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Canned Wine Market Size Sees Future Growth Trajectory

By August 24, 2020Top News

The global canned wines market size is expected to reach $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. Increasing participation in outdoor recreational activities, such as camping, fishing and hiking, is propelling the demand for the product. Millennials and working-class consumers are increasingly spending on wine over other alcoholic beverages. By product, sparkling canned wine held the largest share of more than 60% in 2019 and is expected to maintain its lead over the forecast period. Fortified canned wine is expected to exhibit the fastest CAGR of 10.7% from 2020 to 2027. North America led the canned wine market and accounted for a share of more than 35% in 2019, owing to substantial consumption among millennials in the U.S.

 

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