The global canned cocktails market size was valued at USD 17.74 Billion in 2022 and is expected to surpass USD 29.97 Billion by 2031, expanding at a CAGR of 6% during the forecast period, 2023–2031. Canned cocktails refer to a range of ready-to-drink cocktails that are mostly available in packed cans. A cocktail is a type of alcohol-based drink that is widely served by mixing several beverage items such as gin, brandy, vodka, whiskey, tequila, or rum.
Some common types of canned cocktails are available as alcoholic drinks mixed with fruit crush, creams honey, milk, sugar, and others to make them more flavorful and tastier. Canned cocktails have a wide range of choices based on these compositions including alcoholic content, primary ingredients, and the fruits that are added to these beverages to make them more flavorful.
Canned Cocktails Market Trends, Drivers, Restraints, and Opportunities
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Increasing demand for flavored and tasteful drinks and the changing lifestyle of consumers are primary drivers of the market.
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Development of premium packages and attractive cans for cocktails as well as growth of the at-home cocktail culture have significantly propelled the market growth.
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Presence of a low alcohol content in canned cocktails and flavorful ingredients such as passionfruit, cranberry, and others have pushed to accelerate the market expansion.
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COVID-19 pandemic has negatively impacted this market as it resulted in untimely and irregular functioning of supply chain of the food & beverages sector. This acts as a key restraint of the market expansion.
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Availability of organic, gluten-free, and eco-friendly canned cocktails are projected to surge the market demand in the coming years.
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Increasing urbanization and rising standard of living among a large number of the consumers lead to increase the demand for canned cocktails and ready-to-drink cocktails. These are major factors offering lucrative opportunities for market growth.
Scope of Canned Cocktails Market Report
The report on the global canned cocktails market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Canned Cocktails Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016 & 2021
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Forecast Period
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2023–2031
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Segmentation
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Primary Ingredients (Spirit-based, Malt-based, Wine-based, and Others), Additive Ingredients (Alcoholic, Non-alcoholic, Caffeine, Fruits, and Others), Can Sizes (Less Than 250 ML, 250-350 ML, and More Than 350 ML), Alcoholic Contents (Less Than 5%, 5-8%, and More Than 8%), Distribution Channels (Hypermarkets, Liquor Stores, Retail Stores, Online Channels, and Others)
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Regional Scope
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Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
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Report Coverage
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Market Scope, Analysis, Share, Competitive Analysis, Growth Facts, Restraints, Opportunities, and Revenue Forecast
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Key Players covered in the Report
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Diageo Plc.; Pernod Ricard; AG Barr; Boston Beers Company; and Brown Forman
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Canned Cocktails Market Segment Insights
Based on primary ingredients, the canned cocktails market is segmented into spirit-based, malt-based, wine-based, and others. The spirit-based segment is projected to grow at a robust CAGR during the forecast period owing to increasing demand of spirit-based cocktails. These beverage items normally contain approximately 5% alcohol and a variety of flavors are added to adhere to the requirements of different consumers’ taste preference.
Additionally, the inclination of consumers towards make at home and organic cocktails is projected to propel the segment growth in the coming years. Increasing consumption of beers and malts as well as the integration of alcoholic beverages with flavorful ingredients is expected to accelerate the segment expansion during the forecast period.
On the basis of additive ingredients, the market is classified as alcoholic, non-alcoholic, caffeine, fruits, and others. The alcoholic segment is projected to grow at a robust rate during the forecast period owing to increasing demand for innovative alcoholic beverages.
The rapid growth of the food & beverage industry has also propelled the growth of this segment. Increasing urbanization and standard of living of consumers are some key factors that lead to rising organization of parties and social gatherings. These opportunities allow to increase the demand for regular alcohol-based beverage.
Based on can sizes, the canned cocktails market is categorized as less than 250 ml, 250-350 ml, and more than 350 ml. The 250-350 ml segment is expected to expand at a significant CAGR during the forecast period owing to the increasing preference of the mid-size cans for canned cocktails.
The mid-size canned cocktails, which are range of 250-350 ml, are easier to carry as compared to the more than 350 ml can sizes. Increasing production of the mid-size cans to fit consumer requirements has resulted in the growth of the segment. Development of interlocking cans that have threads at both ends to hold the beverage effectively has also increased the demand for canned cocktails.
On the basis of alcoholic contents, the market is divided into less than 5%, 5-8%, and more than 8%. The less than 5% segment is projected to gain its growth momentum at a significant rate owing to increasing health concerns among the consumers, who preferred less alcohol consumption. Those canned cocktails containing alcohol lesser than 5% normally have more flavors and tastes.
The rise in fruity cocktails and the addition of exotic fruits in cocktails such as raspberries, passionfruit, and others have accelerated the growth of the segment. The rise in awareness about the harmful effects of alcohol has prevented the growth of the more than 8% segment.
On the basis of distribution channels, the canned cocktails market is segmented into hypermarkets, liquor stores, retail stores, online channels, and others. The liquor store segment is projected to expand at a robust rate during the forecast period due to the presence of strong distribution channel of this segment.
Liquor stores specialize in alcoholic beverages items and a variety of products are available in the stores, which can be easily accessible by consumers. The restaurants and bars that serve cocktails normally establish contact with liquor stores to supply canned cocktails in bulk with availability of discount offers.
In terms of regions, the canned cocktails market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market in the coming years as the region is one of the major producers of cocktails beverage items. Moreover, the presence of key global players especially in the US presents a key factor for the regional market growth.
In terms of consumption of cocktails, North America is followed by Europe where the demands for such products are growing rapidly due to the increasing expansion of the food and fine dining industry. The growth of the Europe market is largely attributed to growing popular of cocktails consumption cultures prevailed in the UK, Germany, and the Netherlands.
Segments
Primary Ingredients
- Spirit-based
- Malt-based
- Wine-based
- Others
Additive Ingredients
- Alcoholic
- Non-alcoholic
- Caffeine
- Fruits
- Others
Can Sizes
- Less Than 250 ML
- 250-350 ML
- More Than 350 ML
Alcoholic Contents
- Less Than 5%
- 5-8%
- More Than 8%
Distribution Channels
- Hypermarkets
- Liquor Stores
- Retail Stores
- Online Channels
- Others
Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
Key Players
Competitive Landscape
Key players in the global canned cocktails market are Diageo Plc.; Pernod Ricard; AG Barr; Boston Beers Company; and Brown Forman. These players are widely engaged in various business development strategies including mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence and expand their consumer base globally.
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