Asia Pacific Hard Tea Market Size, Share & Industry Trends Analysis Report By ABV (2%-5% and More than 5.1%), By Distribution Channel (Supermarket/Hypermarket, Online, and Others), By Flavor, By Country and Growth Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Asia Pacific Hard Tea Market
Market Report Description
The Asia Pacific Hard Tea Market would witness market growth of 24.6% CAGR during the forecast period (2022-2028).
Two lipoproteins in the body transport cholesterol all through the body. Low-density lipoprotein and high-density lipoprotein (HDL) are two types of lipoproteins. Because it delivers cholesterol to cells all over the body, LDL is known as the bad lipoprotein. HDL, on the other hand, is known as the good lipoprotein because it transfers cholesterol from body cells to the liver, where it is eliminated. When the body has too much LDL, it can grow up in the arteries, causing waxy deposits known as plaques. This can result in issues, like heart failure and stroke.
Alcohol is an integral part of Chinese culture, and its consumption has long been encouraged across the country. People who are stressed, anxious, or depressed may consume more alcohol. During the COVID-19 outbreak, more people experienced anxiety and depression symptoms. In addition, according to the National Library of Medicine, alcohol consumption reduced marginally during COVID-19 from 3.5 drinks to 3.4 drinks, p = 0.035 as compared to before COVID-19. The majority of alcoholics (78.7%) were men. Men had more drinks per week (4.2 and 4.0 vs. 1.3 and 1.2 drinks), had a greater percentage of heavy drinking (8.1 and 7.7% vs. 4.4 and 2.7%), and had more drinking days per week before and after COVID-19 (2.1 and 2.1 vs. 1.0 and 0.9 days). Males also exhibited higher rates of risky drinking (43.2 vs. 9.3%) and catastrophic drinking (70.2 vs. 46.6%) than females.
Therefore, the demand for a healthy alternative for alcohol content is significantly required in this country. This factor is estimated to spur the demand for hard tea across the region. Hence, the growth of the regional market is estimated to expedite in this region.
The China market dominated the Asia Pacific Hard Tea Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $538.4 million by 2028. The Japan market is anticipated to grow at a CAGR of 23.8% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 25.3% during (2022 - 2028).
Based on ABV (%), the market is segmented into 2%-5% and More than 5.1%. Based on Distribution Channel, the market is segmented into Supermarket/Hypermarket, Online, and Others. Based on Flavor, the market is segmented into Lemon, Raspberry, Peach, Orange, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Hard Tea Market is Projected to reach USD 9 Billion by 2028, at a CAGR of 23.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Molson Coors Beverage Company, The Boston Beer Company, Inc., The Pabst Brewing Company (Blue Ribbon Intermediate Holdings, LLC), Two Chicks Drinks, LLC, Blue Point Brewing Company (Anheuser-Busch InBev SA/NV), Loverboy, Inc., Bold Rock Hard Cider (Craft Revolution LLC), Crook & Marker LLC, Nude Beverages, and Cisco Brewers, Inc.
Scope of the Study
Market Segments Covered in the Report:
By ABV (%)
- More than 5.1%
By Distribution Channel
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Molson Coors Beverage Company
- The Boston Beer Company, Inc.
- The Pabst Brewing Company (Blue Ribbon Intermediate Holdings, LLC)
- Two Chicks Drinks, LLC
- Blue Point Brewing Company (Anheuser-Busch InBev SA/NV)
- Loverboy, Inc.
- Bold Rock Hard Cider (Craft Revolution LLC)
- Crook & Marker LLC
- Nude Beverages
- Cisco Brewers, Inc.
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