What Is The Size Of Global Canned Wine Industry?
The Canned Wine Market is largely driven by the rising popularity of outdoor leisure activities, such as overnight camping, recreational vehicle (RV) camping, hunting, and trekking building and construction industries.
The growing consumer inclination toward ready-to-drink products, owing to their hectic work schedules, and busy lifestyles is likely to boost the demand for canned wines.
The meteoric rise of greenhouse gas emissions from the production of aluminum cans may impede the growth of the canned wine market.
The ongoing COVID-19 pandemic has resulted in an unprecedented drop in the global wine trade in 2020, due to the lockdowns imposed by several governments across countries, which have halted wine production. Furthermore, extensive closures of restaurants and bars, as well as the restrictions on socializing have lowered the sales of canned wine.
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Global Canned Wine Market By Type
The Global Canned Wine market is segmented by Type into Sparkling Wine, Fortified Wine, Still Wine and Others.
The Sparkling Wine segment held the largest share of the Global Canned Wine Market in 2022, owing to the rapid socioeconomic changes and fast-paced urbanization, along with the continuous rise in living standards across countries are propelling the demand for sparkling wines.
In May 2020, according to Forbes, a USA-based media company, sparkling wine production has increased by 57% since 2002, with 2.5 billion sparkling wine bottles produced in 2019. Furthermore, sparkling wine is exported significantly more than other wines. Sparkling wine accounts for 19% of Italian wine exports, 14% of French wine exports, and 9% of Spanish wine exports.
Global Canned Wine Market By Color
The Global Canned Wine market is segmented by Color into Red, Rose and White. The Red segment held the largest share of the Global Canned Wine Market in 2022, owing to its higher levels of vitamins and minerals, which helps in boosting the immune system.
Red wine is typically cultured with grape skins and seeds, and it is high in phytonutrients that provide numerous health benefits, such as lowering the risk of heart disease, increasing good High-Density Lipoprotein (HDL) cholesterol, easing joint pain, increasing insulin sensitivity, lowering the risk of osteoarthritis, and more.
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Global Canned Wine Market by distribution channel
The Global Canned Wine market is segmented by Distribution Channel into Supermarket/Hypermarket, Specialty Stores, On Trade and Others.
The Supermarket/Hypermarket segment held the largest market share of the Global Canned Wine Market in 2022.
The growth is mainly attributed to the availability of a variety of products at lower prices as compared to bars, restaurants, nightclubs, hotels, and other on-trade channels.
The modernization of retail stores across countries, notably in emerging countries, is increasing revenue generation through off-trade sales channels, such as supermarkets/hypermarkets.
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