Canned alcoholic beverages to grow to over $123 billion by 2034

In 2024, the canned alcoholic beverages market was valued at US$20.69 billion. This industry is expected to grow from US$24.75 billion in 2025 to US$123.93 billion by 2034, at a compound annual growth rate (CAGR) of 19.6% during the forecast period (2025-2034), according to data provided by Market Research Future. The increase in demand is primarily driven by the convenience of transporting these beverages, ready-to-drink cocktails and the sustainability of metal packaging.

These beverages are especially impacting the millennial world who are also looking for high-end premium products
Younger generations, such as millennials, are the most inclined to consume alcoholic beverages in cans, seeking high-end products with innovative flavors and very appealing and special packaging. Young people are willing to invest in beverages that provide enjoyable experiences rather than simply traditional alcoholic beverages. The portability of cans, which weigh less than 15 grams, makes them the ideal package for their strength, lightness and ability to store and preserve the beverage.

Insights by Product
The canned alcoholic beverages market is segmented into wine, ready-to-drink (RTD) cocktails, and hard seltzers. In 2022, hard seltzers, or carbonated beverages, dominated the global hard seltzers market. Hard seltzers are alcoholic beverages made from malted barley or neutral grain spirits. Their low-calorie nature has favored their popularity. New product introductions, growing demand for gluten-free beverages, and health concerns are expected to continue to drive the hard seltzer market.

In 2022, liquor stores accounted for more than 54.4% of revenues. For the time being, they are still the most popular in the sale of this product, both for variety and the possibility of finding premium brands.

The report shows that North America dominated the market in 2022. The availability of a wide variety of alcoholic beverages has been key to this growth. In addition, growing demand for premium alcoholic beverages, especially beers and vodkas, is driving the market expansion in this region.

The canned alcoholic beverages market in Europe ranks second in terms of market share. The shift toward convenient, high-quality beverages has accelerated the growth of this industry in the region. Germany holds the largest market share, while the United Kingdom is the fastest growing market in Europe.

The Asia-Pacific region is expected to grow at the highest CAGR between 2023 and 2032, due to the availability of affordable alcoholic beverages and increasing preference for canned beverages. China has the largest market share in this region, and the canned alcoholic beverage industry in India is the fastest growing.

Leading companies in the industry are currently investing in research and development to expand their product line and drive market growth. It is a tremendously dynamic sector with new product launches, mergers, acquisitions and collaborations that allow for a broader market presence.

The major brands present in the canned spirits market are: Bacardi Limited, Diageo, Anheuser-Busch InBev, Treasury Wine Estates, Union Wine Company, Brown-Forman Corporation, E. & J. Gallo Winery, Asahi Group Holdings, Ltd, Pernod Ricard, Sula Vineyards, Kona Brewing Co, Suntory Holdings Limited, Barefoot Cellars and Constellation Brands, among others.