Friday 19 August 2022

Hard tea market will reach a market value of US$2 billion in 2022

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ROCKVILLE, MD, USA – The global hard tea market garnered a market value of US$ 1.6 Billion in 2021 and is expected to accumulate a market value of US$ 2 Billion in 2022. The hard tea market is expected to surpass a market value of US$ 19 Billion by registering a CAGR of 25.25% in the forecast period 2022-2032.

The growing inclination towards hard teas is owing to the lesser alcohol content, fruitful flavors and strong aroma. These insights are based on a report on Hard Tea Market by Fact.MR.

Manufacturers of hard teas are experimenting with a variety of flavors and combining the same with vodka, beer and wine. Hard tea companies are understanding and analyzing the taste buds of consumers and offering different hard tea flavors that suit a wider range of audience.

The health benefits of consuming hard tea such as reducing the risk of heart diseases, stroke and diabetes are positively influencing the sales of hard teas. Moreover, manufacturers of hard teas are focusing on offering region specific hard teas that will suit the taste buds of consumers. All these factors are expected to bolster the demand for hard teas in the upcoming years.

Key Takeaways from Market Study:

  • The global hard tea market is expected to garner a market value of US$ 19 Billion by registering a CAGR of 25.25% in the forecast period 2022-2032
  • By flavor, peach flavored hard tea expected to hold nearly 50% market share for hard tea.
  • By ABV, 2% to 5% ABV expected to hold more than 45% market share for hard tea.
  • The hard tea industry expected to register a CAGR of 7% throughout the U.S.
  • The hard tea industry expected to register a CAGR of 9% market share throughout Germany.

“The demand for hard tea is expected to grow owing to its health benefits and lower alcohol content. The organic flavors of hard tea are attracting a wider consumer base of all age groups”, states a Fact.MR analyst
Competitive Landscape

Key players in the global hard tea market are The Boston Beer Company , Pabst, Twisted Tea, Anheuser-Busch Companies LLC (Blue Point Brewing) , Old Brew’s Easy Tea, Cisco Brewers , White Claw Hard Seltzer and Nude Beverages.

Some of the recent developments in hard tea market are:

  • In May 2022, Tea West, a new hard tea brand announced that its products will be launched across various stores in the U.S. the hard tea is made of zero sugar and consists 100 calories that is infused with big fruit flavors. The hard tea will be launched in North and South Carolina, Arizona, Florida, Georgia and other regions.
  • In June 2022, Hard seltzer start-up Bozu introduced a carbonated and sugar-free iced tea with a dash of vodka in Dutch and Belgian markets. The company is focusing their hard tea portfolio in Netherlands. The hard iced tea is present in lemon, ginger and peach flavors.

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