Canned Alcoholic Beverages Market: Overview
The canned alcoholic beverages market will observe a positive growth cycle across the assessment period of 2020-2030. The increasing demand for canned alcoholic beverages due to properties like travel-friendly, convenience, portability, and others will significantly impact the growth of the canned alcoholic beverages market. In addition, metal cans are more feasible for use than glass bottles due to their high recycling rate. Thus, all these aspects will invite great growth opportunities across the forecast period.
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Canned alcoholic beverages comprise ready-to-consume drinks without any need for mixing. These beverages are premixed and are available in different flavors. The ease of use attached with the beverages will invite extensive growth for the canned alcoholic beverages market. An increase in the demand for canned alcoholic drinks due to simple and easy packaging format will also bring tremendous growth prospects. These factors bode well for the growth of the canned alcoholic beverages market.
Canned alcoholic beverages, on the basis of product, can be classified into wine (low-alcohol, still, sparkling, fortified), hard seltzers (sugar-based, malt-based, wine-based, spirit-based), and RTD cocktails (wine-based, spirit-based, malt-based). These beverages are distributed to the consumers through varied distribution channels such as liquor stores, on-trade, online, and others.
Canned Alcoholic Beverages Market: Competitive Insights
The canned alcoholic beverages market is highly competitive. Many established and new players form the crux of the growth of the canned alcoholic beverages market. The players indulge in new product launches and expansion activities for allowing seamless production and distribution of canned alcoholic beverages. The players are also involved in framing advertising strategies that help in attracting many individuals to their brands.
Many well-established names in the alcohol industry are entering the canned alcoholic beverages market seeing its exceptional potential. New entrants are also penetrating the canned alcoholic beverages market with new flavors and mixes, which eventually help in increasing the growth rate of the canned alcoholic beverages market.
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Some well-entrenched players in the canned alcoholic beverages market are Treasury Wine Estates (TWE), Integrated Beverage Group LLC, Constellation Brands, Brown-Forman Corporation, Suntory Holdings Limited, Asahi Group Holdings, Ltd., Sula Vineyards Pvt. Ltd., and E. & J. Gallo Winery.
Canned Alcoholic Beverages Market: Recent Developments
The growing popularity of canned alcoholic beverages is urging many players to launch new products and flavors. The trend of drinks like hard seltzers and Ready-To-Drink (RTD) cocktails is on the rise and, hence, all these factors turn the tables of growth across the canned alcoholic beverages market. Some of the major developments in the canned alcoholic beverages market classified according to their product types are as follows:
Along with its traditional beer range, the Orono Brewing Company has launched its hard seltzer line names Wild Maine Hard Seltzer.
Heineken recently jumped into the hard seltzers sector by launching Pure Pirana. This brand will specially cater to hard seltzers.
Jim Bean, a U.S.-based bourbon brand, recently launched bourbon-powered RTD cocktails.
Bacardi recently expanded its RTD cocktail range by adding three new flavors. It had launched its RTD cocktail range last year.
Vice Wine recently revealed its range of luxury canned wines.
India’s popular wine brand, Sula, recently launched its first canned wine, Dia Sparkler, in both white and red wine flavors.
These developments have a profound impact on the growth of the canned alcoholic beverages market.
Canned Alcoholic Beverages Market: Regional Perspective
North America’s canned alcoholic beverages market is expected to gain a dominating streak across the assessment period. The rising demand for convenience drinks and premixed flavors will bring exceptional growth. Asia Pacific’s canned alcoholic beverages market is also expected to grow rapidly on the back of the rising awareness among the populace.
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