The global canned wines 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.
Browse Full Report (Tables & Figures) @ https://www.grandviewresearch.com/industry-analysis/canned-wines-market
Grand View Research, Inc.
201 Spear Street 1100,
San Francisco, CA 94105