Canned Alcoholic Beverages Market: Global Industry Analysis and Forecast (2024-2030)

Canned Alcoholic Beverages Market Overview:

The market for canned alcoholic beverages is expected to experience high growth due to the convenience   offer. Canned alcoholic beverages are easy to carry and store, making them a popular choice among consumers. Additionally, the trend of convenience-oriented products is on the rise, especially among millennials who prefer on-the-go options. Canned alcoholic beverages provide a convenient option for consumers to enjoy their favourite drinks without the need for additional mixers or glassware. The convenience factor is expected to drive the demand for canned alcoholic beverages in the market

 

The report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments. The report helps the Canned Alcoholic Beverages manufacturers, new entrants, and industry chain-related companies in the market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by product type, by distribution Channel, and by regions.

 

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Canned Alcoholic Beverages Market Dynamics:

Driving Factors and Trends in the Canned Alcoholic Beverages Market

Consumer convenience and portability preferences, environmental concerns encouraging recyclable packaging, and the rising appeal of outdoor and on the go social activities like outdoor gathering, picnics and festivals, contributed to the rising demand for Canned Alcoholic Beverages Market. Rising interest in alcoholic beverages across the globe are expected to boost the growth of canned alcoholic beverages market. Alcoholic beverage producers invest in the category to capture revenue from the trends while maintaining customer loyalty to the brands’ original alcoholic versions. Among low-alcohol offerings, ready-to-drink cocktails are growing particularly fast, benefitting from increasing demand for flavoured and convenience drinks in casual gatherings.

 

The Rise of At-Home Cocktails and Ready-to-Drink Beverages in Canned Alcoholic Beverages Market

The rising trend of at-home cocktail has emerging trend in Canned Alcoholic Beverages Market. As more consumers enjoy socializing and entertaining at home, the demand for pre-mixed cocktails that offer the taste and experience of a professionally-made drink has increased. Canned cocktails provide an accessible and hassle-free alternative to traditional mixology, appealing to consumers who desire convenience without compromising on quality or taste.

 

RTDs are just plain convenient and as the variety and quality of RTDs has increased, so has the popularity of the drinks. Because the type of beverage speaks directly to the current needs and desires of consumers, it is safe to say that RTDs continue to be a bright spot in the market. RTD’s or ‘Ready to Drink’ are currently riding a wave of relative global success and are particularly popular in the UK. Many RTDs are produced at around 4-5% ABV. High ABV means more cost, from both an increase in spirit used and a higher taxation on the finished product. The average consumer doesn’t want to pay too much for a canned drink, even if the contents are the same as a drink in a pub.

Canned Alcoholic Beverages Market Segment Analysis:

A hard seltzer is a type of flavored alcoholic beverage that contains carbonated or sparkling water, alcohol, and fruit flavorings. It is an alternative to other alcoholic drinks, such as beer, wine, and spirits, that is low in calories and carbs. The meteoric rise of hard seltzers in the US has been enabled by a confluence of trends including consumer demand for convenience, refreshing flavours and ‘better for you’ products. The availability of the alcohol base impacts the cost and production time of hard seltzers. Willingly available alcohol bases such as GNS or cane sugar faster and less expensive, while less common bases such as agave have a higher cost and longer production time.

 

The ingredients (yeast, fruit flavorings, nutrients, and so on) and alcohol base impact the cost of production. The alcohol base accounts for the majority of prices and need to factor in taxes, particularly the Federal Exercise Tax (FET), when calculating the total cost. Along with the filtration and packaging costs, also consider the cost of licensing and permitting. GNS bases have the highest production costs thanks to the high FET, while wine and malt bases have the lowest production costs owing to their lower FET and s Taxes vary from state to state.

Canned Alcoholic Beverages Market Regional Analysis:

The North America held highest Market share in 2023 for the Canned Alcoholic Beverages Market. The U.S. ready-to-drink (RTD) beverage market has seen considerable growth, accounting for nearly 12% of the total alcoholic beverage market, surpassing the U.S. wine market. Growth has been driven primarily by hard seltzers, but post-pandemic, the RTD category is undergoing a transformation.  North America aluminium can market very robust and the outlook is extremely favourable. Demand for aluminium beverage cans is projected to grow at a rate of 5 % annually through to 2030.

Asia Pacific is fastest growing region in 2023 for Canned Alcoholic Beverages Market.  Owing to Increased awareness about health and fitness among consumers, growing popularity of flavored alcohols and a surge in tourism in the region are additional contributing to the growth of this market. While the liquor market in India has seen change in trends in the 2023 with demand for quality products and mixers growing, especially around the urban areas, the pandemic only hastened the process.

 

“Ready-to-drink (RTD) beverages have been in the market for a few years now and continue to gain popularity in India. The products offer consumers a hassle-free and on-the-go drinking experience. The proliferation of cocktail culture birthed the concept of RTDs. The ease of drinking straight out of the pack and the innovative flavours makes them popular among day-drinkers and youth

 

Canned Alcoholic Beverages Market Scope:

1. In February 2023, Vita Coco, a leading coconut water brand, and Captain Margo, a rum brand, launched the RTD alcohol drink Vita Coco Spiked with Captain Morgan. The new product offers three rum-based cocktails, pina colada, strawberry and lime mojito. The newly launched ‘Vita Coco Spiked with Captain Morgan is commercially available across the United States
2. In February 2023, the fastest growing beer company, Bira 91, announced its entry into the hard seltzers category by launching the ‘Grizly’ hard seltzers ale. The Grizly by Bira 91 brings cocktails, wine and beer in one can. The canned alcoholic beverage by Bira 91 contains all-natural ingredients with low-sugar content.
3. In January 2023, Chicago-based Molson Coors Beverage Company launched ‘Roxie’, a zero-proof canned cocktail. Roxie comes in three flavors in canned packaging, Ripe with Passionfruit, Lost in Mango and Forbidden Pineapple. The company has made canned alcohol available in its online store.
4. In November 2023, Brown-Forman announced the sale of Finlandia vodka to The Coca-Cola Company for $220 million

 

Canned Alcoholic Beverages Market Scope:

Canned Alcoholic Beverages Market
Market Size in 2023	USD 17.21 Bn.
Market Size in 2030	USD 62.1 Bn.
CAGR (2024-2030)	20.12 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segments	by Product       Wine RTD Cocktails Hard Seltzers
	By Distribution Channel          On-Trade Liquor Stores Online Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Russia, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Canned Alcoholic Beverages Market Key Players:

1. Anheuser-Busch InBev (Belgium)
2. Heineken (Netherlands)
3. Carlsberg (Denmark)
4. Molson Coors (Canada)
5. Pernod Ricard (France)
6. Bacardi (Bahamas)
7. Constellation Brands (United States)
8. LVMH (France)
9. Campari Group (Italy)
10. United Breweries Group (India)
11. Carlsberg India (India)
12. Asahi Breweries (Japan)