Dublin, Nov. 03, 2023 (GLOBE NEWSWIRE) -- The "Canned Alcoholic Beverages Market Size, Share & Trends Analysis, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global canned alcoholic beverages market is on a trajectory of impressive growth, with projections indicating that it will reach a valuation of USD 59.37 billion by 2030. This significant expansion is expected to occur at a compelling compound annual growth rate (CAGR) of 19.1% from 2023 to 2030. Canned alcoholic beverages are gaining widespread popularity among consumers due to their convenience, portability, and travel-friendly nature. Additionally, these metal cans offer cost advantages over glass bottles and boast a considerably higher recycling rate compared to their glass counterparts.
Key Market Trends:
- Hard Seltzers: In 2022, hard seltzers dominated the market, holding the largest revenue share. These carbonated water-based beverages infused with fruits and spirits have become favorites among millennials due to their low alcohol content. The affordability of hard seltzer and their wide availability in supermarkets and convenience stores are expected to fuel their sales in the coming years.
- Canned Wine: The wine segment is anticipated to exhibit a high CAGR during the forecast period. Growing consumer awareness for eco-friendlier alternatives to glass and plastic bottles, coupled with a preference for convenient and travel-friendly options, is propelling the demand for canned wine. Canned wines offer durability, portability, and user-friendly packaging.
- Distribution Channels: In 2022, liquor stores played a pivotal role in the market, contributing the majority of the share to become the largest division in global revenue. These stores have long been established distribution channels for canned alcoholic beverages, offering a wide array of premium and private label brands that attract consumers.
Market Landscape
The canned alcoholic beverages market is characterized by its fragmentation, with a multitude of global and regional players. Prominent companies in this industry include Bacardi Limited, Diageo, Brown-Forman, 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, and Constellation Brands.
Key Highlights:
- Asia Pacific: The Asia Pacific region is expected to witness the fastest CAGR of 29.9% from 2023 to 2030. This growth is primarily driven by the presence of young consumers and rapidly growing economies in the region.
- Hard Seltzers: The hard seltzers segment is projected to register the fastest CAGR of 19.5% from 2023 to 2030. The increasing consumer awareness of eco-friendly alternatives to plastic bottles and the growing preference for convenient products are driving the demand for canned hard seltzers.
- Online Sales: The online segment is expected to register the fastest CAGR of 20% from 2023 to 2030. Various online platforms are offering a hassle-free shopping experience, which is expected to boost the segment's growth.
The global canned alcoholic beverages market is undergoing a remarkable transformation, driven by changing consumer preferences and a shift toward more sustainable and convenient options. The convenience and eco-friendliness of canned alcoholic beverages, along with their wide availability, are expected to continue propelling this market's impressive growth in the years to come.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $14.62 Billion |
| Forecasted Market Value (USD) by 2030 | $59.37 Billion |
| Compound Annual Growth Rate | 19.1% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Canned Alcoholic Beverages Market Variables, Trends & Scope
Chapter 4. Consumer Behavior Analysis
Chapter 5. Canned Alcoholic Beverages Market: Product Estimates & Trend Analysis
Chapter 6. Canned Alcoholic Beverages Market: Distribution Channel Range Estimates & Trend Analysis
Chapter 7. Canned Alcoholic Beverages Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Analysis
Companies Mentioned
- Bacardi Limited
- Diageo
- Brown-Forman
- 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
For more information about this report visit https://www.researchandmarkets.com/r/tdqqnb
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