Canned Alcoholic Beverages Market Size, Share & Trends Report

Canned Alcoholic Beverages Market Size, Share & Trends Analysis Report By Product (Wine, RTD Cocktails, Hard Seltzers), By Distribution Channel (On-trade, Liquor Stores, Online), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: May, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68038-258-7
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 130

Report Overview

The global canned alcoholic beverages market size was valued at USD 4.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.3% from 2021 to 2028. Canned alcoholic beverages are gaining popularity among consumers since cans are more convenient, portable, and travel-friendly. Moreover, these metal cans are less expensive as compared to glass bottles and have a considerably higher recycling rate than glass.

U.S. canned alcoholic beverages market size, by product, 2016 - 2028 (USD Billion)

The COVID-19 pandemic has encouraged consumers to shift to on-the-go alcoholic beverages. According to a report published by Wine Industry Network LLC in August 2020, canned alcoholic drinks have gained tremendous traction among consumers during the lockdown period. Compared to 2019, the off-premises sales of canned beer/flavored malt beverage (FMB)/cider increased by 25% in 2020.

With a history of over thousands of years, wine has evolved in all its aspects, including its ingredients, methods of preparation, packaging, and consumption. With significant progress in the ingredients and methods of preparation, a large variety of wines has come into existence and is being vigorously marketed.

The growing demand for low-content alcohol-based flavored drinks due to rising health concerns is anticipated to drive the market for canned alcoholic beverages over the forecast period. These drinks are available in a variety of flavors, such as Ready to Drink (RTD) cocktails infused with ginger, rose, and lavender, which makes them the most preferred alcoholic beverage among consumers.

The growing demand for convenience and rising health consciousness among consumers are the major factors driving the demand for hard seltzers. Nowadays, low-calorie drinks with natural ingredients appeal the most to consumers, thus, manufacturers are focusing on launching products with natural ingredients.

Moreover, consumers have been showing a preference for beverages in convenient packaging formats, which is expected to promote the scope of canned alcoholic beverages over the next few years. The growing preference for containers that are more portable and less fragile than glass is boosting the growth of the market for canned alcoholic beverages.

Product Insights

The hand seltzers segment dominated the market for canned alcoholic beverages and held the largest revenue share of 78.9% in 2020 and is expected to maintain dominance over the forecast period. Hard seltzers are carbonated water-based drinks, which are usually infused with fruits and spirits. These have become quite popular among millennials due to their low alcohol content. Low prices of hard seltzer, easy availability across supermarkets and convenience stores are factors anticipated to boost their sales in the upcoming years.

However, the wine segment is projected to register the fastest CAGR of 13.7% from 2021 to 2028. The rising awareness among consumers for more eco-friendly alternatives to plastic bottles coupled with the growing taste for convenient products is propelling the demand for canned wine. Aluminum cans eliminate the efforts required for opening corks in wine bottles.

Distribution Channel Insights

The liquor stores segment dominated the market for canned alcoholic beverages and accounted for the largest revenue share of more than 54.5% in 2020. These stores have been a widespread and well-established distribution channel for canned alcoholic beverages. The wide availability of both premium and private label brands at these stores attract consumers to purchase products through these channels. However, the overall sales of several liquor stores have significantly declined during the pandemic.

Global canned alcoholic beverages market share, by distribution channel, 2020 (%)

The online segment is expected to register the fastest CAGR of 13.6% from 2021 to 2028. The hassle-free shopping experience offered by various online platforms is expected to drive the growth of the segment. Easy payment methods that fit into the regulatory standards of different countries have made transactions a lot easier.

Regional Insights

North America dominated the canned alcoholic beverages market and accounted for the largest revenue share of 53.7% in 2020. Growing per capita expenditure on alcohol, along with the rising availability of alcoholic beverages in attractive packaging styles, is expected to drive the market in North America for canned alcoholic beverages. Consumers with a greater spending capacity and a more sophisticated taste when it comes to beverage choices are driving the demand for premium-class canned alcoholic beverages.

In Asia Pacific, the market for canned alcoholic beverages is expected to witness a CAGR of 13.9% from 2021 to 2028. The major factor driving the market in Asia Pacific is the presence of young consumers and rapidly growing economies. With growing structured market share and increasing spending capacity of consumers, the market is expected to grow at a prominent rate throughout the forecast period.

Key Companies & Market Share Insights

The market is characterized by the presence of a few well-established players and several small and medium players. Mergers and acquisitions are one of the key strategic initiatives in the industry. For instance, in March 2021, Koninklijke Grolsch, a Dutch brewery and a subsidiary of Asahi Group, launched hard seltzer in cans and bottles under the brand name “Viper”. This is the first hard seltzer in the Netherlands that is available in cans as well as bottles. Similarly, in January 2021, E. and J. Gallo Winery announced the launch of its first-ever TTB-approved “zero sugar” premium canned wine in the market. Some of the prominent players in the canned alcoholic beverages market include:

  • Bacardi Limited

  • Diageo plc

  • Brown-Forman Corporation

  • Anheuser-Busch InBev

  • Treasury Wine Estates (TWE)

  • Union Wine Company

  • E. & J. Gallo Winery

  • Asahi Group Holdings, Ltd.

  • Pernod Ricard

  • Integrated Beverage Group LLC

  • Sula Vineyards Pvt. Ltd.

  • Kona Brewing Co.

  • Suntory Holdings Limited

  • Barefoot Cellars

  • Constellation Brands

Canned Alcoholic Beverages Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 5.5 billion

Revenue forecast in 2028

USD 13.4 billion

Growth Rate

CAGR of 13.3% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; U.K.; France; China; Japan; India; Australia; Brazil; South Africa

Key companies profiled

Bacardi Limited; Diageo plc; Brown-Forman Corporation; Anheuser-Busch InBev; Treasury Wine Estates (TWE); Union Wine Company; E. & J. Gallo Winery; Asahi Group Holdings, Ltd.; Pernod Ricard; Integrated Beverage Group LLC; Sula Vineyards Pvt. Ltd.; Kona Brewing Co.; Suntory Holdings Limited; Barefoot Cellars; Constellation Brands

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global canned alcoholic beverages market report on the basis of product, distribution channel, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Wine

      • Still

      • Fortified

      • Low-alcohol

      • Sparkling

    • RTD Cocktails

      • Malt based

      • Spirit based

      • Wine based

    • Hard Seltzers

      • Malt based

      • Spirit based

      • Wine based

      • Sugar based

  • Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)

    • On-Trade

    • Liquor Stores

    • Online

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • Japan

      • Australia

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

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