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The canned alcoholic beverages market is experiencing dynamic changes influenced by various factors, including shifting consumer preferences, convenience, market trends, and regulatory environments. Over recent years, there has been a noticeable surge in the popularity of canned alcoholic beverages, driven largely by the convenience they offer. Canned drinks provide consumers with portability, ease of consumption, and the ability to enjoy their favorite alcoholic beverages in a variety of settings, such as outdoor events, picnics, and parties. This convenience factor has significantly contributed to the growth of the canned alcoholic beverages market.
Consumer preferences are evolving, with a notable trend towards more convenient and portable options in the alcoholic beverage space. Canned alcoholic beverages cater to this demand by offering a convenient alternative to traditional bottled drinks. Additionally, the rise of on-the-go lifestyles and outdoor activities has further fueled the demand for canned alcoholic beverages, as they allow consumers to enjoy their favorite drinks without the need for glassware or additional mixers. This trend is particularly evident among younger demographics, including millennials and Gen Z, who prioritize convenience and experience in their purchasing decisions.
Moreover, the market dynamics of canned alcoholic beverages are also influenced by changing consumer preferences for flavor variety and experimentation. Manufacturers are responding to this demand by introducing a wide range of flavors and innovative formulations in canned formats, including cocktails, hard seltzers, and flavored beers. These offerings cater to diverse taste preferences and enable consumers to explore new and exciting flavor profiles. The ability to offer unique and novel flavors has become a key competitive advantage for brands operating in the canned alcoholic beverages market.
In addition to consumer preferences, market dynamics are also shaped by regulatory environments governing the sale and distribution of alcoholic beverages. Regulations vary across regions and countries, impacting factors such as labeling requirements, alcohol content, and distribution channels. Manufacturers must navigate these regulations to ensure compliance and market access. Moreover, changes in regulatory frameworks can impact product formulations and marketing strategies, influencing the overall market dynamics of canned alcoholic beverages.
Competition within the canned alcoholic beverages market is intensifying, with both established brands and new entrants vying for market share. Key players in the market are focusing on product innovation, branding, and marketing strategies to differentiate themselves and gain a competitive edge. Innovation in packaging design, flavor offerings, and marketing campaigns are key strategies employed by brands to attract consumers and drive sales. Additionally, partnerships and collaborations with influencers, events, and retailers play a significant role in increasing brand visibility and market penetration.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Product, Distribution Channel, and Region |
Canned Alcoholic Beverages Market Highlights:
Global Canned Alcoholic Beverages Market Overview
Canned Alcoholic Beverages Market Size was valued at USD 14.5 Billion in 2022. The Canned Alcoholic Beverages market industry is projected to grow from USD 17.3 Billion in 2023 to USD 72.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 19.60% during the forecast period (2023 - 2032). The growing preference for easy packaging and the increasing focus on sustainable and eco-friendly solutions are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Canned Alcoholic Beverages Market Trends
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Growing Preference for Convenience and Portability Drives Market Growth
Customers' preference for ready-to-eat and ready-to-drink items, as well as their busy lifestyles and demanding work schedules, are driving up demand for canned alcoholic beverages market CAGR. The market for canned alcoholic beverages is predicted to be driven by an expanding working population and a rising number of women in the workforce. These cocktails are also easier to open because they don't require glasses or a corkscrew. Unlike alcoholic beverages in bottles, consumers can consume a whole can in one sitting due to the individually proportioned servings.
The growing thirst for alcoholic beverages among millennials is expected to have a substantial impact on market growth. Consumers can enjoy their favourite drinks whenever and wherever they want, including at the beach, by the pool, while camping, and on social trips. Because cans protect the drink from light and oxygen outflow, alcoholic beverages can retain their high quality. The increased demand for premium, organic, and canned beverages may provide this business with even more opportunities for expansion.
Moreover, millennials and younger generations are the most likely to consume alcoholic beverages in cans. These buyers are looking for high-end products from brands with cutting-edge flavours and packaging. Customers globally are shifting to premium alcoholic beverage brands that provide superior brand experiences and high-quality products. In terms of alcohol, youthful consumers' preferences and tastes have developed. Consumers who have begun to spend money on drinks that provide a delightful experience rather than a typical alcoholic beverage are driving the market for canned alcoholic beverages. Alcoholic beverages packaged in cans have a more sophisticated appearance and overall appeal. As a result, manufacturers have begun to develop more products in this format in order to grab this market.
Additionally, Alcoholic beverages in cans are portable and lightweight. Alcoholic beverage cans rarely weigh more than 15 grams. Cans are indestructible, making them ideal for travel and disposal. Canned alcoholic beverages are stackable and offer an easy storage option because the packing material shields the interior liquid from light or excess oxygen.
Aluminium or steel cans are a long-lasting and convenient way to drink. Canned alcoholic beverages are convenient for drinkers because they can be consumed right away. The expanding demand for handy alcoholic beverages is seen as a crucial driving factor for the market's growth.
Canned Alcoholic Beverages Market Segment Insights
Canned Alcoholic Beverages Product Insights
The Canned Alcoholic Beverages market segmentation, based on Product includes wine, RTD cocktails and hard seltzers. In 2022, the hard seltzers segment will dominate the worldwide canned alcoholic beverages market. Hard seltzers are alcoholic beverages prepared from malted barley or grain-neutral spirits. The low-calorie nature of hard seltzers canned alcoholic beverages has supported the segment's rise. New product introductions, expanding demand for gluten-free alcoholic beverages, and rising health concerns are just a few of the drivers expected to drive the hard seltzers market over the projection period.Â
Canned Alcoholic Beverages Distribution channel Insights
The Canned Alcoholic Beverages market segmentation, based on distribution channel, includes on-trade, liquor stores, online and other. In 2022, the liquor stores segment provided more than 54.4% of revenue. These stores have long served as a popular and well-established distribution route for the business. The availability of both premium and private label brands at these outlets entices customers to buy through these channels. The liquor stores offer a better in-store experience as well as a bigger selection of products.
According to the National Association of Convenience Stores 2021 report, 53% of buyers like to see their alcoholic beverage alternatives in-store, while 41% find it easier to discover new brands. Customers can learn more about the product, verify the product, discover new brands, and get assistance from store employees who know more about the product and suggest products based on the shopper's taste and preferences in liquor stores and other retail stores such as Walmart, Costco, and Target. During the pandemic, however, overall in-store sales of several-liquor and offline retail businesses decreased dramatically.
Figure1: Canned Alcoholic Beverages Market, by Distribution channel, 2022&2032(USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Canned Alcoholic Beverages Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. In 2022, North America will have the biggest market share. The region's availability of a diverse selection of alcoholic beverages has aided the expansion of the canned alcoholic beverages market. Along with this, rising alcoholic beverage spending in the region is likely to keep North America growing. Furthermore, rising demand for premium and super-premium alcoholic beverages, particularly beer and vodka, is propelling the growth of the canned alcoholic beverages market in North America.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2:CANNED ALCOHOLIC BEVERAGES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Canned Alcoholic Beverages market accounts for the second-largest market share. The abrupt shift in customer preference for quality and convenient alcoholic beverages has spurred the rise of Europe's canned alcoholic beverages market. Further, the German Canned Alcoholic Beverages market held the largest market share, and the UK Canned Alcoholic Beverages market was the fastest growing market in the European region
The Asia-Pacific Canned Alcoholic Beverages Market is expected to grow at the fastest CAGR from 2023 to 2032. The availability of affordable alcoholic beverages is related to the rise of the canned alcoholic beverages industry in Asia Pacific. The increasing preference for canned beverages in Asia Pacific is projected to drive market expansion. Moreover, China’s Canned Alcoholic Beverages market held the largest market share, and the Indian Canned Alcoholic Beverages market was the fastest growing market in the Asia-Pacific region.
Canned Alcoholic Beverages Key Market Players& Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Canned Alcoholic Beverages market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Canned Alcoholic Beveragesindustry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Canned Alcoholic Beverages industry to benefit clients and increase the market sector. In recent years, the Canned Alcoholic Beverages industry has offered some of the most significant advantages to medicine. Major players in the Canned Alcoholic Beverages market, including Bacardi Limited; Diageo; Anheuser-Busch InBev; Treasury Wine Estates; Union Wine Company; Brown-Forman Corporation; E. & J. Gallo Winery; Asahi Group Holdings, Ltd.; Pernod Ricard; Sula Vineyards; Kona Brewing Co., Suntory Holdings Limited; Barefoot Cellars; Integrated Beverage Group LLC (IBG); Constellation Brands. and others, are attempting to increase market demand by investing in research and development operations.
Molson Coors is a worldwide beverage and brewing corporation based in Chicago, Illinois, with headquarters in Golden, Colorado, and Montreal, Quebec. Molson Coors was created in 2005 when Molson of Canada and Coors of the United States merged. The Adolph Coors Company and Molson, Inc. announced their intention to merge on July 22, 2004. The merger was completed on February 9, 2005, and the resulting firm was known as Molson Coors Brewing firm. The Molson Brewery and the Coors Brewing Company merged their brands and brewing facilities. In 1786, John Molson founded the Molson Brewery in Montreal, Canada. Adolph Coors founded the Coors Brewing Company in 1873 in Golden, Colorado, United States. In January 2023, Molson Coors Beverage Company, based in Chicago, introduced 'Roxie,' a zero-proof canned beverage. Roxie is available in three canned flavours: Ripe with Passionfruit, Lost in Mango, and Forbidden Pineapple. The business has added canned alcohol to its online store.
The Coca-Cola Company produced Fresca, a grapefruit-flavored citrus soft drink. It was launched in the United States in 1966, using the phrase Fresca (meaning "fresh") from Italian, Spanish, and Portuguese. Originally sugar-free diet sodas in a bottle, sugar-sweetened variants were developed in select areas. Fresca is currently rebranded as "Fresca Sparkling Soda Water," reformulated in four flavours - Grapefruit Citrus, Black Cherry Citrus, Peach Citrus, and Blackberry Citrus - and billed as "the original no sugar, no calorie sparkling beverage." Fresca is currently offered in plastic bottles and aluminium cans in the United States. In September 2022, FRESCA, a well-known blended line of canned drinks, debuted in the United States with a canned alcohol cocktail option. FRECA's premixed and ready-to-drink alcoholic beverages are made using real spirits. The zero-sugar beverage is available in four 12-oz can packs.
Key Companies in the Canned Alcoholic Beverages market include
- Bacardi Limited
- Diageo
- Brown-Forman Corporation
- Anheuser-Busch InBev
- Treasury Wine Estates
- Union Wine Company
- E & J. Gallo Winery
- Asahi Group Holdings, Ltd.
- Pernod Ricard
- Integrated Beverage Group LLC (IBG)
- Sula Vineyards
- Kona Brewing Co.
- Suntory Holdings Limited
- Barefoot Cellars
- Constellation Brands.
Canned Alcoholic Beverages Industry Developments
In February 2023, Vita Coco, a leading coconut water brand, and Captain Margo, a rum brand, have introduced Vita Coco Spiked with Captain Morgan, an RTD alcohol drink. The new product includes three rum-based cocktails: a pina colada, a strawberry mojito, and a lime mojito. The freshly released 'Vita Coco Spiked with Captain Morgan' is now available in the United States.
In February 2023, Bira 91, the fastest growing beer company, announced its foray into the hard seltzers market with the release of the 'Grizly' hard seltzers ale. Bira 91's Grizly combines cocktails, wine, and beer in a single can. Bira 91's canned alcoholic beverage is made with all-natural, low-sugar ingredients.Â
In August 2022, Tito's, based in the United States, has announced the release of its new canned ready-to-drink vodka. The 16-oz., double-insulated bottle may provide high-quality, smooth vodka cocktails at an affordable price.Â
Canned Alcoholic Beverages Market Segmentation
Canned Alcoholic Beverages Market Product Outlook
- Wine
- RTD Cocktails
- Hard Seltzers
Canned Alcoholic Beverages Market Distribution Channel Outlook
- On-trade
- Liquor Stores
- Online
- Other
Canned Alcoholic Beverages Regional Outlook
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North America- US
- Canada
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Europe- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
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Rest of the World- Middle East
- Africa
- Latin America
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