The canned alcoholic beverages market has demonstrated rapid growth in recent years, advancing from $7.01 billion in 2023 to $7.94 billion in 2024, indicating a compound annual growth rate (CAGR) of 13.2%. This growth in the historic period can be attributed to factors such as the rise in outdoor and recreational consumption, changing consumer preferences, effective marketing and branding strategies, the introduction of innovative flavors and varieties, retail expansion, and the emergence of craft canned drinks. Looking towards 2028, the market size is anticipated to continue its rapid growth, reaching $13.37 billion at a CAGR of 13.9%. Factors contributing to this growth in the forecast period include premiumization, an expanding demographic reach, the increasing popularity of hard seltzers, regulatory changes, societal acceptance, and the impact of global economic factors. Key trends in the forecast period encompass ready-to-drink (RTD) cocktails, a focus on sustainability and eco-friendly packaging, innovation in flavor combinations, the introduction of low-calorie and low-sugar options, collaborations and limited editions, and the rise of online retail and direct-to-consumer (DTC) sales.
The rising demand for ready-to-eat food and beverages is expected to propel the growth of the canned alcoholic beverages market. Ready-to-eat food and beverages refer to the food and beverages that are pre-cleaned, pre-cooked, and that are used for consumption without prior cooking. The rising demand for ready-to-eat food and beverages also increases the demand for canned alcoholic beverages. For instance, according to the study conducted by Distilled Spirits Council, a United States national trade association in 2021, global consumption of ready drink (RTD) cocktails had increased by 42.3 %. Therefore, the rising demand for ready-to-eat food and beverages is anticipated to promote the growth of the canned alcoholic beverages market.
Request A Free Sample Of The Global Canned Alcoholic Beverages Market ReportAnheuser-Busch Companies LLC, Heineken N.V., Asahi Group Holdings Ltd., Suntory Holdings Limited, Diageo plc, Ball Corporation, Kirin Holdings Company Limited, Crown Holdings Inc., Pernod Ricard, Carlsberg Group, Molson Coors Beverage Company, Constellation Brands, Ardagh Group, Rexam PLC, Bacardi Limited, Brown-Forman Corporation, The Boston Beer Company, Treasury Wine Estates, Stone Brewing Co., CANarchy Craft Brewery Collective, Kona Brewing Co., Brooklyn Brewery, Avery Brewing Company, 21st Amendment Brewery, E. & J. Gallo Winery, Union Wine Company, Integrated Beverage Group LLC, Cigar City Brewing, Barefoot Cellars, Oskar Blues Brewery
Strategic partnerships and collaborations are key trends gaining popularity in the canned alcoholic beverages market. Manufacturers in this market are strategically partnering and collaborating to expand their products and services. For example, in January 2021, Diageo, a UK-based beverage company, formed a global partnership with 12 prominent e-commerce, online retailers, and delivery platforms to establish the online sale of alcohol. Additionally, in November 2021, Bacardi, a Bermuda-based spirit company, partnered with Thirstie, a US-based technology company, to bring Bacardi e-gift cards to the market, featuring its portfolio of premium spirit brands.
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The canned alcoholic beverages market covered in this report is segmented –
1) By Product: Wine, RTD Cocktails, Hard Seltzers
2) By Alcoholic Content: High, Medium, Low
3) By Distribution Channel: On-Trade, Liquor Stores, Online, Other Distribution Channels
By Geography:The regions covered in the canned alcoholic beverages market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the canned alcoholic beverages market in 2023.
The Canned Alcoholic Beverages Global Market Report 2024 furnishes information about the global canned alcoholic beverages market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.