Canned Alcoholic Beverages Market

Canned Alcoholic Beverages Market Overview for 2024 to 2034

The canned alcoholic beverages market size is estimated to be USD 20,411.6 million in 2024. The market is estimated to cross a valuation of USD 92,401.1 million by 2034. Market analysis suggests that the trend of choosing canned alcoholic beverages is driven by a rise in alcohol-consuming individuals and convenience packaging worldwide.

Canned Alcoholic Beverages Market Size, Analysis and Insights:

• Due to rising demand for portable, convenient, and handy beverage packaging, the market is gaining immense and lucrative growth in regions such as North America, Gulf Council Countries, China, and Japan. The strong presence of the manufacturing industries worldwide drives the market's growth.
• Increasing affordability introducing new flavours, and packaging options are expected to create immense opportunities for the market in the forecast period. The top companies are continuously evolving their portfolios with innovative designs, upgrading alcohol, and providing greater consumer experiences.
• Manufacturers maintain consistent quality in can manufacturing or canned alcoholic beverages and meet the regulatory requirements. Increasingly using environmentally friendly packaging from individuals is expected to create lucrative opportunities for the market.

Attributes	Details
Global Canned Alcoholic Beverages Market Value for 2024	USD 20,411.6 million
Projected Market Value for 2034	USD 92,401.1 million
Value-based CAGR of Market for 2024 to 2034	11%

Historical Analysis of the Canned Alcoholic Beverages Market

The canned alcoholic beverages market witnessed demand growth at a stable rate during the historical period from 2019 to 2023. The rising need for sustainable packaging options, lifestyle changes, and other factors are all suggested to contribute to the immense growth in the market.

Historical market valuation, 2023	USD 17,598.2 million

Trends in the Canned Alcoholic Beverages Market

• The rising need for convenience alcohol packaging worldwide is expected to create lucrative opportunities for the market in the forecast period. The Market shows steady growth with a promising future for manufacturers
• Alcoholic drinks not traditionally associated with cans are now getting the can treatment. Drinks like sake and tequila are also available in cans. The scope of the market is not narrow and ever-widening.
• Manufacturers are growing their presence in new markets across the globe. Manufacturing businesses are increasingly focused on creating beneficial partnerships with retailers to increase brand awareness, which is projected to boost the market throughout the forecast period.
• The rising need for convenience alcohol packaging and ready-to-drink RTD cocktails worldwide is expected to create lucrative opportunities for the market in the forecast period. The Market shows steady growth with a promising future for manufacturers.
• The growing demand for gluten-free alcoholic beverages across the world is contributing to the growth of the market in the current period. Moreover, gluten-free alcohol consumption is increasing due to the rising celiac population worldwide.
• The increasing need for affordability among individuals worldwide is one of the major trends in the market in the current period. Furthermore, the availability of canned alcoholic beverages in various retail channels, such as liquor stores, convenience stores, and online platforms, is driving market expansion. The sales of canned alcoholic beverages in supermarkets have received official authorization from many nations, boosting business growth.
• The manufacturers are increasingly focusing on new developments that provide precise offerings while recycling waste material. The wine and alcohol sectors are also predicted to contribute to market expansion.

Challenges for the Canned Alcoholic Beverages Market

• Increasing stringent government rules for the can as a packaging option for alcohol packaging is projected to hamper the market in the forecast period. Different countries worldwide have different rules and regulations for alcohol consumption.
• The rising demand for non-alcoholic drinks worldwide is owing to an increasing number of health-conscious individuals and diseases such as obesity and other diseases. Individuals are choosing healthy drinks over alcoholic drinks nowadays.

Category-wise Outlook

The canned alcoholic beverages market can be split up into two segments: product type and distribution channel. The dominance of the leaders in the segments is also observed.

Hard Seltzers Segment Dominates the Market by Product Type

The hard seltzers segment holds an 88% share and takes the lead among product types over the forecast period. The hard seltzers segment is dominating the market because hard seltzers are lower in alcohol and calories than other segments. Hard seltzer sales are expected to increase due to factors such as low cost and simple availability in supermarkets and convenience stores. Hard seltzers are considered a healthy choice because they contain fewer calories and sugar than other alcoholic beverages.

Attributes	Details
Product Type	Hard Seltzers
Market Share in 2024	88%

Liquor Stores Segment Dominates the Market by Distribution Channel

The liquor stores segment is expected to hold a market share of 57% over the forecast period owing to advantages such as the availability of a wide range of liquor in one place. As a result, consumers choose liquor stores over online or on-trade stores. There are several premium and private brands of alcoholic beverages available at numerous liquor stores located all over the world. Because of the image of higher quality and authenticity, consumers who want alcoholic beverages frequently choose to buy them from liquor stores.

Attributes	Details
Distribution Channel	Liquor Stores
Market Share in 2024	57%

Country-Wise Analysis

The scope of the market is increasing with time. However, certain regions account for a majority of the share in the market. The rising trends in Europe and North America are aiding sales of alcohol. The increasing demand for RTD cocktails in the Asia Pacific aids the growth of the market in the region.

Countries	CAGR in 2024
United States	12.0%
India	15.0%
Germany	14.7%
China	13.3%
Russia	12.8%

Canned Alcoholic Beverages Market in the United States

The canned alcoholic beverages industry in the United States is projected to rise at a CAGR of 12.0% through 2034.

• The increasing popularity of hard seltzers among individuals, owing to their characterization, such as low alcohol content and types of flavor essences, is expected to create significant opportunities in the market.
• The alcohol manufacturers in the United States are raising focus on developments for innovative products, which is expected to drive the canned alcoholic beverages market.
• American consumers are increasingly choosing "less but better" alcohol options that contain malt contents and barely. Moreover, beer has gained significant popularity in the region, which is projected to create immense opportunities for market growth in the forecast period.

Canned Alcoholic Beverages Market in India

The canned alcoholic beverages industry in India is projected to rise at a CAGR of 15.0% through 2034.

• Rising exposure to a Western lifestyle and drinks gaining popularity and prominence in the country.
• Rising disposable income among the middle-class population is expected to create lucrative opportunities for the canned alcoholic beverages market in the forecast period.
• Increasing resistance to domestic liquor is also projected to drive the market demand for the forecast period. Consumers have become increasingly aware of the disadvantages of domestic liquors over the period.
• Growing the modern lifestyle factor among individuals is expected to create significant opportunities for the market in the forecast period. Japanese manufacturers are known for their high-quality products.

Canned Alcoholic Beverages Market in Germany

The canned alcoholic beverages industry in Germany is projected to rise at a CAGR of 14.7% through 2034.

• The growing rate of the aging population in Germany leads to more alcohol consumption in the region.
• Increasing consumption of low-alcohol-content drinks is projected to drive the growth of the market in the forecast period.
• Rising demand for the convenience packaging option for alcohol while doing work is further contributing to the growth of the market. Increasing R&D activities for the improvements in cans, such as reshaping and others, is expected to create lucrative opportunities for the market.
• The companies are expanding their presence in the German market and are investing in research and development to develop new designs and shapes which is more convenient.

Canned Alcoholic Beverages Market in China

The canned alcoholic beverages industry in China is projected to rise at a CAGR of 13.3% through 2034.

• The increasing millennial population in the region contributes to the growth of the market. Moreover, increasing the use of canned alcoholic beverages in social events and parties holds promise in the projected period.
• The growing demand for less alcohol-content liquor is expected to create lucrative opportunities for the market.

Competitive Landscape in the Canned Alcoholic Beverages Market

Manufacturers are taking advantage of partnerships, mergers with other manufacturers in the market, acquisitions, and more collaborative strategies. The key players are increasingly leveraging the benefits of collaborations.

To increase client loyalty, manufacturers are developing strong brand identities through efficient marketing initiatives. Making manufacturing processes, investing in automation, and optimizing the supply chain to increase capacity and satisfy rising demand.

Recent Developments in the Canned Alcoholic Beverages Market:

• In 2023, Jack Daniel's & Coca?Cola RTD introduced canned cocktails. It's a pre-mixed cocktail.
• In 2020, Boston Beer Company launched a new line of hard seltzers called Truly Hard Seltzer Lemonade. These seltzers are made with real lemonade and are available in a variety of flavors.
• In 2023, Diageo launched a new line of RTD cocktails called Smirnoff Infusions. These cocktails are made with premium spirits and are available in a variety of flavors.
• In 2021, Pernod Ricard launched a new canned canned cocktails called Malibu Ready to Serve. These cocktails are made with Malibu rum and are available in a variety of flavors.
• In 2021, Bacardi extended its canned drink offerings, including BACARD Sunset Punch, BACARD Bahama Mama, and BACARD Mojito in various flavors. These naturally flavored, gluten-free items are made with real ingredients and no artificial sweeteners.
• In 2023, Bira 91, the leading beer manufacturing firm, launched their hard seltzer called "Grizzly," which offers beer, Wine, and cocktails in one can. These cocktails are made with all-natural and low-sugar components.

Canned Alcoholic Beverages Market Key Players

• Anheuser-Busch InBev
• Molson Coors Beverage Company
• Diageo
• Heineken Holding N.V.
• Carlsberg Group
• Asahi Group Holdings
• Suntory Beverage & Food Limited
• Kirin Holdings Company, Limited
• SABMiller
• Red Bull GmbH

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product
  • 5.1. Wine
    • 5.1.1. Still
    • 5.1.2. Fortified
    • 5.1.3. Low-alcohol
    • 5.1.4. Sparkling
  • 5.2. RTD Cocktails
    • 5.2.1. Malt based
    • 5.2.2. Spirit based
    • 5.2.3. Wine based
  • 5.3. Hard Seltzers
    • 5.3.1. Malt based
    • 5.3.2. Spirit based
    • 5.3.3. Wine based
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel
  • 6.1. On-trade
  • 6.2. Liquor Stores
  • 6.3. Online
  • 6.4. Others
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 7.1. North America
  • 7.2. Latin America
  • 7.3. Western Europe
  • 7.4. Eastern Europe
  • 7.5. South Asia and Pacific
  • 7.6. East Asia
  • 7.7. Middle East and Africa
• 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Key Countries Market Analysis
• 16. Market Structure Analysis
• 17. Competition Analysis
  • 17.1. Bacardi Limited
  • 17.2. Diageo
  • 17.3. Brown-Forman
  • 17.4. Anheuser-Busch InBev
  • 17.5. Treasury Wine Estates
  • 17.6. Union Wine Company
  • 17.7. E. & J. Gallo Winery
  • 17.8. Asahi Group Holdings, Ltd.
  • 17.9. Pernod Ricard
  • 17.10. Integrated Beverage Group LLC (IBG)
  • 17.11. Sula Vineyards
  • 17.12. Kona Brewing Co.
  • 17.13. Suntory Holdings Limited
  • 17.14. Barefoot Cellars
  • 17.15. Constellation Brands
• 18. Assumptions & Acronyms Used
• 19. Research Methodology