The global hard tea market is expected to register a CAGR of 25.25% and will surpass the market value of US$ 19 Billion by 2032 from US$ 2 Billion from 2022. Thus, the global hard tea market is expected to create an absolute dollar opportunity of US$ 17 Billion in the forecast years 2022-2032.
From 2021 to 2022, a Y-o-Y growth rate of 25% is expected, growing from its previous valuation of US$ 1.6 Billion.
Consumers are showing a growing preference towards investing in beverages that have lower alcohol-based content. This has led to the increasing sales of hard tea. Manufacturers of hard tea are experimenting with hard tea by adding vodka and wine with citrus fruits or berries. This, in turn, is attracting consumers to invest in hard teas.
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What is the Intensity of the Competition in the Hard Tea Market?
Key players in the global hard tea market are The Boston Beer Company , Pabst, Twisted Tea, Anheuser-Busch Companies LLC (Blue Point Brewing) , Old Brew’s Easy Tea, Cisco Brewers , White Claw Hard Seltzer and Nude Beverages. Some of the recent developments in hard tea market are :
- In November 2020, White Claw made a debut with launching hard iced tea. The company launched the hard tea in a mixed 12 pack that consists of four different flavors: lemon, mango, peach and raspberry. The hard teas consist 5% ABV making them suitable for a larger consumer base.
- In March 2021, 100 Thieves Organizations, a company based in North America has announced partnerships with Truly Hard Seltzer Twisted Tea Hard Iced Tea. The collaborations will help the companies to grow through social media campaigns, co-branded content livestreams and giveaways.
Key Segments Covered in the Hard Tea Market Report
Hard Tea Market by ABV % :
- Hard Tea containing 2.0-5.0% ABV
- Hard Tea containing More than 5.1% ABV
Hard Tea Market by Flavor :
- Lemon Hard Tea
- Raspberry Hard Tea
- Peach Hard Tea
- Orange Hard Tea
- Other Flavor Hard Tea
Hard Tea Market by Distribution Channel :
- Hard Tea Sales via Supermarkets/Hypermarkets
- Hard Tea Sales via Online Distribution Channels
- Hard Tea Sales via Other Distribution Channels
Hard Tea Market by Region :
- North America Hard Tea Market
- Latin America Hard Tea Market
- Europe Hard Tea Market
- Asia Pacific Hard Tea Market
- Middle East & Africa Hard Tea Market