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Canned Alcoholic Beverages Market Size - By Product (Wine, RTD Cocktails, Hard Seltzers), By Distribution Channels (On-Trade, Liquor Stores, Online), Growth Prospects, Regional Outlook & Global Forecast, 2024 – 2032

  • Report ID: GMI6827
  • Published Date: Sep 2023
  • Report Format: PDF

Canned Alcoholic Beverages Market Size

Canned Alcoholic Beverages Market size surpassed USD 63.05 billion in 2023 and is projected to grow at over 13.6% CAGR from 2024 to 2032. Factors, such as consumer convenience and portability preferences, environmental concerns encouraging recyclable packaging, and the rising appeal of outdoor and on-the-go social activities like outdoor gatherings, picnics, and festivals, all contribute to the rising demand for canned alcoholic beverages. Alcoholic beverages in cans provide a single-serving option that fits these trends and is lightweight, portable, and convenient, making them a popular option for customers looking for convenience and sustainability in their beverage choices.
 

Canned Alcoholic Beverages Market

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Canned alcoholic beverages are packaged in sealed cans for easy consumption, such as cocktails, beer, wine, and hard seltzers. These ready-to-drink canned beverages have gained appeals because to their ease of storage, portability, and adaptability for a range of social circumstances, making them a useful choice for clients looking for outdoor or on-the-go drinking options.
 

Competition from other alcoholic beverage categories restricts the canned alcoholic beverages industry growth. Consumers have access to a broad variety of alcoholic alternatives, including craft beers, classic bottled drinks, and wine. These substitutes compete with canned alcoholic beverages by providing a variety of tastes, branding, and consumption experiences, which limits their market revenue growth.
 

COVID-19 Impact

The canned alcoholic beverages industry was significantly impacted by the COVID-19 pandemic There was a shift in consumer preferences toward at-home consumption as a result of lockdowns, limits on gatherings, and the closing of pubs and restaurants. Because of their portability and accessibility, canned alcoholic beverages saw a rise in popularity as people looked to replicate bar experiences in the comfort of their own homes.
 

Canned Alcoholic Beverages Market Trends

The market for canned alcoholic beverages is expanding significantly due to convenience, portability, and ecological concerns. Due to its portable packaging, appropriateness for outdoor activities, and lower environmental impact compared to glass bottles, consumers are favoring ready-to-drink canned cocktails, wine, and hard seltzers more. To meet changing customer desires for healthier and more varied drinking options, the industry is also witnessing innovation with a low-calorie option, diversity of tastes, and premium offers.
 

Canned Alcoholic Beverages Market Analysis

Canned Alcoholic Beverages Market Size, By Product, 2021 - 2032 (USD Billion)

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The wine segment dominated around USD 25.59 billion revenue in 2022. Canned wine comes in single-serving volumes that are handy for consumers. Canned wine is less expensive than bottled wine, making it more accessible to various customers. This cost is especially appealing to younger groups and those on a limited budget. These factors, together with changing customer choices and lifestyles, contribute to market expansion.
 

Canned Alcoholic Beverages Market Share, By Distribution Channels, (2022)

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The liquor stores segment accounted for 50% of the market share in 2022. Canned alcoholic drinks are primarily supplied via liquor stores as a primary distribution method. These stores offer convenience and choice to their customers by offering a large range of canned alcoholic drinks, including ciders, beers, and ready-to-drink cocktails. Customers may readily obtain their chosen brands and tastes when liquor stores cooperate with breweries, distilleries, and beverage firms to carry popular canned alcoholic choices.
 

North America Canned Alcoholic Beverages Market, 2021 - 2032 (USD Billion)

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North America canned alcoholic beverages market size reached over USD 20.44 billion in 2022, owing to increased consumer demand for convenient and portable drink choices, particularly among millennials and Generation Z. The market in North America is growing, and both well-known brands and independent producers are taking advantage of this development by providing a wide variety of products to meet the changing needs of consumers.
 

Canned Alcoholic Beverages Market Share

Some of the major companies operating in the canned alcoholic beverages industry are:

  • Diageo
  • Anheuser-Busch InBev
  • Treasury Wine Estates
  • Union Wine Company
  • E. & J. Gallo Winery
  • Pernod Ricard
  • Sula Vineyards
  • Integrated Beverage Group LLC (IBG)
  • Kona Brewing Co.
  • Suntory Holdings Limited
  • Asahi Group Holdings, Ltd.
  • Barefoot Cellars
  • Constellation Brands
  • Bacardi Limited
  • Brown-Forman

These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Diageo's canned alcoholic beverages are available in a variety of flavors and styles, and they are sold in over 180 countries around the world. Diageo is also constantly innovating and developing new canned alcoholic beverages to meet the changing needs of consumers.
 

Canned Alcoholic Beverages Industry News:

  • In August 2022, Tito's Handmade Vodka introduced a new product. Tito's in a Can, a limited-edition 16-ounce can that is insulated, double-walled, and refillable. The latest release allows customers to create their own canned drinks using Tito's Handmade Vodka and absolutely any components they wish.
     

This market research report of canned alcoholic beverages includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Thousand Liters from 2018 to 2032, for the following segments:

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Market, By Product

  • Wine
  • RTD Cocktails
  • Hard Seltzers

Market, By Distribution Channels

  • On-Trade
  • Liquor Stores
  • Online

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Malaysia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Egypt

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of canned alcoholic beverages was worth USD 63.05 billion in 2023 and is set to reach USD 196.98 billion by 2032, due to the rising environmental concerns for encouraging recyclable packaging.
Canned alcoholic beverages industry size from the wine product segment crossed USD 25.59 billion in 2022, owing to their rising accessibility to various customers.
The liquor stores distribution channel held over 50% of the market share in 2022, driven by convenience and choice offered to customers.
North America market size was valued at USD 20.44 billion in 2022, attributed to the higher consumer demand for convenient and portable drink choices in the region.

Canned Alcoholic Beverages Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 136
  • Countries covered: 21
  • Pages: 180
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