Asia Pacific Canned Alcoholic Beverages Market Size & Outlook
Asia Pacific canned alcoholic beverages market, 2017-2030 (US$M)
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Asia Pacific canned alcoholic beverages market highlights
- The Asia Pacific canned alcoholic beverages market generated a revenue of USD 269.6 million in 2021.
- The market is expected to grow at a CAGR of 29.2% from 2022 to 2030.
- In terms of segment, rtd cocktails was the largest revenue generating product in 2021.
- Hard Seltzers is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Australia is expected to register the highest CAGR from 2022 to 2030.
Asia Pacific data book summary
| Market revenue in 2021 | USD 269.6 million |
| Market revenue in 2030 | USD 2,702.8 million |
| Growth rate | 29.2% (CAGR from 2021 to 2030) |
| Largest segment | Rtd cocktails |
| Fastest growing segment | Hard Seltzers |
| Historical data covered | 2017 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Wine, RTD Cocktails, Hard Seltzers |
| Key market players worldwide | Bacardi, Diageo PLC, Brown-Forman Corp Class A, Anheuser-Busch InBev SA/NV, Treasury Wine Estates Ltd, Asahi Group Holdings Ltd, Pernod Ricard SA, E & J Gallo Winery, Constellation Brands Inc Class A, Sula Vineyards, Union Wine, Integrated Beverage Group, Kona Brewing Company, Suntory Holdings |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 2.7% of the global canned alcoholic beverages market in 2021.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,702.8 million by 2030.
Rtd cocktails was the largest segment with a revenue share of 66.51% in 2021. Horizon Databook has segmented the Asia Pacific canned alcoholic beverages market based on wine, rtd cocktails, hard seltzers covering the revenue growth of each sub-segment from 2017 to 2030.
North America and Europe canned alcoholic beverage markets are tending towards saturation; hence market players are moving to Asia Pacific countries and expanding their production facilities. Major factor driving the Asia Pacific canned alcoholic beverages market growth is the presence of young consumers and rapidly growing economies.
In developing countries, majority share of the alcohol consumed is held by homemade or illegally produced alcohols and, therefore, alcohol consumption per capita is low on record. In 2018, consumption of homemade or illegally-produced alcoholic beverages in the Southeast Asia Pacific region accounted for approximately 69.0%.
Countries with higher spending capacity per capita witness lesser unrecorded alcohol consumption. With growing structured market share and increasing spending capacity of consumers, the Asia pacific canned alcoholic beverages market is expected to grow at a prominent rate throughout the forecast period.
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Canned Alcoholic Beverages Market Scope
Canned Alcoholic Beverages Market Companies
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Asia Pacific canned alcoholic beverages market size, by country, 2017-2030 (US$M)
Asia Pacific Canned Alcoholic Beverages Market Outlook Share, 2021 & 2030 (US$M)
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