Global canned alcohol market to reach $45.72bn by 2030
The global canned alcoholic beverages market size was valued at $9.20billion in 2021. It is projected to reach $45.72billion by 2030, growing at a CAGR of 19.5% during the forecast period (2022–2030), according to a new report by Straits Research.
North America is the most significant revenue contributor and is expected to grow at a CAGR of 19% during the forecast period.
Canned alcoholic beverages comprise ready-to-consume drinks without any need for mixing. These beverages are premixed and are available in different flavours.
Alcoholic beverages in cans are growing in popularity among consumers due to their greater portability, convenience, and travel-friendliness. Canned alcoholic beverages will experience a boom in demand due to their simple and practical packaging, which offers excellent growth potential.
The demand for canned alcoholic beverages is increasing due to customers’ increased preference for ready-to-eat and ready-to-drink products and their busy lifestyles and demanding work schedules.
The market for canned alcoholic beverages is anticipated to be driven by an increasing number of people entering the labor force and a rising percentage of women. Users can easily consume a whole can in one sitting compared to alcoholic beverages in bottles because of the individually-sized servings.
Furthermore, bars and restaurants that sell canned alcoholic beverages find that they are the perfect portion-controlled pour that requires no guesswork and produces neither over- nor under-pours.
It is projected that millennials’ growing inclination toward alcoholic beverages would substantially impact the market’s growth. The rising popularity of premium, organic, and canned beverages could give this sector more room to grow.