North America Canned Alcoholic Beverages Market

The North America Canned Alcoholic Beverages Market is valued at USD 38682.2 Million in 2023 and is projected to reach a value of USD 78296.9 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 10.6% between 2024 and 2030.

Key Highlights of North America Canned Alcoholic Beverages Market

• In 2023, the Beer North America Canned Alcoholic Beverages segment dominated the market with around 59.2% share.
• The Liquor Store segment significantly contributed to the market’s expansion, constituting over 55.4% of the overall revenue share in 2023.
• The Low (ABV less than 5%) segment significantly contributed to the market’s expansion, constituting over 63.6% of the overall revenue share in 2023.
• The companies in the market are working to innovate products with more efficiency, low-cost, and easily adaptable which are further estimated to enhance the growth of the market.

U.S. North America Canned Alcoholic Beverages Market Overview

In the United States, canned alcoholic beverages are widely consumed, catering to various consumers and occasions. These beverages, which include beer, wine, cocktails, and hard seltzers, are ingrained in numerous aspects of American culture, reflecting shifting consumer preferences and lifestyle trends. The American culture places a premium on convenience and punctuality. Offering ready-to-drink options for on-the-go lifestyles, alcoholic beverages in cans align flawlessly with this culture. Outdoor activities such as picnics, barbecues, camping, seaside trips, and social events such as concerts and sporting events frequently feature canned alcoholic beverages. Numerous outdoor festivals, music events, and sports gatherings are held in the United States, generating opportunities to consume canned alcoholic beverages in social and celebratory settings. Some regions have modified their regulations to facilitate the production, distribution, and sale of canned alcoholic beverages, which has contributed to the expansion of the market. The proliferation of e-commerce platforms has enabled consumers to explore, purchase, and discover new canned alcoholic beverage options conveniently.

Product Overview

In 2023, the Beer dominated the market with a 59.2% share and a market CAGR of 8.8% in the forecast period. The Product segment is separated into Wine, RTD Cocktails, Hard Seltzers, and Beer. Beer in cans offers convenience, portability, and a variety of options, catering to the preferences of diverse consumers. Cans are lightweight and readily transportable, making them ideal for outdoor events, parties, picnics, and other social gatherings where glass bottles would not be practical. Aluminum cans are recyclable, and many beer brands prioritize sustainable packaging, which appeals to environmentally conscientious consumers. Younger consumers, particularly millennials and Generation Z, are interested in distinctive experiences and are willing to try new and diverse canned beer options. Using e-commerce platforms for direct-to-consumer sales, canned beer brands can expand their reach and engage with consumers on a more personalized level. Beer is a major force in the North American Canned Alcoholic Beverage Market, fueled by convenience, sustainability, variety, and the rising popularity of craft and distinct beer offerings. As the beer market evolves, the can contributes to its accessibility, popularity, and market expansion.

Distribution Channel Overview

In 2023, the Liquor Store dominated the market with a 55.4% share and a market CAGR of 10.8% in the forecast period. The Distribution Channel segment is separated into On-trade, Liquor Store, Online, and Other Channel. Liquor stores are retail establishments selling alcoholic beverages, such as spirits, wines, ales, and now canned alcoholic beverages. These stores are committed to providing consumers with

diverse options and brands, making them a crucial distribution channel for canned alcoholic beverages in the North American market. Consumers can easily purchase their preferred canned alcoholic beverages without visiting multiple locations because liquor stores are strategically located and easily accessible. Liquor stores may collaborate with brands or host events featuring canned intoxicating beverages, generating additional marketing opportunities. Liquor stores place a premium on customer service, ensuring a pleasant purchasing experience and assisting customers in locating their desired canned alcoholic beverages. Liquor stores play a significant role in the North American Canned Alcoholic Beverage Market by providing consumers with a vast selection of canned alcoholic beverages. and an environment conducive to exploration, education, and convenience. Their adaptability to consumer preferences and market trends contributes to the market expansion and acceptance of canned alcoholic beverages.

Alcoholic Content Overview

In 2023, the Low (ABV less than 5%) dominated the market with a 63.6% share and a market CAGR of 10.8% in the forecast period. The Alcoholic content segment is separated into Low (ABV Less than 5%) and High (ABV Greater than 5%). Rising consumer health and wellness awareness has resulted in a preference for alcoholic beverages with lower alcohol content. Low alcohol-by-volume options pander to individuals seeking moderation and responsibility. Younger consumers like millennials and Generation Z favor beverages that complement their active and balanced lifestyles. Low-ABV canned alcoholic beverages are versatile for various events, from casual gatherings to outdoor activities, without the negative effects of alcoholic beverages with higher alcohol content. Low-ABV beverages are frequently session-able, allowing consumers to consume them over an extended period without becoming excessively intoxicated. The emergence and growth of the low ABV segment in the North American Canned Alcoholic Beverage Market are driven by shifting consumer preferences, health consciousness, and the desire for enjoyable beverages with moderate alcohol content. This segment contributes to the market's diversification and adaptability in response to shifting consumer preferences.

Key Trends

• The can format is ideal for outdoor activities and social gatherings, where consumers can enjoy beer without requiring glassware or intricate preparation.
• Liquor stores offer a vast selection of canned alcoholic beverages, including beer, wine, cocktails, and more, to accommodate the preferences of various customers. Their widespread presence and ability to stock various brands and flavors contribute to their market significance, making them a significant channel for the distribution of canned alcoholic beverages.
• In the North American Canned Alcoholic Beverage Market are driven by shifting consumer preferences, health consciousness, and the desire for enjoyable beverages with moderate alcohol content.

Premium Insights

The enhanced rules and regulations by government for alcoholic beverages across the globe are favorable for global market growth. The political and government stability across major developed and developing nations is also estimated to enhance the market demand in the years to come. The economic factors are related to the overall economic situation in the market. The steady growth in the demand of alcoholic beverages industry and increased investments by major companies for the adoption of advanced technologies are presumed to be favorable for market growth. For Instance, the fastest segment of the North American market for tinned alcoholic beverages is currently "Hard Seltzers." The explosive growth of hard seltzers can be attributed to their low-calorie, low-sugar, and refreshing flavor profiles, which appeal to health conscious and youthful consumers. This market segment has experienced significant innovation from numerous brands, resulting in a wide variety of options and a substantial market share.

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Market Dynamics

Increased convenience

The market for canned alcoholic beverages in North America has been experiencing significant development, primarily driven by convenience and changing lifestyle trends. As consumers seek more convenient and transportable options for imbibing alcoholic beverages, canned options have become increasingly popular. This trend is reshaping how people consume alcoholic beverages and is fuelled by various factors that contribute to the expansion of the market. Traditional bottles or glass containers cannot match the convenience of canned alcoholic beverages. They are portable, lightweight, and require no additional apparatus for consumption, making them ideal for outdoor gatherings, picnics, and festivals. The modern lifestyle frequently requires beverages that can be consumed on the go. Alcoholic beverages can accommodate individuals who want to unwind or socialize without being confined to a stationary location, which is consistent with the fast-paced nature of modern society. In addition to tinned cocktails, wines, craft beers, and hard seltzers, the market for canned alcoholic beverages has witnessed a surge in innovation. With a growing number of millennials and Generation Z consumers prioritizing experiences, experimentation, and convenience, the market has benefited from shifting demographics. This demographic shift has increased the demand for unique and convenient alcoholic beverage options. In some regions, regulatory changes have facilitated the production and distribution of canned alcoholic beverages, making it simpler for manufacturers to enter the market and offer various products.

Health and wellness consciousness

The North America Canned Alcoholic Beverages is experiencing robust development due to a significant shift in consumer preferences driven by health and wellness awareness. Several factors contribute to the growth of this market segment, which is consistent with the increasing emphasis on health and wellness. The caloric content of many canned alcoholic beverages, such as hard seltzers and light ales, is lower than that of traditional alcoholic beverages. Typically, canned alcoholic beverages contain less sugar and carbohydrates, making them more appealing to consumers monitoring their sugar intake or adhering to low-carb diets. Alcoholic canned beverages, particularly those made from gluten-free grains or alternative bases such as fruit, cater to individuals with gluten sensitivity or other allergen sensitivities, thereby expanding the market. A heightened awareness of the potential health consequences of excessive alcohol consumption has prompted consumers to seek alternatives that align with their health objectives. Frequently, manufacturers provide clear labeling and nutritional information to assist consumers in making informed decisions. Canned alcoholic beverages frequently bridge the divide between traditional alcoholic drinks and non-alcoholic beverages, such as sparkling water or fruit juices, appealing to health-conscious consumers who wish to explore alcoholic options. Demand for moderation and functional benefits, has resulted in the market's expansion as it accommodates the changing preferences of health-conscious individuals.

Competitive Landscape

The North America Canned Alcoholic Beverages market is a competitive and fragmented market due to the high presence of players in the market. Only a few companies account for a major market share, and hence, the degree of competition among the suppliers is high as the players in the market are active at regional, and country level. The Major Players are Bacardi Limited, Brown-Forman Corporation, Union Wine Company, E. & J. Gallo Winery, Kona Brewing Company, Barefoot Cellars, Constellation Brands, Epic Western Cocktail Co, Denizens Brewing Co, Odell Brewing Company.

Also available Global Canned Alcoholic Beverages Market Research Full Study Report:

https://www.vantagemarketresearch.com/industry-report/canned-alcoholic-beverages-market-2207

Recent Developments

• In July 2023, In collaboration with the National Park Foundation, they are celebrating summer with three cocktails you can mix with our limited-edition Underwood national park cans.
• In March 2023, Leading beverage alcoholic company Constellation Brands, Inc. announced that it has partnered with contemporary media company Tastemade in a multi-year, multi-million dollar deal to establish a first-of-its-kind content studio that will produce and distribute social and streaming content to increase consumer engagement for Constellation Brands Wine & Spirits globally.

The North America Canned Alcoholic Beverages market can be categorized as Product, Distribution Channel, and Alcoholic content.