Lucintel's latest market report analyzed that canned alcoholic beverage provides attractive opportunities in the on-trade, liquor stores, and online markets. The canned alcoholic beverage market is expected to reach $XX billion by 2028 with a CAGR of 21% to 23%. In this market, wine is the largest segment by product, whereas liquor stores is largest by distribution channel. Developing interest for comfort, natural ingredients and convenient packing formats among purchasers provides strategic growth path in this market.
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Based on product, the canned alcoholic beverage market is segmented into wine, RTD cocktails, and hard seltzers. The wine segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to increasing consumer awareness for eco-friendlier alternatives to glass and plastic bottles along with the growing preference for convenient & travel-friendly products. Hard seltzers will remain the largest product type segment due to increasing demand for carbonated water based drink, and its low price and easy availability across supermarket and convenient stores.
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The Canned Alcoholic Beverage Market is marked by the presence of several big and small players. Some of the prominent players offering canned alcoholic beverage include Bacardi Limited, Diageo, Brown-Forman, Union Wine Company, E. & J. Gallo Winery, Asahi Group Holdings, Ltd., Pernod Ricard, Sula Vineyards, Kona Brewing Co., and Suntory Holdings Limited.
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