This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
Vodka seltzers could be worth $2bn by 2031
The global vodka seltzer category is expected grow by 13.8% between 2021 and 2031, according to a new report.
Allied Market Research has published a report titled Vodka Seltzer Market by Type, (ABV Less Than 4.6%, ABV More Than 4.6%), by Packaging (Metal Cans, Bottles), by Distribution Channel (On-trade, Off-trade): Global Opportunity Analysis and Industry Forecast, 2021-2031.
The report looked at key players in the global vodka seltzer market, including Smirnoff maker Diageo, Absolut producer Pernod Ricard, White Claw owner Mark Anthony Group, and High Noon Spirits.
The findings revealed that the vodka seltzer market was valued at US$472.3 million in 2021, and is estimated to grow by a compound annual growth rate (CAGR) of 13.8% to US$2 billion across 10 years, by 2031.
The vodka seltzer market is expected to receive a boost from factors including rapid urbanisation, and changes in consumer perception towards alcohol, taste and health.
The research firm also found that Covid-19 had a negative effect on the category, but in post-pandemic times it will ‘grow at a significant rate’.
Plus, while vodka seltzers with an ABV of more than 4.6% accounted for ‘more than two-thirds’ of the category’s market growth in 2021, vodka seltzers with a lower ABV are projected to experience the highest CAGR growth of 14.5% between 2022-2031.
This is due to the ‘increased consumer preference for low-alcoholic drinks’, the firm said. Regarding packaging, metal cans are expected to continue to dominate the market for the forecast period.
Yet, the bottles segment is predicted to witness a CAGR growth of 14.9% between 2022-2031, led by the format being ‘convenient and cost-effective’.
North America was the largest market for the vodka seltzers in 2021, accounting for four-fifths of the segment’s consumers, and this is expected to continue to 2031.
The Asia Pacific market is likely to show the fastest CAGR of 17.2% during the forecast period.
Last month, SunnyD vodka seltzer launched in the US.