In terms of revenue, the Global Canned Alcoholic Beverages Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 21.3% from 2023 to 2030.
A factor contributing to the growth of this market is the increasing popularity of alternative packaging formats for alcoholic beverages. Traditionally, alcoholic drinks were primarily packaged in glass bottles, but the emergence of canned options has offered consumers more variety and choice. Cans provide several advantages over bottles, including being lighter, more durable, and easier to recycle. In addition, canned alcoholic beverages have also gained traction among health-conscious consumers.
Many canned alcoholic beverages are marketed as low-calorie or low-sugar alternatives to traditional cocktails or beers. This has attracted a segment of consumers who are looking for healthier options without compromising on taste. Furthermore, the Wine, traditionally packaged in glass bottles, is now being offered in convenient and portable cans. This innovation has allowed wine producers to reach a wider consumer base and expand their market share. Canned wine has become particularly popular among millennials and younger consumers, who are drawn to its convenience, affordability, and trendy image.
Key Highlights from Report
- Based on Product, the Hard Seltzers segment dominates the Canned Alcoholic Beverages market with the maximum market share and will continue to dominate during the projection period.
- Based on the Distribution Channel, the Liquor Stores segment dominates the Canned Alcoholic Beverages market with the maximum market share and will maintain the same during the projection period.
- Based on Alcoholic Content, the Flavored alcoholic beverages is expected to mention largest market growth during the forecast period.
- Based on region, North America holds the significant market share within the Canned Alcoholic Beverages market and will continue to dominate during the forecast period.
Consumers are becoming more health-conscious and seeking low-calorie, low-sugar, and gluten-free alternatives to traditional alcoholic drinks. Canned alcoholic beverages, such as hard seltzers and canned wine, have gained popularity as they offer lighter options with fewer calories and lower alcohol content. According to industry reports, the U.S. hard seltzer market alone reached a value of $4.4 billion in 2020, growing by 150% compared to the previous year.
Furthermore, millennials have shown a strong preference for canned alcoholic beverages due to their innovative and trendy nature. The younger generation favors brands that align with their values of sustainability, authenticity, and experiential marketing. Many canned alcoholic beverage brands have successfully targeted millennials by using unique marketing strategies, collaborating with influencers, and creating aesthetically pleasing packaging. Data from the Beverage Information Group shows that millennials account for nearly 60% of hard seltzer consumption.
North America is accounted a noteworthy development of the market in 2022. One of the key reasons for the growth of canned alcoholic beverages is the convenience they offer. Cans are easy to carry and can be consumed directly from the packaging, eliminating the need for glassware or additional serving utensils. This makes them popular for outdoor activities, such as picnics, barbecues, and sporting events. In addition, the availability of canned alcoholic beverages has increased owing to the strong presence of distribution channels like convenience stores and e-commerce platforms in this region. Convenience stores provide easy access to these products, while e-commerce platforms allow consumers to purchase them from the comfort of their homes. This increased accessibility has contributed to the growth of the market in this region.
The Global Canned Alcoholic Beverages Market is Segmented as follows
- RTD Cocktails
- Hard Seltzers
- Distribution Channel
- Liquor Stores
- Other Channels
- Alcoholic Content
- Low (ABV less than 5%)
- High (ABV greater than 5%)
- Flavored alcoholic beverages
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Canned Alcoholic Beverages Market is
Bacardi Limited (U.S.), Diageo (UK), Brown-Forman Corporation (U.S.), Anheuser-Busch InBev (Belgium), Treasury Wine Estates (Australia), Union Wine Company (U.S.), E. & J. Gallo Winery (U.S.), Asahi Group Holdings Ltd. (Japan), Pernod Ricard (France), Integrated Beverage Group LLC (U.S.), Sula Vineyards (India), Kona Brewing Co. (U.S.), Suntory Holdings Ltd. (Japan), Barefoot Cellars (U.S.), Constellation Brands (U.S.)
The Global Canned Alcoholic Beverages Market Scope can be Tabulated as below
|Market Size Provided for Years
|2017 - 2030
|2017 - 2021
|2023 - 2030
|Regions & Counties Covered
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis