Canned Alcohol Beverages Market to Grow at CAGR of 22.1% through 2032; Increased Demand for Hard Seltzers to Bolster Growth - Yahoo Singapore News

The demand for canned alcoholic beverages is projected to increase as customers look for more convenient choices. Some of the most well-known in-store distributors of canned alcoholic drinks include Walmart and Costco.

Newark, May 10, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 12.2 billion in 2022 canned alcoholic beverages market will reach USD 89.8 billion by 2032. Pre-mixed cocktails packaged in a metal can are what are known as canned alcoholic beverages. Aluminum or steel are the two materials that are utilized to make the cans that store alcoholic drinks. With rising demand for premiumization of alcoholic beverage packaging, the use of cans for alcoholic drinks has expanded in recent years. Additionally, canned alcoholic beverages are becoming more and more popular because they can maintain the flavor of the drinks while still allowing for fresh serving.

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Report Coverage Details

Report Coverage	Details
Forecast Period	2023-2032
Base Year	2022
Market Size in 2022	USD 12.2 Billion
Market Size in 2032	USD 89.8 Billion
CAGR	22.1%
No. of Pages in Report	236
Segments Covered	The research segment is based on Product, Distribution Channel, Regions.
Drivers	Popular beverage option for outdoor activities and celebrations
Opportunities	Changing consumer tastes and promote category growth
Restraints	Consumer concern over the adverse impacts of alcohol intake

Key Insight of the Canned Alcoholic Beverages Market

Asia Pacific is anticipated to expand at the highest CAGR of 29.6% over the projection period.

Asia Pacific is expected to grow at the highest CAGR of 29.6% over the forecast period. The primary drivers of the canned alcoholic beverage market demand in the Asia Pacific region are the rapidly expanding alcohol sector and quickly expanding economies. During the forecast period, it is anticipated that the number of young consumers, rising wages, and increased alcohol affordability will all increase significantly. Additionally, new product launches by domestic and foreign wineries and distilleries will spur the industry's expansion in the area. For instance, Sula Vineyards introduced Dia Sparkler, its first canned wine, in India in February 2020. Dia Sparkler comes in both white and red wine varieties.

In the canned alcoholic beverages market, the Hard seltzers segment is anticipated to expand at the highest CAGR of 23.4% over the projection period.

The Hard seltzers segment is anticipated to expand at the highest CAGR of 23.4% over the projection period. Malted barley or grain-free spirits are typically used to make the hard seltzer alcoholic drinks. The hard seltzers industry has expanded due to the low-calorie content of their canned alcoholic beverages. During the forecast period, the hard seltzers segment will continue to grow due to a number of factors, including new product launches, rising health concerns, and rising demand for alcoholic beverages free of gluten.

In the canned alcoholic beverages market, the online segment is anticipated to expand at the highest CAGR of 22.3% over the projection period.

The online distribution segment is anticipated to expand at the highest CAGR of 22.3% over the projection period. Launching their websites is a priority for major companies in the global market for canned alcoholic beverages in order to connect with a wide variety of customers throughout the world. Additionally, consumers are more likely to purchase alcoholic beverages online because there are numerous options, hassle-free doorstep delivery, and simple payment methods.

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Market Dynamics

Driver

Canned alcoholic beverages provide convenience for consumers looking for a quick and easy method to enjoy their favorite cocktails without the need for mixers or other supplies. Canned alcoholic beverages are also popular for outdoor activities and festivities since they are portable and can be drank anywhere. Furthermore, the canned alcoholic beverage market includes a wide range of tastes and drink varieties, such as beer, wine, and cocktails, which appeal to a wide range of customers.

Opportunity

As customers seek more convenient options, demand for canned alcoholic beverages is expected to rise. Manufacturers may benefit from this trend by developing new goods that are more convenient and easy to use. Furthermore, the canned alcoholic beverage market has a lot of potential for innovation, such as new flavor combinations and low-alcohol alternatives. Manufacturers may produce new things in response to changing consumer demands and boost category growth.

Some of the major players operating in the canned alcoholic beverages market are:

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

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Key Segments cover in the market:

By Product

• Hard Seltzers
• Wine
• RTD Cocktails

By Distribution Channel

• Liquor Stores
• On-Trade
• Online

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.

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