Published Date : 20 Apr 2023
The canned alcoholic beverages industry size will increase to USD 66.16 billion by 2032 from valued USD 14.96 billion in 2022, It is growing at a CAGR of 16.03% from 2023 to 2032.
The canned alcoholic beverages industry growth is driven by the increasing inclination toward convenience and premiumization, growing disposable income, and innovation in canned alcoholic beverages.
Pre-mixed cocktails packaged in a metal can are what are known as canned alcoholic beverages. Aluminum or steel are the two kinds of metal that are used to make cans that contain alcoholic beverages. With the rising demand for the premiumization of alcoholic beverage packaging, the use of cans for alcoholic beverages has grown in recent years.
Additionally, canned alcoholic beverages are becoming more and more popular because they can maintain the flavor of the drinks while still allowing for fresh consumption. Alcoholic drinks that are canned are relatively stable because steel or aluminum can lessen oxidation. Alcoholic drinks that are packaged can have a longer shelf life and stay fresh even when the weather is bad.
North America is expected to hold a significant revenue share over the forecast period. The canned alcoholic beverage industry in North America is anticipated to be driven by the availability of alcoholic beverages in visually appealing container designs and increasing per capita alcohol consumption. Consumer demand for premium-class canned alcoholic beverages is being driven by their increased purchasing power and sophisticated beverage tastes. Furthermore, it is anticipated that the premiumization of the product and the addition of new flavors will foster category expansion.
Europe is expected to grow at the highest CAGR over the forecast period. France, Germany, Ireland, Belarus, and France are among the nations with significant alcohol consumption rates per capita. The region is anticipated to experience significant demand for canned alcoholic drinks during the projected period due to the increasing export and consumption of alcohol from European nations.
The Asia Pacific is expected to grow at the fastest rate during the forecast period. The availability of reasonably priced alcoholic beverages has been credited for the expansion of the canned alcoholic beverage industry in Asia and the Pacific. The industry is anticipated to grow faster due to the change in consumer preference towards canned beverages in Asia Pacific. Several well-known producers of canned alcoholic drinks in the Asia Pacific region include Asahi Group Holdings, Sula Vineyards, and Suntory Holdings Limited.
Canned Alcoholic Beverages Industry Report Scope:
|Market Size in 2022||USD 14.96 Billion|
|Projected Forecast Value in 2032||USD 66.16 Billion|
|Growth Rate||16.03% from 2023 to 2032|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
Rise in Preference for Convenience and Premiumization
The rising demand for ready-to-eat and ready-to-drink products among consumers, along with their hectic lifestyles and demanding work schedules, are all contributing to the rise in the demand for canned alcoholic drinks. It is expected that a rise in the number of people joining the labor force and the proportion of women will fuel the industry for canned alcoholic beverages. As opposed to alcoholic beverages in bottles, users can easily finish a complete can due to the individually-sized servings.
Additionally, establishments that serve alcohol in cans discover that they are the ideal portion-controlled pour that requires no guessing and results in neither over-pours nor under-pours. The increasing propensity of millennials for alcoholic beverages is predicted to have a significant impact on the industry expansion. This industry may have more space to expand as premium, organic, and canned beverages are becoming more and more popular.
Hazardous effect of the material
Thin plastic coatings are applied to the interior of aluminum cans by the makers to prevent aluminium from leaking into beverages and exposing them to dangerous amounts of bisphenol A. (BPA). Customers may experience unfavourable side effects and health issues like cancer, sterility, and polycystic ovarian disease as a result of this.
Aluminum cans are recyclable, but according to the container recycling institute, half of all aluminium cans ultimately end up in landfills, leading to an increase in the production of new cans. Smog and acid rain are produced as a consequence of the release of sulphur dioxide and nitrogen dioxide during the melting of aluminium.
Innovation in canned alcoholic beverages
The canned alcoholic beverage industry is seeing a wide range of potential opportunities due to the desire for premium and low-alcohol beverages on a global scale. Manufacturers should have a variety of options due to innovation in the products that use botanical and organic ingredients in vibrant flavors. Due to the rise in celiac disease cases worldwide, it is expected that alcoholic beverages made without gluten will have a significant growth potential. In the Americas, celiac disease affects one in 133 people, but fewer than one in five of those individuals obtain a diagnosis.
Key Market Players:
By Alcoholic Content
By Distribution Channel
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