Hard Tea Market Expanding At A CAGR 24.7% For The Forecast Period From 2022 To 2030

Posted by Neha Bora on October 21st, 2022

San Francisco, 20 Oct 2022: The Report Hard Tea Market Size, Share & Trends Analysis Report By ABV (%) (2%-5%, More Than 5.1%), By Flavor (Lemon, Raspberry, Peach, Orange), By Distribution Channel (Supermarket/Hypermarket, Online), By Regions, And Segment Forecasts, 2022 - 2030

The global hard tea market size is expected to reach USD 14.50 billion by 2030, registering a CAGR of 24.7% over the forecast period, based on a new report by Grand View Research, Inc. Consumers’ shift from unhealthy drinking and eating habits toward low-calorie food and beverages is driving the demand for hard teas. Brands operating in the hard tea market are launching beverages that have low-alcohol content. Growing awareness towards reducing alcohol intake is acting as an opportunity for manufacturers to provide beverages with botanical ingredients to provide a healthier image to spiked hard teas.

The Covid-19 pandemic has accelerated the need for online retail purchases in all sectors. Nowadays, customers are willing to purchase alcoholic beverages online. It is an opportunity for manufacturers to increase their market share in the industry. The stay-at-home orders by governments in several parts of the world accelerated the need for companies to organize and scale up their businesses.

For instance, in the U.S., numerous liquor and small shops enabled online delivery services for their customers. For instance, Drizly helped in improving the count of retail partners for smaller stores from 1,800 to 4,000 by the end of 2020. States such as Arkansas, Georgia, and Ohio have legalized the delivery of alcohol. Further, Instacart announced the same-day delivery of alcohol from 180 stores by partnering with Meijer. It is expected to expand its presence in more than 75% of the households in the U.S.

Access Research Report of Hard Tea Market https://www.grandviewresearch.com/industry-analysis/hard-tea-market-report

Hard Tea Market Report Highlights

  • Based on ABV (%), the hard tea market is categorized into 2%-5% and more than 5.1%. The 2%-5% segment held a majority of the share in 2021 due to the high demand for low-content alcoholic beverages
  • Based on flavor, the hard tea market is characterized by lemon, raspberry, peach, orange, and others. The lemon segment held a majority of the share in 2021 owing to the rising demand for citrus flavors. The citrus flavor complements alcoholic beverages as they help in creating a refreshing beverage that is preferred by a large consumer base. The growing demand for margarita, mojito, and ready-to-drink cocktails is also driving the demand for lemon-flavored drinks
  • Based on the distribution channel, the hard tea market is characterized by supermarket/hypermarkets, online, and others. The supermarket/hypermarket segment dominated the market and accounted for 60.1% of the market share in 2021 owing to the wide presence of product availability in hypermarkets
  • In 2021, North America held a majority of the market share owing to increasing disposable income, and the presence of key market players in the region

List of Key Players in Hard Tea Market

  • The Boston Beer Company
  • Pabst
  • Two Chicks Drinks, LLC.
  • Cisco Brewers
  • Blue Point Brewing (Anheuser-Busch InBev)
  • LoverBoy Inc.
  • Double Brew, LLC
  • Crook & Marker LLC
  • Nude Beverage
  • Molson Coors Beverage Company
  • Bold Rock Hard Cider

Access Press Release of Hard Tea Market @ https://www.grandviewresearch.com/press-release/global-hard-tea-market

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Neha Bora

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Neha Bora
Joined: September 16th, 2019
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