The Canned Alcoholic Beverages Global Market Report 2023 by The Business Research Company, provides canned alcoholic beverages market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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The global canned alcoholic beverages market has exhibited a noteworthy trajectory, as elucidated by The Business Research Company’s Canned Alcoholic Beverages Global Market Report for 2023. In the span from 2022 to 2023, the market size burgeoned from $6.29 billion to a robust $7.14 billion, registering a commendable compound annual growth rate (CAGR) of 13.5%. However, the specter of the Russia-Ukraine war has cast a shadow over the global economic recovery post-COVID-19, inducing short-term disruptions. Economic sanctions, commodity price surges, and supply chain tumults triggered by the conflict have precipitated inflation across goods and services, impacting markets globally. Despite these challenges, the canned alcoholic beverages market is poised for further expansion, projected to reach $12.05 billion by 2027, propelled by a CAGR of 14.0%.
An influential catalyst in this growth trajectory is the escalating demand for ready-to-eat food and beverages. This demand dynamic is reshaping the landscape of the canned alcoholic beverages market. Ready-to-eat food and beverages encompass pre-cleaned and pre-cooked consumables, eliminating the need for prior cooking. The surge in this trend invariably augments the demand for canned alcoholic beverages. A case in point is the findings of a 2021 study by the Distilled Spirits Council, a prominent United States national trade association, which reported a remarkable 42.3% increase in global consumption of ready-to-drink (RTD) cocktails. Consequently, the burgeoning demand for ready-to-eat food and beverages is poised to act as a key driver, fostering the growth trajectory of the canned alcoholic beverages market. This intersection of market dynamics underscores the resilience and adaptability of the industry, navigating through challenges and capitalizing on evolving consumer preferences.
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The canned alcoholic beverages market is segmented:
1) Canned Alcoholic Beverages Market By Product: Wine, RTD Cocktails, Hard Seltzers
2) Canned Alcoholic Beverages Market By Alcoholic Content: High, Medium, Low
3) Canned Alcoholic Beverages Market By Distribution Channel: On-Trade, Liquor Stores, Online, Other Distribution Channels
An emerging and noteworthy trend in the canned alcoholic beverages market is the strategic emphasis on forging robust partnerships and collaborations. Manufacturers in this sector are proactively engaging in strategic alliances to amplify the spectrum of their products and services. A case in point is the strategic move made by Diageo, a UK-based beverage powerhouse renowned for its diverse portfolio of canned alcoholic beverages and other premium libations. In January 2021, Diageo orchestrated a global partnership with 12 influential e-commerce entities, online retailers, and delivery platforms, thereby laying the foundation for a comprehensive online alcohol sales platform. Similarly, Bacardi, a prominent spirit company headquartered in Bermuda, took a strategic leap in November 2021 by forming a collaborative alliance with Thirstie, a US-based technology firm facilitating connections between beverage alcohol brands and consumers. This collaboration aimed at introducing Bacardi e-gift cards into the market, showcasing its distinguished portfolio of premium spirit brands. These strategic partnerships underscore the industry's commitment to innovation and market expansion, marking a paradigm shift towards a more interconnected and dynamic landscape for canned alcoholic beverages.
The canned alcoholic beverages market report table of contents includes:
1. Executive Summary
2. Canned Alcoholic Beverages Market Characteristics
3. Canned Alcoholic Beverages Market Trends And Strategies
4. Canned Alcoholic Beverages – Macro Economic Scenario
5. Canned Alcoholic Beverages Market Size And Growth
.......
26. Africa Canned Alcoholic Beverages Market
27. Canned Alcoholic Beverages Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Canned Alcoholic Beverages Market
29. Canned Alcoholic Beverages Market Future Outlook and Potential Analysis
30. Appendix
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