According to the business intelligence report titled ‘Global Canned Alcoholic Beverages Market Size study, by Product (Wine, RTD Cocktails and Hard Seltzers), by Distribution Channel (On-Trade, Liquor Stores, Online and Others), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global canned alcoholic beverages market was assessed at USD 4.9 billion in 2020 and is anticipated to be worth USD 11.74 billion by 2027, expanding at 13.30% CAGR between 2021-2027.
 

Increasing consumption of canned drinks among the youth coupled with surging demand for ready-to-eat food & beverages are the key factors driving global canned alcoholic beverages market expansion. Rising popularity of canned beverages owing to their portability, travel-friendly nature, and convenience will aid revenue inflow as well.
 

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Launch of new products and rising inclination towards using natural ingredients & eco friendly packaging will facilitate industry growth as well. In June 2021 for instance, Bacardi Limited launched three new flavors of its ready-to-drink cocktails. Meanwhile in July 2020, Diageo plc unveiled 100% plastic free paper based spirit bottles that are made from sustainably sourced wood.
 

On the other hand, health risks associated with excessive consumption of alcoholic beverages will act as a challenge for businesses operating in this domain.
 

Based on product gamut, global canned alcoholic beverages market is split into RTD cocktails, wine, and hard seltzers. As per distribution channel, the business sphere is bifurcated into liquor stores, on-trade, online, and others.
 

From the regional frame of reference, North America held majority of worldwide canned alcoholic beverages market share in the recent past, primarily due to increasing per capita expenditure and easy availability of alcohol beverages. Meanwhile, Asia Pacific market is slated to expand significantly between 2021-2027, owing to growing disposable income and expanding consumer base.
 

Leading players shaping global canned alcoholic beverages industry dynamics are Bacardi Limited,  Brown-Forman Corporation, Diageo plc, Union Wine Co., Anheuser-Busch InBev SA/NV, Treasury Wine Estates (TWE), Asahi Group Holdings, Ltd., E. & J. Gallo Winery, Pernod Ricard, and Integrated Beverage Group LLC.  
 

These companies are undertaking strategic decisions such as mergers & acquisitions, collaborations, partnerships, alliances, launch of new products, and investments in R&D efforts to enlarge profit margins and expand their user base.