Lately it seems as though everyone is trying to get a piece of the increasingly lucrative hard seltzer market. Monster Beverage Corp. (NASDAQ: MNST), makers of the popular Monster Energy Drink, is the latest company rumored to be considering a foray into sparkling alcoholic beverages.
Analysts predict that an alcoholic Monster drink could potentially generate $76 million in sales. The hard seltzer market is certainly booming as of late. Currently a $3.5 billion industry, Goldman Sachs predicts that hard seltzer sales could increase to $20 billion by 2025.
Stifel analyst Mark Astrachan has high hopes for the potential of a hard Monster Energy drink. “We think the success of new entrants suggests an opportunity for Monster given its strong track record of innovation, including, importantly, expanding usage occasions with new products,” Astrachan said.
While the market is currently dominated by Mark Anthony’s White Claw and Boston Beer’s Truly, other companies, including soft drink makers, have been quick to jump on the bandwagon. Both Coca-Cola’s Topo Chico brand and Talking Rain’s Sparkling Ice have recently announced their own hard seltzers. Topo Chico’s alcoholic line will launch later this year in select Latin American cities with the US to follow in 2021, and Sparkling Ice Spiked is currently available in select test markets as of this month.
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