2024 Canned Alcoholic Beverages Market Size, Share, Growth and Trends Analysis by TBRC

The canned alcoholic beverages market size has grown rapidly in recent years. It will grow from $7.01 billion in 2023 to $7.94 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to outdoor and recreational consumption, changing consumer preferences, marketing and branding strategies, innovative flavors and varieties, retail expansion, rise of craft canned drinks.

The canned alcoholic beverages market size is expected to see rapid growth in the next few years. It will grow to $13.37 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to premiumization, expanding demographic reach, rising popularity of hard seltzers, regulatory changes, societal acceptance, global economic factors. Major trends in the forecast period include ready-to-drink (RTD) cocktails, sustainability and eco-friendly packaging, innovation in flavor combinations, low-calorie and low-sugar options, collaborations and limited editions, online retail and direct-to-consumer (DTC) sales.

Market Overview -
The canned alcoholic beverage is a premixed drink packed in a metal can. Breweries ferment barley, wheat, and other grains to produce beer, while wineries ferment grapes to make wine. The alcohol (ethanol or ethyl alcohol) in canned alcoholic beverages is the ingredient that causes drunkenness.

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Surging Demand For Ready-To-Eat Foods Drives Growth In The Canned Alcoholic Beverages Market
The rising demand for ready-to-eat food and beverages is expected to propel the growth of the canned alcoholic beverages market. Ready-to-eat food and beverages refer to the food and beverages that are pre-cleaned, pre-cooked, and that are used for consumption without prior cooking. The rising demand for ready-to-eat food and beverages also increases the demand for canned alcoholic beverages. For instance, according to the study conducted by Distilled Spirits Council, a United States national trade association in 2021, global consumption of ready drink (RTD) cocktails had increased by 42.3 %. Therefore, the rising demand for ready-to-eat food and beverages is anticipated to promote the growth of the canned alcoholic beverages market.

Competitive Landscape -
Major companies operating in the canned alcoholic beverages market report are Anheuser-Busch Companies LLC, Heineken N.V., Asahi Group Holdings Ltd., Suntory Holdings Limited, Diageo plc, Ball Corporation, Kirin Holdings Company Limited, Crown Holdings Inc., Pernod Ricard, Carlsberg Group, Molson Coors Beverage Company, Constellation Brands, Ardagh Group, Rexam PLC, Bacardi Limited, Brown-Forman Corporation, The Boston Beer Company, Treasury Wine Estates, Stone Brewing Co., CANarchy Craft Brewery Collective, Kona Brewing Co., Brooklyn Brewery, Avery Brewing Company, 21st Amendment Brewery, E. & J. Gallo Winery, Union Wine Company, Integrated Beverage Group LLC, Cigar City Brewing, Barefoot Cellars, Oskar Blues Brewery

Strategic Partnerships Propel Growth In The Canned Alcoholic Beverages Market
Strategic partnerships and collaborations are key trends gaining popularity in the canned alcoholic beverages market. The canned alcoholic beverages manufacturers are strategically partnering and collaborating to broaden products and services. For instance, in January 2021, Diageo, a UK-based beverage company that produces canned alcoholic beverages and other leading wine, beer, and spirits producers formed a global partnership with 12 prominent e-commerce, online retailers, and delivery platforms to establish the online sale of alcohol. Also, in November 2021, Bacardi, a spirit company based in Bermuda, a British island territory partnered with Thirstie, a US-based technology company that connects beverage alcohol brands with consumers to bring Bacardi e-gift cards to the market featuring its portfolio of premium spirit brands.

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Key Segments -
The canned alcoholic beverages market covered in this report is segmented -
1) By Product: Wine, RTD Cocktails, Hard Seltzers
2) By Alcoholic Content: High, Medium, Low
3) By Distribution Channel: On-Trade, Liquor Stores, Online, Other Distribution Channels

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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