Selbyville, Delaware, Feb. 04, 2024 (GLOBE NEWSWIRE) --
The canned alcoholic beverages market valuation is projected to surpass USD 196.9 billion by 2032, as reported in a research study by Global Market Insights Inc.
An influx of product launches and the entry of innovation-focused companies are leading to the industry’s uprise. In July 2023, it was announced that 'gay water', which has been a term in the queer community, referring to a vodka soda for years, now has an official launch as ‘Gay Water’ an alcoholic beverage brand rooted in and founded by the LGBTQ+ community. Beyond beverages, it stands as a year-round representation of LGBTQ+ pride. Gay Water, featuring just three ingredients, 80 calories, 4% ABV, and no gluten or sugar, targets health-conscious individuals seeking a balanced alcohol option.
It caters to those prioritizing healthier lifestyles while indulging in alcohol. Launching with four invigorating flavors—watermelon, lime, peach, and grapefruit—Gay Water aims for further product line expansion in the upcoming months. Canned alcoholic beverages offer convenience, catering to the on-the-go lifestyle, further propelling the market expansion.
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The canned alcoholic beverages market from RTD cocktails segment could exhibit a decent growth rate between 2024 to 2032, claims the report. RTD cocktails offer convenience and versatility, blending premium spirits with mixers in pre-packaged cans. This convenient format appeals to consumers seeking on-the-go refreshments without compromising taste or quality. With an array of cocktail options readily available, from classics to innovative blends, RTD cocktails fuel market growth by catering to evolving consumer preferences who seek convenient yet sophisticated drinking experiences. These factors collectively boost the market share from RTD cocktails.
Canned alcoholic beverages market from the on-trade segment will register a noteworthy CAGR during 2024 to 2032, as per the report. Bars, restaurants, and entertainment venues increasingly embrace canned alcoholic beverages due to their convenience, allowing quick service and diverse offerings. These establishments seek to cater to customer preferences for easy-to-serve, portable drinks while maintaining quality. The rise of on-trade distribution elevates market demand as establishments capitalize on the popularity of canned alcoholic beverages, meeting the evolving needs of consumers seeking convenience without compromising on taste.
Asia Pacific canned alcoholic beverages market will register a robust CAGR from 2024 to 2032, owing to shifting consumer preferences. As the region embraces Western drinking trends and convenience-focused lifestyles, canned alcoholic beverages gain popularity. Rising urbanization, changing social norms, and an increasingly young demographic seeking convenient yet trendy options drive market growth. Moreover, the appeal of ready-to-drink options, in line with innovative flavors and attractive packaging, fuels the expansion of the canned alcoholic beverages industry share across the diverse and dynamic Asia Pacific region.
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Some of the leading companies involved in the canned alcoholic beverages market are Union Wine Company, Kona Brewing Co, Suntory Holdings Limited, Anheuser-Busch InBev, E. & J. Gallo Winery, Pernod Ricard, Treasury Wine Estates, Barefoot Cellars, Diageo, Asahi Group Holdings, Ltd, Integrated Beverage Group LLC (IBG), Constellation Brands, Brown-Forman, Bacardi Limited, Sula Vineyards Companies .
For instance, in February 2023, Loyal 9 Cocktails kickstarted summer early with its Fast-Forward to Summer Sweepstakes, offering an exclusive trip to Lemon Country. Nine friends have the chance to kick off their summer with an extraordinary weekend at the Loyal 9 house in sunny Santa Barbara, California.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Industry coverage
1.2 Market scope & definition
1.3 Base estimates & calculations
1.3.1 Data collection
1.4 Forecast parameters
1.5 COVID-19 impact analysis at global level
1.6 Data validation
1.7 Data Sources
1.7.1 Primary
1.7.2 Secondary
1.7.2.1 Paid sources
1.7.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Canned Alcoholic Beverages market 3600 synopsis, 2018 – 2032
2.2 Business trends
2.3 Product trends
2.4 Distribution channels trends
2.5 Regional trends
Chapter 3 Canned Alcoholic Beverages Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Industry pitfalls & challenges
3.3 Growth potential analysis
3.3.1 By Product
3.3.2 By Distribution channels
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Pricing analysis, 2022
3.7 Reimbursement scenario
3.8 Technology landscape
3.9 Future market trends
3.10 GAP analysis
3.11 Porter's analysis
3.12 PESTEL analysis
3.13 Impact of Russia-Ukraine war
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
