The canned alcoholic beverages market will experience a positive growth cycle during the assessment period 2020-2030. The growing demand for canned alcoholic beverages due to properties such as usability, convenience, portability, and others will have a significant impact on the growth of the canned alcoholic beverages market.
Canned Alcoholic Beverages Market: Overview
The canned alcoholic beverages market will experience a positive growth cycle during the assessment period 2020-2030. The growing demand for canned alcoholic beverages due to properties such as usability, convenience, portability, and others will have a significant impact on the growth of the canned alcoholic beverages market. Additionally, metal cans are easier to use than glass bottles due to their high recycling rate. Thus, all of these aspects will invite great growth opportunities throughout the forecast period.
Canned alcoholic beverages are ready-to-drink drinks without the need to mix them. These drinks are premixed and are available in different flavors. The ease of use associated with beverages will drive significant growth in the canned alcoholic beverage market. An increase in demand for canned alcoholic beverages due to simple and easy packaging format will also bring huge growth prospects. These factors bode well for the growth of the canned alcoholic beverage market.
Canned alcoholic beverages, based on the product, can be classified into wine (low alcohol, still, sparkling, fortified), hard spirit (sugar-based, malt-based, wine, spirits-based) and RTD cocktails (wine-based, spirits-based, malt-based). These drinks are distributed to consumers through various distribution channels such as liquor stores, liquor stores, online and others.
Canned Alcoholic Beverages Market: Competitive Outlook
The canned alcoholic beverage market is very competitive. At the core of the canned alcoholic beverages market growth are many established and new players. The players engage in new product launches and expansion activities to enable transparent production and distribution of canned alcoholic beverages. Actors are also involved in developing advertising strategies that help attract many individuals to their brands.
Many well-established names in the alcohol industry are entering the canned alcoholic beverage market seeing its exceptional potential. New entrants are also entering the canned alcoholic beverage market with new flavors and blends, which ultimately help to increase the growth rate of the canned alcoholic beverage market.
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Some well-established players in the canned alcoholic beverage market are Treasury Wine Estates (TWE), Integrated Beverage Group LLC, Constellation Brands, Brown-Forman Corporation, Suntory Holdings Limited, Asahi Group Holdings, Ltd., Sula Vineyards Pvt. Ltd., and E. & J. Gallo Winery.
Canned Alcoholic Beverages Market: Recent Developments
The growing popularity of canned alcoholic beverages is prompting many players to launch new products and flavors. The trend of drinks like hard soda and ready-to-drink (RTD) cocktails is on the rise and hence all of these factors are reversing the growth in the canned alcoholic beverage market. Some of the major developments in the canned alcoholic beverages market categorized by their product types are as follows:
In addition to its line of traditional beers, the Orono Brewing Company has launched its line of hard salts named Wild Maine Hard Seltzer.
Heineken recently entered the hard seltzer business with the launch of Pure Pirana. This brand will specifically target hard seltzers.
Jim Bean, a United States-based bourbon brand, recently launched Bourbon-based RTD cocktails.
Bacardi recently expanded its line of RTD cocktails by adding three new flavors. It launched its line of RTD cocktails last year.
Vice Wine recently unveiled its range of luxury canned wines.
Popular wine brand from India, Sula, recently launched its first canned wine, Dia Sparkler, with flavors of white and red wine.
These developments are having a profound impact on the growth of the canned alcoholic beverages market.
Canned Alcoholic Beverages Market: Regional Perspective
The canned alcoholic beverage market in North America is expected to become dominant throughout the assessment period. The growing demand for ready-to-use drinks and pre-mixed flavors will drive exceptional growth. The canned alcoholic beverages market in Asia-Pacific is also expected to grow rapidly due to the growing awareness of the people.
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