Don’t count out hard seltzers, at least according to one industry consulting firm. Although hard seltzers have generally gone through a rather quick boom/bust cycle, the category is forecast to grow globally at a compound annual growth rate of 8.2% up until 2028.
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The category, which was fueled by the introduction and quick success of White Claw in 2016 and followed by Boston Beer’s Truly (among many others), has gone through a decline over the last year as consumers moved on to other choices such as RTD’s, canned wine and even non-alcohol alternatives.
But the report by Insight Partner’s, a global research and consulting company, highlights the fact that today’s emerging drinkers are still interested in hard seltzers because they are low-calorie and low ABV drinks that come in a diverse range of flavors.
The report also notes that the strongest market for hard seltzers growth currently is Asia.
More details here.