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Report Overview: Canned Wines MarketThe global canned wines market size was valued at USD 69.2 million in 2020 and is expected to witness significant growth in the years to come. Increasing consumer preference for more convenient ways of having wine during their outdoor parties, house parties, camping, and other social gathering is a key factor fueling market growth. Moreover, consumers have been accepting convenient options for drinking, which is expected to promote the scope of canned wine over the next few years. Increasing preference for portable and less fragile wine containers than glass due to growing demand for convenience is boosting the market growth. Canned wine is gaining popularity among consumers across the globe owing to its portability as well as convenience to keep it cold in beaches, during overnight camping trips, and other outdoor recreational activities. Moreover, these metal cans are less expensive as compared to glass bottles, more environment friendly, and have considerably higher recycling rate than glass. Over the past few years, enthusiasm for outdoor recreational activities, such as overnight camping, RV camping, fishing, hiking, and other outdoor activities, is propelling the demand for canned wines. According to the 2019 Outdoor Participation Report by the Outdoor Industry Association, published in 2020, an estimated 151.8 million people in the U.S. participated in at least one outdoor activity in 2018. The participation of the country has increased by 5.7 million participants from 2017 to 2018. College students and working-class people are shifting their preference for alcoholic beverage consumption from high Alcohol by volumes (ABV) dark spirits, such as whiskey and rum, to low ABV drinks, including wine and vermouth. Over the past few years, increasing spending among millennials and Gen Xers on canned wines in U.S., U.K., Germany, Japan, and Australia has fueled the canned wines market growth over the forecast period 2021-2027.
Product Insights: Canned Wines MarketSparkling canned wine held the largest share of more than 60.0% in 2019. This segment consists of various sub-variants, including demi-sec, extra dry, brut, and extra brut. Moreover, young people and adults are finding this canned drink one of the best alternatives to the hard drinks during their short trip and outdoor camping due to its sweet taste and low alcohol content. These consumer trends are opening a new avenue for these canned drinks over the forecast period. Fortified canned wine is expected to exhibit the fastest CAGR of 09.6% from 2021 to 2027. This growth is attributed to increasing demand for fortified wines, especially vermouth, majorly in North America and Europe owing to their low sugar and ABV concentration. Major players in the industry are offering new products in order to attract young generation and working-class population. Moreover, canned wines are gaining popularity in house parties, beach parties, concerts, family and friends get together, and casual dining.
Distribution Channel Insights: Canned Wines MarketOff-trade distribution through bar shops, wine shops, and wholesalers emerged as the largest sales channel with a share of more than 40.0% in 2019. Shifting consumer preference for convenient chilling of drink during their off-track camping is driving them to buy canned wine through these sales channels and enjoy their outdoor camping and parties. This segment is anticipated to witness substantial growth in developing nations on account of growing buying power of the consumers. In addition, rising penetration among the large customer groups in countries, such as China, India, Brazil, Thailand, and Mexico, along with growing preference for wine during parties and in casual dining, is expected to fuel the sale of canned drinks through this channel over the next few years. The online retail distribution channel is anticipated to exhibit the fastest CAGR of 09.6% from 2021 to 2027. Increasing participation of millennials, the young generation, and the working-class population in the online shopping of food and beverages is increasing the sales of canned wine through this distribution channel. According to the statistics published by the Business Insider, an American financial and business news website, in March 2019, the online sales of wine, beer, and liquor witnessed significant growth in 2017, wherein wine accounted for around 65% of the overall online alcohol sales in the U.S. These consumer trends are anticipated to drive the sale of these canned drinks through this channel over the forecast period.
Regional Insights: Canned Wines MarketNorth America emerged as the largest regional market with a share of more than 35.0% in 2019 owing to substantial consumption of canned wines across the region. Camping is one of the most performed outdoor recreational activities in the U.S. According to the 2019 North American Camping Report, 77.5 million households camped in the U.S. in 2017 and the number was increased to 78.8 million in 2018. Increasing number of camping households are expected to open new avenues for the market over the forecast period. Asia Pacific is anticipated to expand at the fastest CAGR of 09.8% from 2020 to 2027 owing to increasing popularity of canned wine in parties and casual dining. Moreover, major wine companies are launching new products in the region. For instance, in February 2020, Sula Vineyards, an Indian company that holds more than 60.0% share in the Indian wine market, launched a new product under the brand name ˜Dia Red Wine Sparkler. These product launches are anticipated to boost the demand for canned wines in the region over forecast period.
Canned Wines Market Share Insights: Canned Wines MarketThe market is in the growth stage, which is attracting the millennials and young generation as canned wine is convenient during traveling and recreational activities, especially outdoor camping. It is also easy to keep these metal cans cold without any breakage during traveling. Advantages of these canned drinks are offering new opportunities for the market. Moreover, recent outbreak of Coronavirus (COVID 19) pandemic is expected to affect the demand and supply of canned wines. Major manufacturers are adopting various market strategies, including new product launch, merger & acquisition, and expansion of distribution channels, to capture the maximum market share and expand their customer base across the globe. For instance, in March 2020, Integrated Beverage Group (IBG) announced the acquisition of Ransom Wine Co. & Distillery. These industry trends are anticipated to fuel market growth over the forecast period. This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global canned wines market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2016 - 2027)
Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
- Online Retail
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum) 1.3.2. IFF Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market | read more...