Canned beverages or canned drinks are processed beverages packed into airtight containers known as cans. Canned beverages are becoming more accessible to the customers as more and more retailers are increasing the product range placed on their shelves. Such beverages are witnessing a surging demand among the millennials as cans are bold, offer vibrant 360 degree designs that appeal millennials, and ensure product quality & taste. According to The Aluminium Association, more than 500 craft beer brewers offer more than 1,700 different beers packed in aluminium cans. Moreover, after successful launch of canned energy drink Red Bull in 1997, the global canned beverages market has been witnessing the entry of several new players from energy drinks market. Thus, the global canned beverages market is a flourishing market with intense competition among the key players.
Based on type, the global canned beverages market overview has been segmented into alcoholic beverages, and non-alcoholic beverages. The non-alcoholic beverages segment is further bifurcated into carbonated soft drinks, fruit & vegetable juices, and others. The alcoholic segment is anticipated to account for the highest revenue share in the global canned beverages market due to the high global consumption of alcoholic drinks. Canned wine is witnessing a rise in its consumption volume, especially in the Western European countries, and is thus catalyzing the segment growth. However, the non-alcoholic segment is projected to grow with the fastest growth rate due to the surging preference of consumers towards non-alcoholic beverages such as fruit juices, carbonated soft drinks, ready-to-drink tea, and others.
By distribution channel, the global canned beverages market has been segmented into store based and non-store based. The store based segment has further been segregated into hypermarkets & supermarkets, convenience stores, and others. The store based segment is projected to dominate the global canned beverages market due to the increasing shelf space of healthy and ready-to-drink beverages in supermarkets & hypermarkets and convenience stores. However, the non-store based segment is expected to grow with the fastest CAGR during the forecast period owing to the increasing adoption of e-commerce platforms by the food & beverage manufacturers and suppliers.
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The global canned beverages market has been segmented by region, into North America, Europe, Asia-Pacific, and Rest of the World.
North America is projected to gain dominance in the global canned beverages market as it harbors several small-, medium-, and large-sized market players. In addition, the rising environmental concerns in the region is propelling consumers to opt for canned beverages as they are recyclable. Thus, canned beverages are witnessing a promising growth in the regional market.
Asia-Pacific canned beverages market is projected to be the grow with the fastest growth rate during the forecast period due to the changing lifestyle of people, surging demand for ready-to-drink beverages, and increasing focus of market players in Asia-Pacific.