Hard Seltzer - Asia

The Hard Seltzer market in Asia has been experiencing significant growth in recent years. As consumer preferences shift towards healthier and low-calorie alcoholic beverages, the demand for Hard Seltzers has been on the rise.

Customer preferences: One of the key reasons for the growing popularity of Hard Seltzers in Asia is the increasing focus on health and wellness. Consumers are becoming more conscious of their alcohol consumption and are seeking alternatives that are lower in calories and sugar. Hard Seltzers, with their low alcohol content and refreshing flavors, have emerged as a preferred choice for health-conscious consumers.

Trends in the market: The Hard Seltzer market in Asia is witnessing a surge in product innovation and variety. Manufacturers are introducing new flavors and experimenting with different ingredients to cater to diverse consumer preferences. Additionally, the market is witnessing the entry of both local and international players, leading to increased competition and product offerings.

Local special circumstances: Asia is a diverse region with varying cultural and regulatory landscapes. In some countries, there may be cultural and religious factors that influence consumer preferences and consumption patterns. For example, in countries with a large Muslim population, the demand for non-alcoholic or halal-certified beverages may be higher. Additionally, regulatory frameworks and restrictions on alcohol advertising and distribution can impact the growth and availability of Hard Seltzers in certain markets.

Underlying macroeconomic factors: The economic growth and rising disposable incomes in many Asian countries have contributed to the increasing demand for premium and niche products, including Hard Seltzers. As consumers become more affluent, they are willing to spend more on higher-quality and unique beverages. Furthermore, urbanization and changing lifestyles have also played a role in the growth of the Hard Seltzer market. As more people migrate to cities and adopt Westernized lifestyles, they are exposed to new trends and products, including Hard Seltzers. In conclusion, the Hard Seltzer market in Asia is experiencing significant growth due to shifting consumer preferences towards healthier alcoholic beverages, product innovation and variety, local special circumstances, and underlying macroeconomic factors such as economic growth and changing lifestyles. As the market continues to evolve, it is expected to present lucrative opportunities for both local and international players in the region.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.