The Global Canned Alcoholic Beverages Market was estimated to be US$ 9.45 Billion in 2022 and is expected to grow at a CAGR of 17.8% between 2023 to 2032.
Canned Alcoholic Beverages are alcoholic drinks that are packaged in cans for easy consumption. These beverages are typically pre-mixed, bottled or canned and do not require any additional preparation before consumption. They are ready-to-drink (RTD) alcoholic beverages that offer convenience and portability to consumers.
Canned alcoholic beverages are available in a variety of options such as beer, hard seltzers, pre-mixed cocktails, and wine spritzers, among others. These beverages are usually made with lower alcohol content and in smaller serving sizes compared to traditional alcoholic beverages, making them a popular choice among consumers who want to enjoy alcoholic drinks without the risk of getting too drunk.
Canned alcoholic beverages have gained popularity due to their convenience, ease of transportation, and long shelf life. They are often marketed towards young adults, outdoor enthusiasts, and those who enjoy socializing at events or parties.
The Global Canned Alcoholic Beverages Market is being driven by several factors, including the convenience and portability of canned alcoholic beverages, the growing trend of ready-to-drink (RTD) beverages, and changing consumer preferences towards low-alcohol content beverages. Canned alcoholic beverages are lightweight, easy to carry, and have a longer shelf life, making them convenient for outdoor activities and events.
The popularity of canned alcoholic beverages has increased due to the convenience they offer, which is driving the market growth. The growing trend of RTD beverages has also increased the demand for canned alcoholic beverages as they are easy to transport and store.
Additionally, consumers are increasingly looking for low-alcohol content beverages due to health concerns and changing lifestyles. Canned alcoholic beverages with lower alcohol content have become popular, especially among young adults who want to enjoy alcoholic beverages without the risk of getting too drunk. These factors have led to the introduction of innovative and unique flavors in canned alcoholic beverages.
Companies such as Bacardi, Mike's Hard Lemonade, and Heineken have launched canned alcoholic beverages that cater to the convenience, portability, and low-alcohol content preferences of consumers
Based on type, the Beer segment is the largest segment in the global canned alcoholic beverages market. This segment accounted for the highest revenue and is expected to continue to dominate the market. There are several reasons why the beer segment is the largest in the canned alcoholic beverages market.
Firstly, beer is one of the most consumed alcoholic beverages globally and has a wide consumer base. Secondly, canned beer is convenient and easy to transport, making it a popular choice for outdoor activities and events.
Thirdly, the trend of craft beers has been driving the growth of the beer segment in the canned alcoholic beverages market, as consumers are looking for unique and innovative flavors.
Lastly, the beer segment has been witnessing increased investment from key players in the market, which has been driving the growth of this segment. While the beer segment is the largest in the canned alcoholic beverages market, the other segments such as wine, spirit-based, and others are also growing at a considerable rate due to increasing demand for convenience and portability in alcoholic beverages.
Geographically, global canned alcoholic beverages market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
Following are some of the major trends in these regions –
North America: North America is the largest market for canned alcoholic beverages, with the United States being the major contributor to the region's growth. The increasing popularity of hard seltzers, craft beer, and ready-to-drink (RTD) cocktails is driving the growth of the market in the region.
Europe: Europe is also a significant market for canned alcoholic beverages, with the United Kingdom and Germany being the major contributors to the region's growth. The trend of low-alcohol content beverages and the increasing demand for convenience and portability in alcoholic beverages are driving the growth of the market in the region.
Asia-Pacific: The Asia-Pacific region is expected to witness the highest growth rate during the forecast period, driven by the increasing urbanization, rising disposable income, and changing consumer preferences towards low-alcohol content beverages. Japan, China, and Australia are some of the major countries contributing to the growth of the market in the region.
Middle East and Africa: The Middle East and Africa region is expected to witness moderate growth due to the strict regulations on alcohol consumption in several countries in the region. However, the increasing demand for convenience and portability in alcoholic beverages is expected to drive the growth of the market in the region.
South America: South America is also expected to witness moderate growth in the canned alcoholic beverages market, driven by the increasing demand for innovative and unique flavors in the region. Brazil and Argentina are the major contributors to the growth of the market in the region.
The major growth strategies adopted by companies operating in the global canned alcoholic beverages market include:
Product innovation: Companies are investing in research and development activities to introduce new and innovative canned alcoholic beverages to cater to the changing consumer preferences. For instance, in 2020, Anheuser-Busch InBev launched a hard seltzer brand called "Social Club Seltzer," which offers unique flavors such as Peach Honey, Strawberry Rosé, and Lemon Elderflower.
Acquisitions and partnerships: Companies are acquiring other players in the market or partnering with them to expand their product portfolio and geographical presence. For instance, in 2020, Molson Coors acquired Atwater Brewery to expand its presence in the craft beer market.
Marketing and advertising: Companies are investing heavily in marketing and advertising activities to increase brand awareness and promote their products. For instance, White Claw, a popular hard seltzer brand, launched a successful advertising campaign in 2019, which contributed to its rapid growth in the market.
Distribution expansion: Companies are expanding their distribution channels to reach a wider consumer base. For instance, in 2020, Constellation Brands expanded the distribution of its popular Modelo brand to convenience stores and independent retailers to increase its accessibility to consumers.
Sustainability: Companies are adopting sustainable practices in their operations to reduce their environmental impact and appeal to environmentally-conscious consumers. For instance, Ball Corporation, a leading manufacturer of aluminum cans, has committed to using 100% renewable energy in its operations by 2025 to reduce its carbon footprint.
Anheuser-Busch InBev, Bacardi Limited, Brown-Forman Corporation, Constellation Brands, Inc., Diageo plc, Heineken N.V., Mark Anthony Brands International, Mike's Hard Lemonade Co., Molson Coors Brewing Company, Pabst Brewing Company, Rexam PLC, SABMiller plc, The Boston Beer Company, The Coca-Cola Company, The Gambrinus Company and many more.
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By Region
The canned alcoholic beverages market size was estimated to be US$ 9.45 Billion in 2022.
The canned alcoholic beverages market is expected grow at a CAGR of 17.8% between 2023 to 2032.
The Canned Alcoholic Beverages Market is being driven by several factors, including the convenience and portability of canned alcoholic beverages, the growing trend of ready-to-drink (RTD) beverages, and changing consumer preferences towards low-alcohol content beverages.
The Beer segment is expected to continue to dominate the market. Beer is one of the most consumed alcoholic beverages globally and has a wide consumer base.
North America is the largest market for canned alcoholic beverages, with the United States being the major contributor to the region's growth. The increasing popularity of hard seltzers, craft beer, and ready-to-drink (RTD) cocktails is driving the growth of the market in the region.
Anheuser-Busch InBev, Bacardi Limited, Brown-Forman Corporation, Constellation Brands, Inc., Diageo plc, Heineken N.V., Mark Anthony Brands International, Mike's Hard Lemonade Co., Molson Coors Brewing Company, Pabst Brewing Company, Rexam PLC, SABMiller plc, The Boston Beer Company, The Coca-Cola Company, The Gambrinus Company KP among others, are the leading players in this market.
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