Just like the growing popularity with craft brews, the liquor industry is seeing an increased affinity for Flavored Malt Beverages (FMBs). So, what exactly are these tasty refreshments? FMBs are alcoholic beverages which by regulation must be made of 25 percent malt and 7.5 pounds of hops per 100 finished product barrels. Through processing, as much malt, flavor, and color as possible is removed (characteristics which are typical of beer) before different flavorings and colorings are added.
The target market size of hard seltzer is estimated to be 172 million cases in the United States in 2021. In recent years, hard seltzer gained tremendous popularity in the United States. Owing to its range of diverse flavors and due to its low-calorie content, American consumers have increasingly opted for hard seltzer as their choice of alcoholic beverage. Between 2018 and 2019 alone, on-premises sales of hard seltzer grew more than five-fold, from a mere $210 million dollars in 2018 to a figure exceeding $1 billion dollars a year later. Hard seltzer brands were the only flavored malt beverages to witness triple-digit growth in sales in the United States in 2020.1