Driven By the Increasing Popularity Of Outdoor Leisure Activities, Such As Overnight Camping, Recreational Vehicle (RV) Camping, Hunting, And Trekking, The Global Canned Wine Market Is Forecasted to Cross US$ 700 Mn by 2028 says Ken Research Study.
Wine is an alcoholic beverage produced from fermented grape juice. Wineries produce canned wine precisely in the same way that they produce bottled wine. The main distinction is that during the final stage of the winemaking process, winemakers place the finished product inside an aluminum can rather than a glass bottle. Furthermore, canned wines are more convenient than bottled wines as they are lighter to hold and do not necessitate a corkscrew to open. Furthermore, bottles/glasses are difficult to transport and likely shatter before they reach the destination, whereas canned wines are hassle-free and less fragile.
“Ken Research shares 3 key insights on this high opportunity market from its latest research study”
1. Canned Wine Market Continues to Grow Owing to the Increasing Adoption of Ready-to-Drink Products among Individuals.
The Global Canned Wine Market is expected to witness stable growth during the forecast period, owing to its portability, convenience, and sustainability coupled with canned wines. The global canned wine market was valued at ~US$ 200 million in 2017, it is estimated to be ~US$ 350 million in 2022 and is expected to reach a market size of ~US$ 700 million by 2028 growing with a CAGR of ~12%.
North America is the dominating region in the Global Canned Wine Market due to the increasing number of households participating in camping as an outdoor recreational activity. For instance, according to the 2022 North American Camping Report conducted by Kampgrounds of America, Inc. (KOA), a U.S.-based company that offers outdoor hospitality, camping accounted for 40% of all leisure trips in 2021, with nearly 53% of travelers travel.
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2. The Popularity of Outdoor Leisure Activities has grown in Recent Years, Increasing Demand for Portable Beverages, including Canned Wines.
The increased popularity of outdoor leisure activities, such as overnight camping, recreational vehicle (RV) camping, hunting, and trekking across countries is increasing demand for portable beverages, including canned wine. Furthermore, the rise in outdoor socializing, notably in 2021 when the lockdown restrictions are lifted, has resulted in a surge in the use of canned wine, as it is a more convenient option for travellers to carry than bottled wines, which require a cork to open and pose a risk of breakage or leakage. According to Norstat, a European media company, nearly 56% of Londoners of all ages prefer canned wines since they are light, handy, transportable, easy to carry & open, and allow for easy single-serving control.
3. The Meteoric Rise of Greenhouse Gas Emissions from the Production of Aluminium Cans May Impede the Growth of the Canned Wine Market.
The utilization of aluminum in cans, cars, and computers has increased in recent years. Aluminum has become a forefront of social structure since it is lightweight, strong, and infinitely recyclable. However, its production mainly consists of three major processes: mining, ore processing, and smelting to produce pure aluminum, all of which generate significant amounts of greenhouse gas emissions. For instance, according to the Center for Climate and Energy Solutions, a USA based non-profit organization, the smelting process accounts for nearly 17% of greenhouse gas emissions from the aluminum industry and 1% of global CO2 emissions.
Furthermore, depending on the source of primary aluminum used in production, the carbon footprint of a beverage can vary dramatically. For instance, primary aluminum from Canada is almost entirely produced using renewable hydropower, whereas primary aluminum from China is primarily produced using coal-generated power, making it carbon-intensive. In addition, the carbon footprint of a beverage can changes dramatically depending on the source of primary aluminum used in production. For example, primary aluminum from Canada is made almost exclusively using renewable hydropower, and primary aluminum from China is made largely with coal-generated power, making it carbon-intensive intensive.
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Key Topics Covered in the Report
- Snapshot of the Global Canned Wine Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Canned Wine Market
- Historic Growth of the Overall Global Canned Wine Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Canned Wine Industry
- Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Global Canned Wine Market
- Future Market Forecast and Growth Rates of the Total Global Canned Wine Market and by Segments
- Analysis of the Global Canned Wine Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Notable Key Players Mentioned in the Report
- E & J Gallo Winery
- The Wine Group
- Treasury Wine Estates
- Castel Group
- GRUPO PEÑAFLOR
- Union Wine Company
- Accolade Wines
- Canned Wine Co.
- FRANCIS FORD COPPOLA WINERY
- Sula Vineyards
Notable Emerging Companies Mentioned in the Report
- Banks Brother
- A.G. Barr
- Bacardi Limited
- Babe
- Brown-Forman
- Original House Wines
- Porch Pounder
- 14 Hands Winery
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Feedstock Suppliers (Wine Grapes)
- Wine Companies
- Vineyard Management Companies
- Wine International Association (WIA)
- World Wine Trade Group
- Specialty Wine Retailers Association (SWRA)
- National Association of Wine Retailers
- Wine Trade Association
- Supplier of Chemical Additives for Wines
- Metals and Materials Suppliers for Cans
- Beverage Cans Manufacturers
- Government Ministries and Departments of Food Industry
- Food Regulatory Authorities
- Alcoholic Beverages Regulatory Authorities
- Financial Institutions focused on Wine Industry
- PE and VC Firms focused on Wine Industry
- Food & Beverages Research Institutes
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For more information on the research report, refer to the below link:
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