insightSLICE

Canned Alcoholic Beverages Market- insightSLICE

The growing trend of RTD beverages has increased the demand for canned alcoholic beverages as they are easy to transport and store.

SANTA ROSA, CALIFORNIA, UNITED STATES, May 15, 2023/EINPresswire.com/ -- The Global Canned Alcoholic Beverages Market Share, Trends, Analysis and Forecasts, 2023-2032 presents extensive information on the latest trends, factors driving the market growth, potential opportunities, and challenges that may impact the industry's market dynamics. It offers a detailed examination of the different market segments, such as type, distribution channel, packaging type, end-user and competitive landscape.

The global canned alcoholic beverages market size was estimated to be US$ 9.45 Billion in 2022 and is expected to reach US$ 48.62 Billion by 2032 at a CAGR of 17.8%. Canned alcoholic beverages are pre-mixed alcoholic drinks that are packaged in cans and sold to consumers for consumption. They are similar to other canned beverages such as soda, beer, or energy drinks but contain alcohol. Canned alcoholic beverages come in a variety of types, including beer, wine, hard seltzer, and pre-mixed cocktails. They are typically sold in single-serving sizes and are easy to carry, making them a popular choice for outdoor activities and events.

GET A SAMPLE REPORT: https://www.insightslice.com/request-sample/1472

Canned alcoholic beverages have become increasingly popular in recent years due to their convenience, portability, and ease of use. They are also popular among consumers who want to enjoy alcoholic drinks without the hassle of preparing them from scratch. Many canned alcoholic beverages are marketed towards young adults who are looking for innovative and unique flavors and lower alcohol content. The canned alcoholic beverages market is expected to continue growing due to changing consumer preferences and increasing demand for convenient packaging options.

Growth driving factors of Global Canned Alcoholic Beverages Market

Following are some of the major factors driving the market –

Convenience and Portability of Canned Alcoholic Beverages:

Canned alcoholic beverages are lightweight, easy to carry, and have a longer shelf life, making them convenient and portable for outdoor activities and events. The popularity of canned alcoholic beverages has increased due to the convenience they offer, which is driving the market growth. For example, the alcoholic beverage company, Mike's Hard Lemonade, launched a line of canned hard seltzer, which became popular for outdoor events such as barbeques, beach parties, and sporting events.

Growing Trend of Ready-to-Drink (RTD) Beverages:

RTD beverages are pre-mixed, bottled or canned alcoholic beverages that can be consumed without any additional preparation, which is a significant advantage for consumers who want to avoid the hassle of mixing or preparing drinks. The growing trend of RTD beverages has increased the demand for canned alcoholic beverages as they are easy to transport and store. For instance, Bacardi launched a range of canned RTD cocktails that includes popular cocktails such as Mojito, Rum Punch, and Bahama Mama.

Changing Consumer Preferences Towards Low-Alcohol Content Beverages:

Consumers are increasingly looking for low-alcohol content beverages due to health concerns and changing lifestyles. Canned alcoholic beverages with lower alcohol content have become popular, especially among young adults who want to enjoy alcoholic beverages without the risk of getting too drunk. For example, Heineken launched a range of low-alcohol canned beer called "Heineken 0.0" that is marketed towards consumers who want to enjoy beer without the alcohol content.

The leading market segments of Global Canned Alcoholic Beverages Market

Based on End-user, the Bars segment is the largest segment in the global canned alcoholic beverages market. This segment accounted for the highest revenue and is expected to continue to dominate the market. There are several reasons why the Bars segment is the largest in the canned alcoholic beverages market. Firstly, bars are a popular destination for socializing and drinking, making them a significant consumer base for canned alcoholic beverages. Secondly, canned alcoholic beverages are convenient and easy to store for bars, as they have a longer shelf life and require less storage space compared to traditional bottled alcoholic beverages. Thirdly, the trend of pre-mixed cocktails and craft beer has been driving the growth of the Bars segment in the canned alcoholic beverages market, as bars are looking to offer unique and innovative drinks to their customers.

Lastly, bars are investing in canned alcoholic beverages due to the increasing demand for convenience and portability in alcoholic beverages among consumers. While the Bars segment is the largest in the canned alcoholic beverages market, the other segments such as hotels, restaurants, and others are also growing at a considerable rate due to increasing demand for canned alcoholic beverages in the hospitality industry.

Geographically, North America is the largest market, driven by the increasing popularity of hard seltzers, craft beer, and RTD cocktails. Europe is also a significant market, with the UK and Germany being the major contributors to the growth of the market. The Asia-Pacific region is expected to witness the highest growth rate during the forecast period, driven by increasing urbanization, rising disposable income, and changing consumer preferences towards low-alcohol content beverages. Japan, China, and Australia are some of the major countries contributing to the growth of the market in the region.

The Middle East and Africa region is expected to witness moderate growth due to the strict regulations on alcohol consumption, while South America is also expected to witness moderate growth, driven by the increasing demand for innovative and unique flavors. Overall, the increasing demand for convenience and portability in alcoholic beverages is driving the growth of the canned alcoholic beverages market across all regions.

DISCUSS MORE DETAILS WITH OUR EXPERTS: https://www.insightslice.com/callwithauthor/1472

The key players of the Global Canned Alcoholic Beverages Market are:

Anheuser-Busch InBev (Belgium), Bacardi Limited (Bermuda), Brown-Forman Corporation (United States), Constellation Brands, Inc. (United States), Diageo plc (United Kingdom), Heineken N.V. (Netherlands), Mark Anthony Brands International (Canada), Mike's Hard Lemonade Co. (United States), Molson Coors Brewing Company (United States and Canada), Pabst Brewing Company (United States), Rexam PLC (United Kingdom), SABMiller plc (United Kingdom), The Boston Beer Company (United States), The Coca-Cola Company (United States), The Gambrinus Company (United States) and Others.

Market Segmentation

Based on Type

• Beer
• Wine
• Spirit-based
• Others

Based on Distribution Channel

• Online
• Offline
• Others

Based on Packaging Type

• Cans
• Bottles
• Others

Based on End-user

• Hotels
• Restaurants
• Bars
• Others

Based on Region

• North America
> United States
> Canada
> Rest of North America

• Europe
> Germany
> United Kingdom
> Italy
> France
> Spain
> Rest of Europe

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

• Middle East & Africa
> UAE
> Saudi Arabia
> South Africa
> Rest of the Middle East & Africa

• South America
> Brazil
> Rest of South America

GET ACCESS OF COMPLETE REPORT: https://www.insightslice.com/buy-now/1472

More Reports:

Freezer Beverage and Wine Cooler Market- https://www.insightslice.com/freezer-beverage-and-wine-cooler-market

Bar Accessories Market- https://www.insightslice.com/bar-accessories-market

Bottled Water Market- https://www.insightslice.com/bottled-water-market

About us:

insightSLICE is a market intelligence and strategy consulting company. The company provides tailor-made and off-the-shelf market research studies. The prime focus of the company is on strategy consulting to provide end-to-end solutions.

Contact us:

Alex
insightSLICE (Same Page Management Consulting Pvt. Ltd.)
+1 707-736-6633
alex@insightslice.com
Visit us on social media:
Twitter
LinkedIn
Other

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.