NEWARK, Del, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The canned wine market size is poised to cross US$ 643 million in 2024 and is likely to attain a valuation of US$ 3,129 million by 2034. The canned wine market share is projected to develop at a CAGR of 17.10% from 2024 to 2034.
Recognizing the allure of customized and hassle-free experiences, some canned wine companies have entered the subscription service market. This methodology ensures consumers receive a consistent supply of properly selected canned wines, boosting brand loyalty and client retention.
Brands intend to generate a constant income stream, improve consumer engagement, and capitalize on the rising trend of personalized and accessible shopping experiences in the alcoholic beverage sector by offering subscription services.
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There is a distinct trend toward producing single-varietal canned wines amid the popularity of wine mixes. This thoughtful move enables producers to highlight the different qualities of specific grape varietals, appealing to customers who like nuanced and traditional wine experiences. The emphasis on unique varietals indicates a dedication to authenticity and connoisseurship, which could resonate with wine fans looking for a more refined and distinctive offering in the convenience of a can.
For canned wine manufacturers, embracing environmental strategies in production and packaging is tempting. Businesses can reach out to environmentally sensitive consumers using eco-friendly packaging materials, establishing carbon-neutral manufacturing methods, and discussing sustainability activities. This strategic approach coincides with corporate social responsibility objectives, strengthens brand reputation, and fulfills increasing customer demand for environmentally friendly products, resulting in long-term brand loyalty and excellent market positioning.
“The canned wine market's trajectory is greatly affected by conventional winemaking processes and a comprehensive understanding of consumer behavior. Successful businesses in this area understand the significance of matching their services with evolving customer expectations, such as the drive for sustainability, premiumization, and the ease associated with alternate packaging. As the industry evolves, smoothly integrating history and innovation will be critical in establishing market leadership and long-term development.” - Nandini Roy Choudhury, Client Partner at Future Market Insights
Key Takeaways from the Canned Wine Market Report:
- In 2023, the global market size stood at US$ 554 million.
- The sparkling wine product type segment occupied 23.40% of the market shares in 2024.
- The hypermarket/supermarket sales channel segment captured 43.50% of the market share in 2024.
- The market in the United States is projected to rise at a 10.5% CAGR through 2034.
- The market size in the United Kingdom is anticipated to develop at an 11.6% CAGR through 2034.
- The market in France is estimated to record a growth of 16.5% through 2034.
- Italy is expected to thrive at a 13.2% CAGR through 2034.
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Competitive Landscape:
The competitive environment of the canned wine market is distinguished by a combination of history and innovation, with incumbent competitors using their industry status, newcomers providing agility and creativity, and strategic alliances affecting market positioning. The competitive dynamics are projected to strengthen as consumer tastes shift, compelling market participants to innovate, distinguish, and strategically position their offers to gain a share of the increasing canned wine industry.
Recent Developments Observed by FMI:
- In July 2023, Nomadica, a Los Angeles-based wine company founded by a sommelier known for its can labels designed by artists and commitment to sustainability, announced the arrival of its newest product, Orange.
- NICE, a wine company based in London, announced the launch of its first canned sparkling wine in June 2023. The White Wine product has a 10% ABV and dry, crisp, and effervescent smells, according to NICE. It's a Spanish Airén from La Mancha, Spain, and comes in a 200ml can.
Key Players in the Canned Wine Market:
- Union Wine Company
- Underwood
- MANCAN Wine
- The Infinite Monkey Theorem
- Lila Wines
- Francis Ford Coppola Winery
- Backpack Wine Co.
- House Wine
- Nomadica
- Electric Sky Wine
- Sans Wine Co.
- Babe Wine
- Coppola Sofia
- JOIY Wine
- Ramona
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Canned Wine Market Segmentation:
By Product Type:
- Sparkling Wine
- Still White Wine
- Still Red Wine
- Rosé
By Package Size:
- 250 ml (8.4 oz)
- 375 ml (12.7 oz)
- 187 ml (6.3 oz)
By Sales Channel:
- Hypermarket/supermarket
- Wine Shops and Specialty Stores
- Club Stores
- Liquor Stores
- Online Retail
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (APAC)
- The Middle East & Africa (MEA)
- Japan
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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