Canned Alcoholic Beverages Market Size, Share & Trends Analysis Report By Product (Wine, RTD Cocktails, Hard Seltzers), By Distribution Channel (On-trade, Liquor Stores, Online), By Region, And Segment Forecasts, 2021 – 2028
New York, June 21, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Canned Alcoholic Beverages Market Size, Share & Trends Analysis Report By Product, By Distribution Channel, By Region And Segment Forecasts, 2021 – 2028” – https://www.reportlinker.com/p06096556/?utm_source=GNW
Canned Alcoholic Beverages Market Growth & Trends
The global canned alcoholic beverages market size is expected to reach USD 13.4 billion by 2028. The market is expected to expand at a CAGR of 13.3% from 2021 to 2028. Canned alcoholic beverages are gaining popularity among consumers since cans are more convenient, portable, and travel-friendly. Moreover, these metal cans are less expensive as compared to glass bottles and have a considerably higher recycling rate than glass.
The hand seltzers segment held the largest revenue share in 2020 and is expected to maintain its dominance over the forecast period.Hard seltzers are carbonated water-based drinks, which are usually infused with fruits and spirits.
These have become quite popular among millennials due to their low alcohol content. Low prices of hard seltzer, easy availability across supermarkets and convenience stores are factors anticipated to boost their sales in the upcoming years.
The liquor stores segment contributed a majority of the share to become the largest division in the global revenue in 2020.These stores have been a widespread and well-established distribution channel for canned alcoholic beverages.
The wide availability of both premium and private label brands at these stores attract consumers to purchase products through these channels.
The market is fragmented in nature, with the presence of a large number of global and regional players. Bacardi Limited, Diageo plc, Brown-Forman Corporation, Anheuser-Busch In Bev, Treasury Wine Estates (TWE), Union Wine Company, E. and J. Gallo Winery, Asahi Group Holdings, Ltd., Kona Brewing Co., Suntory Holdings Limited, Barefoot Cellars, Constellation Brands are among the prominent players in the global market.
Canned Alcoholic Beverages Market Report Highlights
• In Asia Pacific, the market is expected to witness a CAGR of 13.9% from 2021 to 2028. The major factor driving the market in the region is the presence of young consumers and rapidly growing economies
• The wine segment is projected to register the fastest CAGR of 13.7% from 2021 to 2028. The rising awareness among consumers for more eco-friendly alternatives to plastic bottles coupled with the growing taste for convenient products is propelling the demand for canned wine
• The online segment is expected to register the fastest CAGR of 13.6% from 2021 to 2028. The hassle-free shopping experience offered by various online platforms is expected to drive the growth of the segment
Read the full report: https://www.reportlinker.com/p06096556/?utm_source=GNW
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