For the 52 weeks ending July 16, the combined malt- and spirits-based hard seltzer segment reached $4.263 billion, according to Jefferies equity research managing director Kevin Grundy. In the last four weeks, spirits-based seltzer’s share of the business has reached 9.1%. Malt- and sugar-based hard seltzers account for 90.9% of the segment – and their sales are declining.
Distributors expect the hard seltzer segment to end the year with 155% growth and come close to doubling in 2021 with much of the growth coming from leading brands, White Claw (Mark Anthony Brands) and Truly Hard Seltzer (Boston Beer Company), according to a report from Goldman Sachs Equity Research arm.
Nearly 60% of Drizly users ages 21-26 plan to drink hard seltzer this summer, the on-demand e-commerce marketplace and delivery platform for alcohol beverages, found during its second annual consumer survey.
Boston Beer Company reported strong earnings during its third-quarter earnings call Tuesday evening. The company reported depletions (sales-to-retailers) growth of 30%, 24% of which came from Boston Beer’s core brands and 6% of which came from Dogfish Head offerings.
Truly Spiked & Sparkling today announced the launch of its newest style, Truly Spiked & Sparkling Lemon & Yuzu, now available nationwide. Truly Spiked & Sparkling has caught fire amongst drinkers and has quickly become the go-to spiked sparkling water, a category poised to be this spring and summer’s biggest alcohol trend.
