According to a Future Market Insights (FMI) report, the global canned alcoholic beverages market is poised for significant growth, with an estimated valuation of US$ 20,411.6 million in 2024, set to surge to an impressive US$ 92,401.1 million by 2034, reflecting a remarkable 11% CAGR during this period.
This burgeoning market is driven by a global trend toward convenient and portable beverage packaging, with notable demand in regions such as North America, Gulf Council Countries, China, and Japan. The industry’s robust growth is attributed to the increasing number of alcohol consumers worldwide and the appeal of convenient packaging.
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Market Dynamics: The market’s historical analysis from 2019 to 2023 indicates stable growth, fueled by the rising demand for sustainable packaging options and evolving consumer lifestyles. The trends shaping the canned alcoholic beverages market include the introduction of exotic flavors like sake and tequila in cans, expanding the market scope. Top companies are continuously innovating their portfolios, enhancing alcohol quality, and elevating consumer experiences.
Challenges: However, the market faces challenges, including stringent government regulations on alcohol packaging, varying globally. Additionally, the rising demand for non-alcoholic drinks, driven by health-conscious individuals, poses a potential hurdle.
“The rising R&D activities by can manufacturers such as improving the shapes of cans, the weight of the can, and other factors are also expected to drive the growth of the market. Consumer demand for innovative and handy alcoholic beverages drives the market. The trend toward healthier living has also played a part, as many consumers want lower-calorie options and products made with natural ingredients.” – Nandini Roy Choudhury, Client Partner at Future Market Insights
Adjacent Markets and Categories: Comparative analysis includes the RTD canned cocktail market and the low-alcohol beverages market, offering insights into related segments. Each market exhibits its own growth trends, emphasizing factors like exotic flavors and innovative fermentation methods.
Key Takeaways:
- The canned alcoholic beverages market anticipates remarkable growth, reaching a valuation of US$ 92,401.1 million by 2034.
- Hard seltzers dominate the product type segment, capturing an 88% market share.
- Liquor stores are the preferred distribution channel, holding a 57% market share.
- The market exhibits steady growth trends, with increasing demand for gluten-free alcoholic beverages and innovative flavors.
- Country-wise, the United States, India, Germany, China, and Russia present significant growth opportunities.
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Investor Focus: Investors looking for opportunities in the dynamic B2B canned alcoholic beverages market should consider the sustained growth projections, innovative product developments, and strategic collaborations among key players. The market’s evolution presents a promising landscape for long-term investments.
Competitive Landscape: The competitive landscape sees manufacturers adopting collaborative strategies, leveraging partnerships, mergers, and acquisitions to strengthen brand identities. Recent developments from major players include the introduction of Jack Daniel’s & Coca-Cola RTD canned cocktails, Boston Beer Company’s Truly Hard Seltzer Lemonade line, and Diageo’s Smirnoff Infusions RTD cocktails.
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Key Players Operating in the Global Canned Alcoholic Beverages Market:
- Anheuser-Busch InBev
- Molson Coors Beverage Company
- Diageo
- Heineken Holding N.V.
- Carlsberg Group
- Asahi Group Holdings
- Suntory Beverage & Food Limited
- Kirin Holdings Company, Limited
- SABMiller
- Red Bull GmbH
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Canned Alcoholic Beverages Market Segmentation Analysis:
By Product Type:
- Hard Seltzers
- Wine
- RTD Cocktails
By Distribution Channel:
- Liquor Stores
- On-trade
- Online
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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