Market Research Report
Global Canned Wine Market - 2020-2027
|Global Canned Wine Market - 2020-2027|
Published: April 1, 2021
Content info: 180 Pages
Delivery time: 2 business days
Wine is an alcoholic drink naturally made from fermented grape juice. The yeast consumes the sugar in the grapes and changes it into ethanol, carbon dioxide, and heat. Thus, different varieties of grapes and rinsing of yeasts produce different styles of wine. These variations result from the complex interactions between the biochemical developments of the grape and the responses involved in fermentation. Although, the canned wine is a wine packaged in a can.
The global canned wine market size was worth US$ XX billion in 2019 and further predicted to reach US$ XX billion by 2027, at a CAGR of XX% during the forecast period (2020-2027).
The rising demand for portable and less friable wine containers than glass for increased convenience is a key factor fueling the market growth. Moreover, increasing participation in outdoor recreational activities, such as camping, trawling, and mountain climbing, is propelling the demand for the product.
Increasing Canned Wine Demand across the globe
Considering the current market, consumers are accepting options for drinking, which is expected to promote the scope of canned wine during the forecast period. Moreover, the increasing preference for canned wine owing to ease in handling and carrying containers than glass due to growing demand for containers is boosting the growth. Futhermore 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.
However, these metal cans are less expensive as compared to glass bottles, more environment friendly, and havig high reutilizing or recycling rates than glass. And thus the interest for outdoor recreational activities, such as camping, hiking, fishing, and other activities is propelling the demand for canned wines.
Rapid growth in alcohol products consumption
According to the canned wine segment, college going students and working-class people are shifting their preference for Alcoholic Beverage Consumption (ABV) from high alcohol by volumes, such as whiskey and rum, vodka, to o low ABV drinks such as wine. Futhermore, increasing spending among millennials and Gen Xers on canned wines in U.S., U.K., Germany, Japan, and Australia has fueled the canned wine market growth over the forecast period. Moreover, the canned wines are considered a good substitute to those heavy wine bottles, which require other things as well. As these include bottle opener and glasses. However, the canned wines can easily be carried anywhere, from beaches to night camping, and are durable, easily consumable, and provide the same visual and satisfaction as bottled wines.
COVID-19 Impact Analysis
COVID-19 pandemic affected the global economy in many terms, such as directly affecting production and demand, supply chain disruption, and financial impact. COVID-19 has directly impacted the manufacturers' supply chain across the globe and shut down the production facilities to minimize the risk of spread of of virus. Also, the lockdown policies have strengthened the demand for alcohol & tobacco products under wine shops across the globe. Therefore, the manufacturers are started investing to increase the production capabilities to meet the surging demand. However, all these factors are anticipated to affect the industries in a negative manner and thus act as restraining factor for the growth of organic wine market.
Despite the pandemic, there is growth in the overall alcohol beverages, which is expected to drive the canned wine's market size in the global market during the forecast period.
Based on the product, the canned wine market has been classified into sparkling, fortified and others.
The most prominent sparkling wines are Rose and Prosecco.
Sparkling wine was difficult to manage. As no one else had developed it, it took two years to perfect the science of preparing wine for the can, due to which there is no oxygen exchange. A consumer needs to be thoughtful about what varieties you select and how the wine is treated before canning. It has shown steady growth, both in the short- and long-term, pertaining to sales volume as well as per-capita consumption. Moreover, new 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 during the forecast period. The sparkling wine for which it acquired time to control every aspect of the process is fulfilling and shows our commitment to doing things right.
Based on the distribution channel, the canned wine market has been classified into on-trade, off-trade, and online retail.
Off-trade acquired the largest share in the canned wine market
In 2019, off-trade distribution through bar shops, wine shops, and wholesalers emerged the largest sales network. The shifting consumer preference for convenient chilling of drink during their off-trade 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.
Based on geography, the study analyzes the canned wine market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America market to rise at the fastest CAGE by 2026
North America leads the largest regional market for canned wines with the major share across the globe. It is due to increasing number of households participating in camping as an outdoor recreational activity. And owing to growing consumption of canned wines among the low-class workers and college-going students further enhances its market position in the global canned wine market in the coming years. And according to the statistics provided by the North American Camping Report, the number of camping households in U.S. increased from 2017 to 2018. Moreover, major players in the market are launching new products in order to increase the hard drink leisure industry in the region, which is further expected to increase canned wine consumption in the domestic region during the forecast period.
However, the market is slightly fragmented owing to the presence of a number of domestic as well as international players across the globe. Moreover, major players are adopting various market strategies in order to capture greater market share.
The canned wine market is highly competitive, owing to the presence of big alcohol brands. The key canned wine players which are contributing to the growth of the global market include E & J Gallo Winery, Union Wine Company, Integrated Beverage Group LLC, SANS WINE CO, Sula Vineyards Pvt. Ltd., Accolade Wines, Amvyx SA, Treasury Wine Estates , Wine Group, Constellation Brands, Penaflor S.A., Pernod Ricard, Pernod Ricard, Gruppo Campari, and The Family Coppola. The major players are adopting new product launch and expansion strategies for global growth in the canned wine market. These companies have a major share in the canned wine market, owing to their wide range of prices for wines.
The Wine Group
Overview: The Wine Group is engaged in the production and distribution of baking, nutrition and health, flavors, and fermentation products. The product line is largely inexpensive, making them available to a wide audience. The company also offers specialized, sweet concord grape and blackberry Mogen David kosher wines. The wine group markets products of brands including Talus, Vendange, Farallon, Nathanson Creek, Heritage, and La Terre. It has operations in Africa, Asia Pacific, Central and Eastern Europe, Latin America, Middle East, North America, and Western Europe. The wine group is headquartered in California and New York.
Product Portfolio: The Company's portfolio comprises, sweet Concord grape & blackberry Mogen David kosher wines and other services.
The global canned wine market report would provide access to an approx. 60 market data table, 47 figures and 240 pages.
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