Canned Cocktails Market
Canned Cocktails Market By Primary Ingredient (Malt-based, Spirit-based, Wine-based), By Additive Ingredient (Alcoholic, Non-alcoholic, Fruits, Caffeine), By Can Size, By Alcoholic Content, By Distribution Channel, By Region - Global Market Forecast 2020-2030
Canned Cocktails Market Insights
The canned cocktails market is will have a valuation of over US$ 25 billion in 2020, and is foreseen to expand at a CAGR of over 20% during the forecast period of 2020-2030. Economic shutdowns have led to supply shortages of canned cocktails as the COVID-19 pandemic is negatively affecting most industries, from wholesale distributers to retail stores, and the manufacturing industry.
In the past decade, in excess of hundred organizations over seven locales have presented their line of canned cocktails. These are pioneers such as Diageo PLC, Anhauser-Bosch InBev, Duvel Moortgat USA Ltd., and others. Furthermore, industry players are concentrating on maintaining strong relationships with sellers and providers to guarantee continuous access to items that their clients depend upon. Such factors will go on to aid the expansion of the global canned cocktails market size over the coming years.
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Canned Cocktails Market Trends
The canned cocktails market primarily depends on factors such as availability of raw materials, and low alcohol content that facilitates the easy availability of the product. The company Modelo has come up with a unique way of holding beverage cans by introducing interlocking cans that have threads at both ends.
Introduction of threaded cans has the potential to replace beverage carrier rings made from plastic. This will not only be safe for the environment but will also save the additional packaging cost required to hold these cans together. These cans have an internal threading at the bottom and an external threading at the top (on the lid).
Canned Cocktails Market Insights by Primary Ingredient
Canned cocktails with primary ingredients other than spirits, wine, and malts are likely to experience high growth in the future, owing to increasing demand for regional alcoholic beverages. Soul-based canned mixed drinks are much sought-after, and this trend will keep throughout the forecast time frame.
Canned cocktails with wine-based primary ingredients have less share in the canned cocktails market, but will exhibit an attractive business division for the usage of canned mixed beverages all through the forecast time span.
Canned cocktails with malt-based primary ingredients are also likely to experience significant growth during the forecast period, as a result of increasing inclination of consumers towards the consumption of beers and malts.
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Regional Outlook of Canned Cocktails Market
In 2020, Europe will account for a canned cocktails market share of over 40% in the the global market. The canned cocktails market in South Asia and Oceania will encounter high development in the future, due to increasing interest for mixed refreshments in the regions.
The Middle East and Africa represents the lowest share in the global canned cocktails market. The canned cocktails market in Europe holds a significant share and will keep up its commanding situation all through the forecast period. Latin America will encounter huge development during the forecast period, due to rising consumption of canned cocktails in the region.
Canned Cocktails Market Manufacturer Insights: Moderately Consolidated Market Structure with New Product Launches
The global canned cocktails market is consolidated in nature, wherein, tier-1 players contribute more than 30% of the overall market revenue. Organizations are vigorously investing in manufacturing better-tasting canned cocktails. In July 2019, Rogue Spirits propelled its scope of canned cocktails with 100% natural ingredients such as cucumber, limes, and cranberries in its canned mixed drinks.
Organizations have created items with various base materials and added. For example, ASDA created an energy organic martini in June 2019 - 'Throw' by Boulevard. Hochstadter made its canned cocktails smaller by around 100 ml/3.38 fl. oz. so that stacking becomes easy and total alcohol consumption in a single serving is limited. Big Hammer introduced thinner cans so that its canned cocktails fit better in the hands of female consumers, which is its target customers.
COVID-19 Impact on Canned Cocktails Market
The effect of COVID-19 will have momentary implications on the canned cocktails market. The drink business is observing an exceptionally declined utilization and disturbed supply chains. Numerous new product launches have been postponed or completely dropped by organizations because of the COVID-19 pandemic. Farming produce, which is one of the key crude materials utilized for manufacturing items such as malt and beer, has been heavily affected because of the pandemic.
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The Analyst’s Viewpoint
“Asia Pacific and European markets has been largely affected due to COVID-19 pandemic. The Chinese government had closed all hotels, restaurants, and eateries, which resulted in declining demand for beverages, especially canned beverages. Numerous organizations are encountering delays in raw material supply from China because of sluggish industrial activities in the country.”
Global Canned Cocktails Market: Scope of the Report
A recent global canned cocktails market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities, and threats to the expansion of the global canned cocktails market. A detailed segmental analysis, based on primary ingredient, additive ingredient, can size, alcoholic content, distribution channel, and region has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution, and market value analysis provides an in-depth perspective about the future scope of the global canned cocktails market. In addition, a separate section on the market structure has also been provided. The section provides a detailed analysis of key market players and their strategies for expansion in the canned cocktails market.
Canned Cocktails Market: Segmentation
FactMR’s study has done the segmentation of the canned cocktails market on the basis of the primary ingredient, additive ingredient, can size, alcoholic content, distribution channel, and region.
- Less than 250 ml
- 250 - 350 ml
- More than 350 ml
- Less than 5%
- More than 8%
- Liquor Stores
- Retail Stores
- Online Channels
- North America
- Latin America
- East Asia
- South Asia
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