New York, March 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Canned Alcoholic Beverages Global Market Report 2023" - https://www.reportlinker.com/p06311721/?utm_source=GNW
, Pernod Ricard, Integrated Beverage Group LLC, Constellation Brands, Kona Brewing Co., Suntory Holdings Limited, and Barefoot Cellars.
The global canned alcoholic beverages market grew from $6.29 billion in 2022 to $7.14 billion in 2023 at a compound annual growth rate (CAGR) of 13.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The canned alcoholic beverages market is expected to grow to $12.05 billion in 2027 at a CAGR of 14.0%.
The canned alcoholic beverages market consists of sales of waters and carbonated waters, fruit and vegetable juices and nectars, water-based flavoured carbonated and non-carbonated drinks.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The canned alcoholic beverages is a premixed drink packed in a metal can.Breweries ferment barley, wheat, and other grains to produce beer, while wineries ferment grapes to make wine.
The alcohol (ethanol or ethyl alcohol) in canned alcoholic beverages is the ingredient that causes drunkenness.
North America was the largest region in the canned alcoholic beverages market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the canned alcoholic beverages market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main products of canned alcoholic beverages are wine, RTD cocktails, and hard seltzers.The wine is manufactured from the fermented juice of grapes.
The canned alcoholic beverages are available with high, medium, and low alcoholic content and are distributed through on-trade, liquor stores, online, and other distribution channels.
The rising demand for ready-to-eat food and beverages is expected to propel the growth of the canned alcoholic beverages market.Ready-to-eat food and beverages refer to the food and beverages that are pre-cleaned, pre-cooked, and that are used for consumption without prior cooking.
The rising demand for ready-to-eat food and beverages also increases the demand for canned alcoholic beverages. For instance, according to the study conducted by Distilled Spirits Council, a United States national trade association in 2021, global consumption of ready drink (RTD) cocktails had increased by 42.3 %. Therefore, the rising demand for ready-to-eat food and beverages is anticipated to promote the growth of the canned alcoholic beverages market.
Strategic partnerships and collaborations are key trends gaining popularity in the canned alcoholic beverages market.The canned alcoholic beverages manufacturers are strategically partnering and collaborating to broaden products and services.
For instance, in January 2021, Diageo, a UK-based beverage company that produces canned alcoholic beverages and other leading wine, beer, and spirits producers formed a global partnership with 12 prominent e-commerce, online retailers, and delivery platforms to establish the online sale of alcohol. Also, in November 2021, Bacardi, a spirit company based in Bermuda, a British island territory partnered with Thirstie, a US-based technology company that connects beverage alcohol brands with consumers to bring Bacardi e-gift cards to the market featuring its portfolio of premium spirit brands.
In November 2020, Bacardi Limited, a spirit company based in Bermuda, a British island territory acquired a 100% stake in TAILS for an undisclosed amount.Through the acquisition, Bacardi gained access to a complete range of cocktails that are produced by TAILS.
TAILS serves a wide variety of modern and traditional drinks.TAILS cocktails are produced using the Bacardi range of premium brands and then pre-batched in bottles.
TAILS is a UK-based company operating in canned alcoholic beverages.
The countries covered in the canned alcoholic beverages market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The canned alcoholic beverages market research report is one of a series of new reports that provides canned alcoholic beverages market statistics, including canned alcoholic beverages industry global market size, regional shares, competitors with a canned alcoholic beverages market share, detailed canned alcoholic beverages market segments, market trends and opportunities, and any further data you may need to thrive in the canned alcoholic beverages industry. This canned alcoholic beverages market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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