The reasons behind the booming market for canned alcoholic beverages by 2031

In less than a decade, canned alcoholic beverages will be among the most demanded by consumers worldwide. According to a recent report by Coherent Market Insights, the canned alcoholic beverages market is expected to achieve significant growth in the coming years. It is projected to reach $17.19 billion by 2031, with a compound annual growth rate of 13.8% between 2024 and 2031. This market is currently worth close to US$6.11 billion and is expected to continue to grow in the coming years.

For many consumers, canned alcoholic beverages are a very attractive option for portable consumption of beers, ciders, wines and cocktails. They are also increasingly popular with young adults and the millennial generation for outdoor events and social gatherings.

These types of drinks are ideal for activities such as picnics, camping and beach parties, as they are light, easy to transport and do not require any additional equipment for consumption. This convenience factor is expected to further drive demand for canned alcoholic beverages in the current market.
Increasing popularity of outdoor events and preference for easy and simple consumption is expected to increase the demand for canned alcoholic beverages.
An important trend in the canned alcoholic beverage market is the increasing demand for low-alcohol or non-alcoholic options. As consumers change their preferences and become more health conscious, they are looking for alternatives to traditional alcoholic beverages.

More and more people are adopting a more moderate or non-alcoholic lifestyle, which has led to an increase in demand for low- or non-alcoholic canned options. These beverages provide consumers with the opportunity to enjoy the taste and experience of alcoholic beverages, but without the effects of high alcohol content. This trend is due to a shift in consumer preferences towards less intense and healthier options.

A growing trend in the market is canned alcoholic beverages with a mix of ready-to-drink cocktails. These drinks offer the convenience of enjoying a cocktail without the need for cocktail-making skills or complex ingredients.

The sale of ready-made canned cocktails offers customers a simple and practical alternative to enjoy their favorite drinks at home or on the go. This mix of convenience and diversity in cocktail selection is what attracts consumers to opt for this option.