Hard Seltzer Is Here to Stay -- At Least Boston Beer Hopes So
Forget the "summer of seltzer" -- 2019 is sure to be remembered as the year of seltzer for the beer industry. Things have gotten so bad that Molson Coors (NYSE: TAP) doesn't want to be called a brewer anymore and Boston Beer (NYSE: SAM) now makes more hard seltzer than it does beer. But there's good reason: Hard seltzer continues to grow at triple-digit rates while beer is down or at best flat most years.
Data from industry research firm The IWSR shows seltzer now accounts for 2.6% of all alcoholic beverages in the U.S. and it's already bigger than vodka. By 2023, it expects hard seltzer production to triple again from 82.5 million 9-liter cases to over 281 million cases.
That sort of growth is why many analysts believe hard seltzer isn't just a fad, but rather a trend. And as Boston Beer commits more resources to it, it's hoping it stays that way.
Source Fool.com
