The biggest spirits stories of 2020

14th January, 2021 by Nicola Carruthers

Hard talk

The burgeoning popularity of hard seltzers could see the category reach sales of US$14.5 billion by 2027. US‐based market research firm Grand View Research expects the hard seltzer category to grow by a compound annual growth rate (CAGR) of 16.2% from 2020 to 2027.

Grand View Research predicts the sector will witness substantial growth due to the increasing popularity of low‐alcohol products among millennials in developed markets. Grand View expects markets including the US, Australia and Canada will be key to the sector’s growth.

According to the research firm, hard seltzers with an ABV of 1% to 4.9% are expected to register the fastest growth, as these products will attract health‐ conscious consumers. The Asia Pacific region is predicted to register the fastest growth, at a CAGR of 17% between 2020 and 2027. On‐trade sales are forecast to outperform the off‐trade, with a CAGR of 16.5% in the seven years to 2027.

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