Global Canned Wine Market Is Anticipated To Reach USD ~700 Million By The End Of 2028 – Ken Research
The Global Canned Wine market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
North America accounted for the largest share of the Global Canned Wine Market in 2022, owing to the increasing number of households participating in camping as an outdoor recreational activity. According to the 2022 North American Camping Report conducted by Kampgrounds of America, Inc. (KOA), a USA-based company that offers outdoor hospitality, more than 93.8 million North American households considered themselves campers.
The increased adoption of portable and convenient products by consumers, notably in USA, and Canada during travel and outings is also driving demand for canned wines over bottles.
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Competition Scenario in Global Canned Wine Market
The Global Canned Wine Market is highly competitive with ~150 players which include globally diversified players, regional players as well as a large number of country-niche players with their niche in modern packaging innovations, such as Trebodur Mabeerial, and Eco Rings to substitute traditional materials such as paper and plastics, and the reliance on plastic, which typically pollutes the environment. Moreover, companies are competing on various parameters such as partnerships, new products offering, business models, marketing strategies, pricing, campaign, and more.
Regional players comprise about ~55% of the total competitors, while country-niche players represent ~35% of competitors. Some of the major players in the market include E.&J. Gallo Winery, The Wine Group, Treasury Wine Estates, Castel Group, GRUPO PEÑAFLOR, Union Wine Company, Accolade Wines, Canned Wine Co., Sula Vineyards, Francis Ford Coppola Winery, and among others.
What is the Expected Future Outlook for the Overall Global CANNED WINE MARKET Across the globe?
The Global Canned Wine market was valued at USD ~million in 2022 and is anticipated to reach USD ~700 Million by the end of 2028, witnessing a CAGR of ~% during the forecast period 2022-2028. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Canned Wine market is driven by the rising popularity of outdoor leisure activities, such as overnight camping, recreational vehicle (RV) camping, hunting, and trekking building and construction industries. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
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With the increasing collaboration and emergence of new products, the Global Canned Wine market is changing rapidly. For instance, In May 2022, Accolade Wines introduced a canned format of its existing Hardys VR range of wines in three varietals, including Rosé, Chardonnay, and Shiraz across on- and off-premise channels in the market.
In February 2021, E. & J. Gallo partnered with Alixir Co. (doing business as Bev), a California-based wine supplier, to distribute Bev’s portfolio of premium canned wines across the USA.
The global Canned Wines market is forecasted to continue an exponential growth that is witnessed since 2017. The major driving factor contributing to the increasing consumption of canned wine is the rising living standards across countries, along with the increased social engagements, and adoption of western culture. Though the market is highly competitive with around ~150 participants, few country-niche players control the dominant share and regional players also hold a significant share.
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