According to a Future Market Insights (FMI) report, the global demand for canned alcoholic beverages was around US$ 17,598.2 Million in 2023 and is projected to exhibit a CAGR growth of 11% over the forecast period. The market is estimated to be valued at US$ 20,411.6 Million in 2024 and projected to surpass US$ 92,401.1 Million by 2034.
Consumers are seeking ready to drink alcoholic beverages which is easy to transport and consume in the current period. Canned alcoholic beverages provide consumers with this facility. Increasing developments such as premium alcohol consumption in which customers are ready to pay more for high-quality canned alcoholic beverages. The rising increasing number of local beers and alcohol are typically viewed as more flavorful and sophisticated than regular hard drinks.
The increasing industrialization worldwide is projected to drive the future of the canned alcoholic beverages market. As more individuals consume alcohol, there is significant opportunities are created for the manufacturers.
A growing need for convenience and a rising number of health-conscious individuals are expected to drive the market for hard seltzers. Low-calorie drinks with natural components are likely to be the most popular among consumers as a result, producers are focusing on launching products with natural ingredients in order to gain popularity in the market in the forecast period.
“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.” – says Nandini Roy Choudhury ( client Partner for Food and Beverages at Future Market Insights, Inc.).
Key Takeaways from the Market Study:
- The global canned alcoholic beverages market is estimated to register a CAGR of 11% with a valuation of US$ 92,401.1 Million by 2034.
- The United States is anticipated to dominate the global market by registering a 12% CAGR during the forecast period.
- With a 13.3% CAGR, China is significantly driving the global market by 2034.
- Germany is anticipated to secure a CAGR of 14.7% in the global market during the forecast period.
Competitive Landscape:
In recent years, there has been a surge in investment and collaboration within the industry, with venture capital firms and businesses. These strategic partnerships and financial investments aim to accelerate research and development, scale production, and expand market reach.
Key players have initiated promotional activities to introduce the design and shapes of cans.
Recent Development:
- In 2023, Jack Daniel’s & Coca‑Cola RTD introduced canned cocktails. It’s a premixed cocktail.
- In 2020, Boston Beer Company launched a new line of hard seltzers called Truly Hard Seltzer Lemonade. These seltzers are made with real lemonade and are available in a variety of flavors.
- In 2023, Diageo launched a new line of RTD cocktails called Smirnoff Infusions. These cocktails are made with premium spirits and are available in a variety of flavors.
- In 2021, Pernod Ricard has launched a new line of canned cocktails called Malibu Ready to Serve. These cocktails are made with Malibu rum and are available in a variety of flavors.
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
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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