelon market.
Who are the Key Manufacturers and Suppliers of Hard Seltzer Watermelon?
Some of the leading manufacturers and suppliers of hard seltzer watermelon include
- Molson Coors Beverage Company
- White Claw
- High Noon
- Mighty Swell
- Island Bay
- Saintly Hard Seltzer
- Cape May Brewing Company
By ABV Content
- 1.0% to 4.9%
- 5.0% to 6.9%
- Foodservice Industry
By Distribution Channel
- Business to Business
- Business to Consumer
- Speciality Stores
- Convenience Stores
- Online Retail
Based on Region
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Hard Seltzer Watermelon Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.