SAN FRANCISCO, July 16, 2020
SAN FRANCISCO, July 16, 2020 /PRNewswire/ --–The global canned wines market size is expected to reach USD 155.1 million by 2027, expanding at a CAGR of 10.4% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for portable and less fragile wine containers than glass for increased convenience is a key factor fueling the market growth. Moreover, increasing participation in outdoor recreational activities, such as camping, fishing, and hiking, is propelling the demand for the product.
Over the past few years, increasing enthusiasm for outdoor recreational activities has opened new avenues for canned wines. Millennials and working class people are increasingly spending on wine over other alcoholic beverages, such as whiskey and rum. Moreover, these metal cans are less expensive than the glass bottles, more environment friendly, and have considerably higher recycling rate than glass. These advantages are expected to boost the demand for these canned drinks over the forecast period.
Key suggestions from the report:
Read 80 page research report with ToC on "Canned Wines Market Size, Share & Trends Analysis Report By Product (Sparkling, Fortified), By Distribution Channel (On-trade, Off-trade, Online Retail), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/canned-wines-market
North America emerged as the largest regional market for canned wines with a share of more than 35.0% in 2019 owing to increasing number of households participating in camping as an outdoor recreational activity. According to the statistics provided by the 2019 North American Camping Report, the number of camping households in U.S. increased by 1.4 million from 2017 to 2018. Moreover, major players in the market are launching new products in order to increase the booze tourism in the region.
The market is slightly fragmented owing to the presence of a number of domestic as well as international players across the globe. Moreover, major players are adopting various market strategies in order to capture greater market share. For instance, in March 2020, Integrated Beverage Group (IBG) announced the acquisition of Ransom Wine Co. & Distillery.
Grand View Research has segmented the global canned wine market on the basis of product, distribution channel, and region:
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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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