Many companies have now entered the war zone of the FMB market. The hard seltzer category, now worth about $550 million, could grow to $2.5 billion by 2021, according to a UBS study. This trend also appeals to beer drinkers who are looking for something different, spirits lovers who want something lighter, and casual drinkers who don’t like strong alcohol and prefer drinks with a lower ABV. According to ForMarkets, the global RTS market is expected to reach $17.67 billion by 2025, growing at a CAGR of 7.2% from 2018to 2025, which is why companies such as White Claw, Truly, Bon & Viv, and others are capitalizing on this opportunity. Moreover, ready-to-drink beverages, or RTDs, like hard seltzer are packaged for immediate consumption at the time of purchase. Low in calories, refreshing and with a ABV comparable to most light beers, it is undeniable why the hard seltzer market is having its moment of brilliance. In addition, the development of an immense wellness market reflects that now more than ever, consumers are prioritizing lifestyle and taking control of their own well-being. According to Nielsen, Hard Seltzer is most popular among Caucasians between the ages of 21 and 44 from affluent areas, while it attracts both genders equally. The popularity of this drink has skyrocketed in recent years, and the reason is that it has entered the market at just the right time, while the product itself has attracted a wide range of consumers. Hard Seltzer is a highball drink that contains carbonated water, alcohol and often fruit flavoring.
Hard Seltzer and other Seltzer-like products are expected to combine to drive the ready-to-drink category, making it the fastest-growing beverage alcohol in the U.S. The Hard Seltzer market is growing at a spectacular rate, drawing consumers away from other alcoholic beverage categories. The US beer segment has lost share due to the rise of Hard Seltzer.
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