Westford, USA, Oct. 23, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, a pivotal trend dominating the global hard tea market is consumers' surging preference for natural and organic ingredients. This shift underscores a growing health-consciousness, with consumers actively seeking beverages that offer refreshments and align with their wellness goals.
Browse in-depth TOC on the "Hard Tea Market"
- Pages - 157
- Tables - 141
- Figures – 79
An increasing awareness is taking root among individuals, highlighting the potential positive effects of moderate alcohol consumption on overall health. This heightened awareness has led to a growing demand for alcoholic beverages, including the interest in hard tea products in the hard tea market. Moderate alcohol consumption has reduced the risk of developing various health issues, including cardiovascular diseases, diabetes, and stroke.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 2.47 Billion |
| 2030 Value Projection | USD 14.5 Billion |
| CAGR | 25% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Hard Tea Market
- AB InBev
- Anheuser-Busch Companies, LLC
- Boston Beer Company
- Constellation Brands
- Diageo plc
- E & J Gallo Winery
- FIFCO USA
- Heineken N.V.
- Kirin Brewery Company, Limited
- Mark Anthony Brands
- Molson Coors Brewing Company
- Nestle S.A.
- North American Beverage Co.
- Pabst Brewing Company
- Pernod Ricard SA
- PepsiCo, Inc.
- Phusion Projects LLC
- Stone Brewing Company
- The Coca-Cola Company
- The Joseph Company International, Inc.
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Non-alcoholic Segment is Expected to Grow in the Market Due to the Growing Inclination towards Alcohol-Free Alternatives
Non-alcoholic segment of the hard tea market has emerged as the fastest-growing sector, reflecting consumers' growing inclination towards healthier and alcohol-free alternatives, particularly in response to concerns about excessive sugar consumption.
The markets in North America currently stand as the leading market for hard tea products, and a substantial portion of this growth can be attributed to the United States. A noteworthy surge in consumer interest in healthier and low-calorie options within both the alcoholic and non-alcoholic beverage categories fundamentally propels the escalating demand for hard tea products in hard tea market.
Bottles Segment is Expected to Dominate the Market Due to its Convenience
Bottles have firmly established themselves as the prevailing packaging format for hard tea products in the hard tea market. Their dominance can be attributed to their convenience and practicality in storing and consuming beverages.
Regional markets in Asia-Pacific have emerged as the swiftest-growing hard tea market, with countries such as Japan and China demonstrating a burgeoning interest in these offerings. The remarkable growth in the APAC market can be primarily attributed to evolving consumer preferences and an escalating awareness of the myriad health benefits associated with tea.
A comprehensive analysis of the major players in the hard tea market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Hard Tea Market
- In 2023, Wild Leaf made waves in the beverage industry with an exciting announcement: introducing a novel line of organic hard teas crafted from an array of plant-based ingredients. This innovative move reflects a growing demand for healthier and more sustainable beverage options. With a commitment to flavor and environmental consciousness, Wild Leaf's new range of hard teas is poised to redefine the industry standards.
- In 2023, the competition in the hard tea market intensified as Diageo plc, a prominent player in the spirits industry, revealed its foray into the segment by launching a new line of hard teas under its renowned Captain Morgan brand. As these two beverage giants vie for consumer attention, the market is set to witness an exciting evolution in the world of hard teas.
Key Questions Answered in Hard Tea Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
Related Reports in SkyQuest’s Library:
Global Non-Alcoholic Drinks Market
Global Beverage Premix Market
Global Ice Maker Market
Global Lemonade Market
Global Specialty Coffee Market
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