CANNED ALCOHOLIC BEVERAGES MARKET ANALYSIS

Canned Alcoholic Beverages MarketSize and Trends

The global canned alcoholic beverages market size is estimated to be valued at US$ 6.11 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 13.8% from 2023 to 2030. The global canned alcoholic beverages market is projected to witness strong growth in the near future due to growing preference for convenient travel-friendly canned drinks. Moreover, manufacturers are focusing on creating new attractive flavors in RTD canned alcoholic beverages which is further expected to augment the market growth.

Global Canned Alcoholic Beverages Market Trends:

Gluten-free alcoholic beverages is a recent trend

Gluten-free alcoholic beverages are gaining popularity due to growing number of health conscious and celiac population worldwide. In April 2019, Molson Coors Beverage Company launched a sparkling cocktail called Cape Line Sparkling Cocktails. This new drink is free from gluten and made with natural flavors with an ABV of 4.5%. The 355ml cans are available in four flavors: Margarita, Hard Strawberry Lemonade, White Peach Sangria, and Blackberry Mojito.

Growing number of merger and acquisition

Key manufacturers are adopting various market strategies to cater to the growing demand for RTD cocktails among consumers. For instance, in September 2020, Beam Suntory, Inc., a subsidiary of Suntory Holdings Limited, acquired On The Rocks, a leading RTD cocktail brand. With this acquisition, the company aims to expand its RTD cocktail products across the U.K. These market trends are projected to augment the demand for canned RTD cocktails over the forecast period.