USD 241.5 million
Report ID: SQMIG30E2033 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 62 | Figures: 74
Global Canned Wine Market size was valued at USD 241.5 million in 2021 and is poised to grow from USD 272.9 million in 2022 to USD 725.48 million by 2030, growing at a CAGR of 13% in the forecast period (2023-2030).
The main factor driving this market is the growing market for portable, single-serve beverages that are both convenient and cost efficient. The demand for the product is being driven by a growing consumer demand for ready-to-eat and ready-to-drink goods because of their busy lifestyles and demanding work schedules. Regional markets in several important countries have benefitted from the COVID-19 pandemic.
Can sales of beer, flavored malt beverages (FMB), or cider increased off-premises by 25% in 2021 as compared to 2020. Canned wine is becoming more and more popular among consumers all over the world. This is due to its mobility and ease of storing wine cold on beaches, overnight camping trips, and other outdoor leisure activities. Also, compared to plastic bottles, these metal cans are less expensive and have a much higher rate for recycling.
The demand for portable drinks like bottled wine has increased as outdoor recreational activities including overnight camping, RV camping, fishing, and hiking have become more and more popular.
Also, due to rising environmental and health consciousness, consumers are more prepared to spend money on convenient, organic, and nutritious meals and drinks with sustainable packaging. As a result, there will be a rise in the demand for canned foods, which will encourage industry growth. Studies show as relative to other packaging options, aluminum cans are less expensive, simpler to store, and more convenient to stack, which causes less breakage.
Global Market Size
USD 241.5 million
Supermarket & Hypermarket,
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The global canned wine Market is segmented based on product, distribution channel and region. Based on Product the market is segmented into sparkling, fortified, and others. In terms of segmentation by distribution channel, the market is categorized into supermarket & hypermarket, online and other stores. Regionwise, the global canned wine market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product
The sparkling product segment dominated the market in 2021 with a revenue share of more than 66%. It is anticipated that this trend will continue throughout the forecast period. Major rivals in this sector are launching new products in an attempt to retain current consumers satisfied and attract new revenues for the overall market in the forecast duration.
For instance, in February 2020, Sula Vineyards, India's renowned wine brand, announced the debut of its first-ever canned wine under the brand name 'Día Sparkler'. All through the forecast period, the fortified product segment is anticipated to record the quickest CAGR. Customers love the newly introduced fortified wine and hard spirit combos as they receive the taste and flavor of both the wine and the spirit in a single item.
Analysis by Distribution Channel
The distribution channel for hypermarkets and supermarkets produced more than 64% of all revenue in 2022. Major product manufacturers are making their items available through offline sales channels due to the rise in supermarkets and hypermarkets around the world. To enhance customer penetration, major grocery chains are opening new outlets in numerous places. For instance, SPAR announced in January 2021 that their affiliated businesses are opening additional locations across Spain to meet the escalating consumer demand.
The online distribution channels are expected to experience the highest CAGR between 2023 and 2030. Online sales channels, such as official websites, are very advantageous because they provide both fundamental information about wine and its consumption to novice wine drinkers and in-depth information on exceptional wines or specific vintage collections to knowledgeable consumers, such as experts and connoisseurs. As they allow customers to buy directly from the manufacturer instead of indirect ways, which are typically more expensive, rare consumers prefer online sales channels.
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North America earned the largest share in the global canned wine market with a revenue share of more than 53%. The region is further anticipated to grow at a steady CAGR due to high product demand. The majority of consumers are embracing canned wines more and more due to their comfort and mobility during travel and activities. Also, compared to glass bottles and other forms of packaging, aluminum cans offer a number of noteworthy advantages.
Asia Pacific is expected to grow at a rapid speed during the forecast period. In terms of volume, Asia Pacific is the third largest region for wine consumption, with nations such as China, Japan, South Korea, and India being key contributors. Wine is becoming increasingly popular among young and working-class people, and nations like India are also seeing high demand for such products.
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Top Player’s Company Profiles
The Wine Group LLC
Precept Wine Brands LLC
Underwood Wines, LLC
Infinite Monkey Theorem
Alloy Wine Works
Francis Ford Coppola Winery
West + Wilder
Bridge Lane Wine
Amble + Chase
The Drop Wine
The Infinite Monkey Theorem
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Canned Wine market is the main factor driving market growth is the growing market for portable, single-serve beverages that really are convenient. The demand for the product is being driven by a growing consumer demand for ready-to-eat and ready-to-drink goods because of their busy lifestyles and demanding work schedules. Also, due to rising environmental and health consciousness, consumers are more prepared to spend money on convenient, organic, and nutritious meals and drinks with sustainable packaging. As a result, there will be a rise in the demand for canned foods, which will encourage industry growth. Studies show as relative to other packaging options, aluminum cans are less expensive, simpler to store, and more convenient to stack, which causes less breakage. A large industry for the company to expand during the projection period due to the big number of wine drinkers in the U.S. This may be attributed to the arrival of key companies from various areas, which has increased the overall revenue share and supported market growth over the forecast period.
|Market size value in 2021
|USD 241.5 million
|Market size value in 2030
|USD 725.48 million
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Canned Wine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Canned Wine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Canned Wine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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