The global Canned Wines market size is expected to be worth around US$ 671.0 Mn by 2030, according to a new report by Vision Research Reports.
The global Canned Wines market size was valued at US$ 311.4 Mn in 2020 and is anticipated to grow at a CAGR of 23.2% during forecast period 2021 to 2030.
Get Sample Copy of This Report (Including TOC, List of Tables & Figures, and Chart)@ https://www.visionresearchreports.com/report/sample/38371
Growth Factors
Shifting consumer preference for convenient, portable, and single-serve wine products is expected to be a key factor contributing to the growth of the market. An increasing number of college students and working individuals have been shifting their preference for alcoholic beverages from high alcohol by volume (ABV) dark spirits, such as whiskey and rum, to low ABV drinks like wine and vermouth.
Increasing spending by millennials and Gen Xers on canned wines in the U.S., the U.K., Germany, Japan, and Australia over the past few years has also fueled the market growth. Canned beverages are highly convenient due to the compact size of cans. Moreover, there has been a growing demand for portable and less fragile wine containers than glass. These factors are projected to support the market growth.
Growing consumer inclination toward ready-to-eat and ready-to-drink products, owing to their busy lifestyles and hectic work schedules, is driving the product demand. The COVID-19 pandemic has had a positive impact on the regional markets ious traction during the lockdown period.
Report Highlights
The sparkling product segment accounted for the largest revenue share of more than 76% in 2020 and is expected to maintain dominance over the forecast period. Key players are launching new products in this segment for customer retention as well as to attract new customers.
For instance, in February 2020, Sula Vineyards, India’s renowned wine brand, announced the launch of its first-ever canned wine under the brand name ‘Dia Sparkler’. The fortified product segment is projected to register the fastest CAGR during the forecast period. Customers are welcoming the new variants of fortified wines with various hard spirits as they get both the taste and flavor of the wine as well as spirit in one product.
The supermarket & hypermarket distribution channel segment accounted for the largest revenue share of more than 74% in 2020. With the increasing number of supermarkets and hypermarkets across the globe, major product manufacturers are making their products available through offline sales channels. Key supermarket chains are opening up new stores across various regions to increase customer penetration. For instance, in January 2020, SPAR announced that their partnered companies are establishing new stores across Spain to cater to the rising consumer demand.
North America made the largest contribution in the global market by accounting for a revenue share of over 63% in 2020. The region will expand further at a steady CAGR retaining the leading position throughout the forecast period due to high product demand. Most consumers are increasingly adopting canned wines due to easy portability and convenience during travel and outings. Moreover, aluminum cans offer several other advantages over glass bottles and other packaging materials.
| Report Coverage | Details |
| Market Size | US$ 671.0 Mn by 2030 |
| Growth Rate | CAGR of 23.2% From 2021 to 2030 |
| Base Year | 2020 |
| Forecast Year | 2021 to 2030 |
| Segments Covered | Product, Distribution channel, Region |
| Companies Mentioned | E & J Gallo Winery, Union Wine Company, Integrated Beverage Group LLC, Sans Wine Co., Sula Vineyards Pvt. Ltd., The Family Coppola, The Canned Wine Company |
Key Players
Market Segmentation
Buy This Premium Research Report, click here@ https://www.visionresearchreports.com/report/cart/38371 or call: +1 9197 992 333
Vision Research Report, Recently Announced New Report on "Smart Lock market - Global Industry Analysis,…
Vision Research Report, Recently Announced New Report on "2D barcode reader market - Global Industry…
Vision Research Report, Recently Announced New Report on "commercial refrigeration equipment market - Global Industry…
Vision Research Report, Recently Announced New Report on "Restaurant Point-of-Sale Terminal market - Global Industry…
Vision Research Report, Recently Announced New Report on "vacuum cleaner market- Global Industry Analysis, Market…
Vision Research Report, Recently Announced New Report on "household refrigerators and freezers market - Global…