Craft alcoholic beverages is fastest growing segment fueling the growth of Canned Alcoholic Beverages Market

 

Canned Alcoholic Beverages Market

The global Canned Alcoholic Beverages Market is estimated to be valued at US$ 6.95 Billion in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Canned alcoholic beverages are pre-mixed drinks that are filled and sealed in metal cans. They offer the convenience of consumption anytime and anywhere along with the advantages of resealable packaging and durability. Their lightweight and portable nature has boosted their popularity among consumers.

 

Market Overview:

Canned alcoholic beverages include beer, hard seltzers, ciders, pre-mixed cocktails and wines. They are gaining popularity due to the ease of transportation and storage. The rising demand for convenience food and drinks is propelling the growth of the canned alcoholic beverages market.

 

Market key trends:

The canned alcoholic beverages market is witnessing rising demand for craft and premium varieties with unique flavors. Companies are innovating products made with natural ingredients to attract health-conscious consumers. Growing product promotion through social media marketing and celebrity endorsements is also boosting the popularity of canned beverages. Furthermore, the increasing potential of e-commerce as a sales platform and the rising acceptance of low- and zero-alcohol products will create new opportunities for players in the coming years. However, stringent regulations around the marketing and sales of canned alcoholic drinks may hinder the market growth.

Segment Analysis

 

The global canned alcoholic beverages market is dominated by the beer segment. Beer accounts for over 60% share of the overall canned alcoholic beverages market. Beer comes in a variety of flavours and alcohol by volume (ABV) which appeals to a wide consumer base. Moreover, beer is considered a social drink which is consumed during get-togethers and events with friends making it a popular choice. With rising consumption of canned beer globally, the segment is expected to continue dominating the canned alcoholic beverages market over the forecast period.

 

Key Takeaways

 

The Global Canned Alcoholic Beverages Market Size is expected to witness high growth, exhibiting CAGR of 13% over the forecast period, due to increasing preference for low-calorie and convenient packaging among consumers.

 

Regional analysis: North America dominates the global canned alcoholic beverages market owing to rising experimentation with novel canned products in the US. Moreover, Asia Pacific exhibits the fastest growth in the market led by countries like China and India. Changing lifestyles and expansion of global canned alcohol brands in Asia Pacific is propelling the growth of the regional market.

 

Key players: Key players operating in the canned alcoholic beverages market include Diageo plc, Brown-Forman, Pernod Ricard, Bacardi Limited, Suntory Holdings Limited, Asahi Group Holdings, Ltd., Anheuser-Busch InBev, E. & J. Gallo Winery, Constellation Brands, Inc., Treasury Wine Estates, Barefoot Cellars, and Kona Brewing Co. These players are focusing on new product development and expansion in international markets to gain market share.

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