Canned Alcoholic Beverages Market Size - Global Industry, Share, Analysis, Trends and Forecast 2023 - 2032

The Canned Alcoholic Beverages Market Size accounted for USD 14.8 Billion in 2022 and is projected to achieve a market size of USD 66.5 Billion by 2032 growing at a CAGR of 16.4% from 2023 to 2032.

Canned Alcoholic Beverages Market Highlights

• Global Canned Alcoholic Beverages Market revenue is expected to increase by USD 66.5Billionby 2032, with a16.4%CAGR from 2023 to 2032
• North America region led with more than 90% of Canned Alcoholic Beverages Market share in 2022
• Asia-Pacific Canned Alcoholic Beverages Market growth will record a CAGR of around 16.9% from 2023 to 2032
• By product, the hard seltzers are the largest segment of the market, accounting for over 85% of the global market share
• By distribution channel, the online segment is expected to expand at a significant CAGR of 17.3% between 2023 and 2032
• Rising demand for ready-to-drink products, drives the Canned Alcoholic Beverages Market value

Canned alcoholic beverages refer to alcoholic drinks that are packaged in cans, similar to soft drinks or energy drinks. These beverages encompass a wide variety of options, including beer, cider, cocktails, and even wine, conveniently packaged in portable and recyclable cans. The trend of canned alcoholic beverages has gained significant momentum in recent years due to several factors. One of the primary drivers is the convenience they offer. Cans are lightweight, easy to transport, and don't require bottle openers, making them ideal for outdoor events, parties, and picnics. Additionally, cans provide better protection against light and oxygen, preserving the freshness and quality of the beverages inside.

In terms of market growth, the canned alcoholic beverages industry has experienced remarkable expansion. The market is driven by consumer demand for innovative and convenient alcoholic options. The shift towards healthier lifestyles has also played a role, as many consumers prefer lower-calorie options and products with natural ingredients, which some canned beverages cater to. The market growth is also influenced by the increasing popularity of online sales and delivery services, enabling consumers to explore and purchase a diverse range of canned alcoholic beverages from the comfort of their homes. Furthermore, the COVID-19 pandemic accelerated the adoption of online alcohol sales, further boosting the market.

Global Canned Alcoholic Beverages Market Trends

Market Drivers

• Rising demand for ready-to-drink products
• Innovative flavors and packaging
• Millennial and Gen Z consumer preferences
• Increasing disposable income

Market Restraints

• Regulatory challenges and compliance
• Health concerns and awareness
• Competition from traditional alcoholic beverages

Market Opportunities

• Health-conscious product innovations
• E-commerce and direct-to-consumer sales

Canned Alcoholic Beverages Market Report Coverage

Canning alcoholic drinks offers several advantages, such as convenience, portability, and easy storage. The packaging in cans provides a lightweight and durable option, making them ideal for outdoor events, picnics, parties, and other social gatherings. Additionally, cans protect the beverages from light and air, preserving their freshness and flavor for a longer period compared to bottles. Canned alcoholic beverages have become increasingly popular due to their easy accessibility and the ability to enjoy a wide range of drinks without the need for extensive bartending skills or equipment.

The applications of canned alcoholic beverages are diverse and cater to a broad consumer base. One of the primary applications is in the consumer retail market, where these beverages are sold in supermarkets, liquor stores, and convenience stores. The convenience factor makes them a popular choice for consumers looking for ready-to-consume options without the need for additional mixing or preparation. Canned alcoholic beverages have also found a significant market in the hospitality and events industry, where they are served at bars, restaurants, concerts, festivals, and sporting events. The easy serving and disposal of cans make them a practical choice for venues with high foot traffic. Furthermore, these beverages have gained traction in the e-commerce sector, with many online retailers offering a wide selection of canned alcoholic drinks for home delivery.

The market for canned alcoholic beverages has witnessed significant growth in recent years, driven by changing consumer preferences and lifestyle choices. One of the key factors contributing to this growth is the increasing demand for convenient and portable options among consumers. Cans provide a practical and lightweight packaging solution, making them ideal for outdoor events, picnics, and social gatherings. The convenience factor, coupled with the rising trend of on-the-go consumption, has led to a surge in the popularity of canned alcoholic drinks, appealing to a broad consumer base, especially millennials and young adults. Additionally, the market growth can be attributed to the continuous innovation in flavors and product offerings. Beverage companies are introducing a wide range of options, including craft beers, flavored seltzers, and ready-to-drink cocktails, catering to diverse tastes and preferences. Creative and unique flavor profiles, often incorporating natural ingredients and exotic flavors, have captivated consumers, driving sales and market expansion.

Canned Alcoholic Beverages Market Segmentation

The global Canned Alcoholic Beverages Market segmentation is based on product, distribution channel, and geography.

Canned Alcoholic Beverages Market By Product

• Hard Seltzers
• RTD Cocktails
• Wine

In terms of products, the hard seltzers segment accounted for the largest market share in 2022. This segment's remarkable growth can be attributed to several factors, one being the shift towards healthier drinking choices. With an increased focus on wellness, consumers are actively seeking alternatives to traditional high-calorie and sugary alcoholic beverages. Hard seltzers, often marketed as light and refreshing options, have successfully tapped into this health-conscious demographic, attracting both fitness enthusiasts and individuals looking for a guilt-free drinking experience. Another driving force behind the growth of hard seltzers is their versatility and variety in flavors. Beverage companies have been quick to innovate, offering a wide array of flavors ranging from classic fruits like lime and black cherry to more exotic options like dragon fruit and hibiscus. This diverse flavor profile appeals to a broad audience, including millennials and younger consumers, who are constantly seeking novel and exciting taste experiences.

Canned Alcoholic Beverages Market By Distribution Channel

• Liquor Stores
• Online
• On-trade
• Others

According to the canned alcoholic beverages market forecast, the online segment is expected to witness significant growth in the coming years. One of the key factors contributing to this growth is the increasing prevalence of e-commerce platforms and the ease of online transactions. With the rise of online grocery delivery services and specialized alcohol delivery platforms, consumers now have the convenience of ordering their favorite canned alcoholic beverages from the comfort of their homes. This trend has been particularly significant in the wake of the COVID-19 pandemic, as consumers turned to online channels for safe and contactless shopping experiences. The online segment offers a wide variety of choices, allowing consumers to explore different brands, flavors, and types of canned alcoholic drinks, which might not always be available at local brick-and-mortar stores. Additionally, digital marketing and social media have played a pivotal role in driving online sales of canned alcoholic beverages. Beverage companies leverage social media platforms to reach a broader audience, engage with consumers, and promote their products effectively.

Canned Alcoholic Beverages Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)