Canned alcoholic beverages have gained popularity among consumers looking for convenience and ease of handling while enjoying beverages. Canned beer, wines, hard seltzers, and cocktails provide the taste of alcohol in a portable packaging convenient for social and outdoor settings. Canned alcoholic beverages offer advantages like resealable cans preserving freshness, portable cans for on-the-go consumption as well as affordability of single-serve cans. With busy lifestyles and increase in casual outdoor activities, canned beer emerged as an alternative to bottles offering the same tasting experience without the bulk.

The Global Canned Alcoholic Beverages Market is estimated to be valued at US$ 7.94 Billion in 2024 and is expected to exhibit a CAGR of 14% over the forecast period 2024 to 2031.

Key Takeaways

Key players: Key players operating in the canned alcoholic beverages are Diageo plc, Brown-Forman, Pernod Ricard, Bacardi Limited, Suntory Holdings Limited, Asahi Group Holdings, Ltd., Anheuser-Busch InBev, E. & J. Gallo Winery, Constellation Brands, Inc., Treasury Wine Estates, Barefoot Cellars, and Kona Brewing Co.
Growing demand: The global canned alcoholic beverages market is majorly driven by rising disposable income, changing consumer preferences, and growing demand for convenient on-the-go beverage options. Easy availability of flavored alcoholic products is gaining popularity among millennials and younger demographics.
Global expansion: Leading companies in the canned alcoholic beverages market are expanding their global footprint through mergers and acquisitions, exporting canned products to new international markets. Premium brands are launching premium canned cocktails and wines to strengthen their position and benefit from growing demand of canned beverages.

Market key trends

Consumers are increasingly preferring canned hard seltzers flavored with fruits over beers or sugary cocktails. Leading brands like White Claw and Truly are capitalizing on this trend and introducing more variety in terms of flavors and alcohol percentage in their canned seltzers. Their popularity is increasing significantly among health-conscious generation Z and millennial population. This trend towards low-calorie, low-carb, and low-sugar canned beverages is expected to continue driving the market over the forecast period.

Porter’s Analysis

Threat of new entrants: Low barriers to entry given easy availability of raw materials and equipment required for production. However, established brands enjoy advantages of scale and brand recognition.
Bargaining power of buyers: Moderate to high bargaining power due to availability of many substitutes and price sensitive buyers. Buyers can switch to other alcoholic brands easily.
Bargaining power of suppliers: Moderate as there are many suppliers of raw materials like malt, hops and other ingredients. Dependence is relatively less on any single supplier.
Threat of new substitutes: High threat due to availability of substitutes like draught beer, bottled beers and spirits. Product differentiation is less.
Competitive rivalry: Intense competition among existing players to gain market share through extensive marketing, new product launches and expansion to new markets.

The North American region dominates the canned alcoholic beverages market in terms of value holding around 40% share driven by cultural popularity and growing preference for convenient packaging formats among young adults in countries like United States and Canada. Latin America is another major geographical region concentrated with around 20% share led by Brazil, Mexico and Argentina. The Asia Pacific region excluding Japan represents the fastest growing region for canned alcoholic beverages market poised to expand at over 16% CAGR during the forecast period. Growing youth population, development of specialty alcohol culture and innovations targeted at young consumers are driving the market growth in countries like China, India and South Korea.