Canned Wine Market: Online Distribution Channel Segment Is Anticipated To Register The Fastest CAGR From 2021 To 2028
Canned Wine Industry Overview
The global canned wine market size is expected to reach USD 571.8 million by 2028, registering a CAGR of 13.2%, according to a new report by Grand View Research, Inc. Shifting consumer preference for convenient, portable, and single-serve wine products is expected to be a key factor contributing to the growth of the market. An increasing number of college students and working individuals have been shifting their preference for alcoholic beverages from high alcohol by volume (ABV) dark spirits, such as whiskey and rum, to low ABV drinks like wine and vermouth.
Increasing spending by millennials and Gen Xers on canned wines in the U.S., the U.K., Germany, Japan, and Australia over the past few years has also fueled the market growth. Canned beverages are highly convenient due to the compact size of cans. Moreover, there has been a growing demand for portable and less fragile wine containers than glass. These factors are projected to support the market growth.
The rising popularity of outdoor sports and recreational activities among younger generations has boosted the demand for canned wine. The canned format of packaging adds to the premium appearance and enhances the overall appeal of the product; thus, manufacturers have been trying to tap this market with more product launches in this format. For instance, Sans Wine Company offers 375ml cans at a premium price of USD 12 – USD 25 each. The market is fragmented with the presence of a large number of domestic as well as global players.
Canned Wine Market Segmentation
Grand View Research has segmented the global canned wine market on the basis of product, distribution channel, and region:
Based on the Product Insights, the market is segmented into Sparkling, Fortified, and Others.
- The sparkling product segment accounted for the largest revenue share of more than 66% in 2020 and is expected to maintain dominance over the forecast period. Key players are launching new products in this segment for customer retention as well as to attract new customers.
- The fortified product segment is projected to register the fastest CAGR during the forecast period. Customers are welcoming the new variants of fortified wines with various hard spirits as they get both the taste and flavor of the wine as well as spirit in one product.
Based on the Distribution Channel Insights, the market is segmented into Supermarket & Hypermarket, Online, and Other Stores.
- The supermarket & hypermarket distribution channel segment accounted for the largest revenue share of more than 64% in 2020. With the increasing number of supermarkets and hypermarkets across the globe, major product manufacturers are making their products available through offline sales channels.
- The online distribution channel segment is anticipated to register the fastest CAGR from 2021 to 2028. Online sales channels, such as official websites, are extremely helpful as they provide detailed information on outstanding wines or specific vintage collections, particularly to experts and connoisseurs, as well as basic information about wine and its consumption to amateur wine lovers.
Canned Wine Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is still in its nascent stage where key players plan to launch their products as per the gradual shifting of consumer preferences. Wine manufacturers try to create products that address evolving consumer tastes and preferences or complement their food and health requirements. A differentiated brand that is relevant to and targeted at specific consumers and trends has more chances of achieving success than those that appear to be a mass product. For instance, in April 2020, Molson Coors Beverage Company announced the launch of its new line of canned wine spritzers under the brand name ‘Movo’ in the U.S. market. The product is available in three flavors including Blood Orange Sangria, Raspberry Rosé, and Peach White Blend. Such product launches increase brand visibility across the globe.
Recent Developments
- In April 2022, DEFY an organic wine company launched its crowdfunding initiative through WeFunder with a secured fund of USD 500k to support its marketing activities, production, and sales. This funding is a way to move toward the market of the United States. The development aims to create a sustainable position for the brand by providing organic and high-quality canned wines for the consumers. This is expected to lead to increased consumption of the drink for different occasions, spurring high demand and growth of the target market
- On June 8, 2022, the E.&J. Gallo became the authorized wine sponsor for the National Football League, to enhance their branding at the events and encourage team support. Through this strategic sponsorship, Gallo has attained proficiency to expand and diversify its product portfolio, with the evolving demands and consumer preferences across regions. This development is expected to increase the brand's performance in terms of sales and revenue, thereby contributing to the growth of the market
Some of the prominent players operating in this market include:
- E & J Gallo Winery
- Union Wine Company
- Integrated Beverage Group LLC
- SANS WINE CO
- Sula Vineyards Pvt. Ltd.
- The Family Coppola
- The Canned Wine Company
Order a free sample PDF of the Canned Wine Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Grand View Research, Inc.
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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