Hard Tea Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Hard Tea Market was worth US$ 2,000.0 Mn and is expected to grow at a CAGR of 25.2% over the forecast period. The market is expected to hit US$ 18,900.0 Mn by 2032 end.

Customers indicate a rising preference for purchasing beverages with less alcohol. As a result, sales of hard Tea are rising. Hard tea manufacturers experiment by blending vodka and wine with berries or citrus fruits. As a result, people are becoming more interested in purchasing hard teas.

Market Dynamic

DEMAND FOR BEVERAGES WITH LOW ALCOHOL CONTENT SPURS THE MARKET

The demand for hard Tea is anticipated to increase in the next years due to the testing of new flavors and the penetration of regional and international players across various geographical regions. Hard tea firms are also strengthening their social media presence to reach a larger client base.

Due to the testing of new flavors and the penetration of regional and international companies across various geographical regions, it is projected that the demand for hard Tea will rise over the next years. Hard tea companies also enhance their social media presence to attract a wider clientele.

To provide consumers with a taste of hard teas supplied locally, producers are concentrating on launching region-specific hard teas. Future demand for hard teas is anticipated to increase as a result.

Hard tea consumption lowers the risk of diabetes, heart disease, and stroke. Companies that sell hard teas provide 100-calorie, non-GMO, and preservative-free varieties. As a result, the hard tea market is positively impacted by its health benefits.

STRINGENT GOVERNMENTAL REGULATIONS HAMPER THE MARKET GROWTH

As hard Tea is still a relatively new idea in several geographical areas, hard tea makers are struggling with production volume and distribution. Consumers have a lot of concerns about the amount of alcohol in teas as well. To appeal to a larger consumer base, hard tea makers seek to lower the alcohol concentration and increase the strength of the Tea’s flavor despite the wide variety of ABVs available on the market.

Market Segments Covered in Report

By ABV:

• Hard Tea containing 2.0-5.0% ABV
• Hard Tea containing More than 5.1% ABV

By Flavor:

• Lemon
• Raspberry
• Peach
• Orange
• Other Flavor

By Distribution Channel:

• Supermarkets/Hypermarkets
• Online Distribution Channels
• Other Distribution Channels

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why are Hard Tea containing ABV 2-5% projected to have the biggest market share?

The 2-5% segment obtained hard Tea’s biggest global revenue share in 2021. The rising demand for alcoholic beverages with low alcohol concentration is to blame for the segment’s increased growth. An increase in health-conscious consumers drives the drink market with an alcohol concentration of less than 5%.

Which flavor is the most favored globally??

Hard tea producers are experimenting with various tastes to appeal to consumers’ taste buds. Because of this, businesses now combine two tastes and use organic flavors to make their hard Tea stronger. Peach is anticipated to become more popular among the many tea tastes in the future years. It is due to its adaptability.

Peaches may be pressed and fermented, making a tasty summer beverage. Therefore, throughout the assessment period of 2022–2032, peach-flavored hard Tea is anticipated to earn close to 50.0% of the market share of the hard tea market.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• The hard tea market’s highest revenue share of 40.0%  in 2021 came from North America. Major market participants drive the region’s demand for hard teas. As a result of the epidemic, several new hard tea brands have appeared in the area.
• Local producers provide beverages with low alcohol content. Consequently, the expansion of the local hard tea market is encouraging.
• The increasing trend of alcohol consumption in the region is expected to increase the demand for hard Tea in European countries. Consumers are shifting toward consuming alcohol not only as a regular drink but also as an infused beverage, such as hard Tea mixed with green Tea, Black Tea, and other fruit flavors as demand dictates.

Competition Analysis

Some of the key developments that have taken place in the Hard Tea Market include:

• In November 2020, With the introduction of hard iced Tea, White Claw made its debut. The firm introduced the hard Tea in a mixed 12-pack with four distinct flavors: lemon, mango, peach, and raspberry. The 5% ABV in the hard teas makes them suited for a wider audience.
• In March 2021, Truly Hard Seltzer Twisted Tea Hard Iced Tea formed agreements with 100 Thieves Organizations, a North American business. Through social media campaigns, co-branded content live streams, and giveaways, the partnerships will aid in the expansion of the companies.

A list of some of the key suppliers present in the market are:

• Molson Coors Beverage Company
• The Boston Beer Company, Inc.
• The Pabst Brewing Company (Blue Ribbon Intermediate Holdings, LLC)
• Two Chicks Drinks, LLC
• Blue Point Brewing Company (Anheuser-Busch InBev SA/NV)
• Loverboy, Inc.
• Bold Rock Hard Cider (Craft Revolution LLC)
• Crook & Marker LLC
• Nude Beverages
• Cisco Brewers, Inc.

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.

• Report Includes

  Market Size Data

  • Global market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and region
  • Regional level market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and country
  • Country level market share data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment
  • Market attractiveness analysis based on market share index and CAGR index for each of the segments and regions
  • Incremental dollar opportunity generated in the forecast period would be indicated
  • Key Takeaways, Recommendations, and key investment pockets for the relevant segments would be highlighted

  Market Background

  • Macroeconomic factors that impact the market developments
  • Market dynamics (Drivers, Restraints, Opportunities) that positively or negatively influence market growth
  • Supply Side and Demand Side trends – trends witnessed from buyers and suppliers side
  • Production and Consumption Gap Analysis – analysis of gap between production and consumption in any geography to fulfil unmet demand
  • Trade analysis and analysis of key supply and demand hubs
  • Identification of hotbed opportunities existing in the market
  • Porter’s and PEST analysis to understand the business environment of the geography
  • Regulatory scenario – Identification of key sector specific and trade regulations, and assessment of whether it helps or hinder market development & growth

  Pricing Analysis

  • Regional-level product pricing analysis to set and benchmark your current or future product offerings across each product type
  • Historical and projected pricing trends of the product which helps in determining the product’s price and/or services beneficial for companies product lifecycle
  • Cost teardown analysis and key factors impacting pricing

  Value Chain Analysis

  • Country-wise list of raw material suppliers
    • Raw material price trends and buyers’ sentiment
    • Overview of Intelligent Sourcing Technique
    • Raw material procurement requirements
    • Vendor selection criteria
  • Country-wise list of product manufacturers
  • Country-wise list of distributors/traders
  • Country-wise list of end-users
    • End-Users/Customers consumption mapping
    • Key End-Users/Customers client list
  • Country-wise list of other key channel partners
  • Average profitability margins
  • Regional value chain dynamics

  Competition Analysis

  • Market shares and production capacities of key players
  • Tier structure analysis of market
  • Comprehensive competition dashboard representing the top 10-15 players in the market
  • Individual company profiles of top 15 to 20 manufacturers
    • Business Overview
    • Product Portfolio
    • Key Financials
    • Recent Developments
    • SWOT Analysis
    • Strategies

Country Coverage
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific

Why Choose CVC Market Research?;

• Specialized market research company
• Impeccable and deep industry expertise
• Wide range of offerings
• Robust research methodology and statistical models with least deviation
• Extensive reports and full-service consulting
• Expert panel sanctioned industry outlook
• Growth dynamics for calculated investments
• Tri-level quality guarantee
• 6 months unlimited post-sales support
• Regular planned and contracted report updates