Growing Western Influence and Rising Millennial Population to Drive Asia-Pacific’s Canned Wines Market

Introduction

Asia-Pacific region is expected to witness rapid growth in the canned wines market, owing to the consistently rising population, coupled with the rapid urbanization and growing western influence. Rising demand for high-end products due to improving purchasing power is anticipated to be the key factors fuelling the regional market growth. India and China hold a significant share in the regional market, against the backdrop of favorable government norms and rising FDI. Moreover, with innovations and strong retail and distribution network in the region, the companies are striving to increase their sales and achieve higher revenues.  

Impact of COVID-19

The COVID-19 outbreak started in China, has severely impacted the wine industry. As the number of cases continues to increase worldwide, the governments across the globe have imposed lockdowns and social distancing norms, creating disruptions in the global supply chain. This has caused adverse effects on the import and export of wine to the international and domestic markets.

The pandemic has had a massive impact on the on-premises and travel business, further affecting the market growth. To cope up with the pandemic in the coming times, the key players are focusing on reshaping their business models. However, there will be slight growth in the DTC and e-commerce market as individuals prefer in-house consumption.

Key Highlights

• The canned wines market is expected to grow at a lucrative growth rate with a CAGR of xx% owing to the rising awareness of health benefits associated with wine and the growing millennials consumer base
• The online sales segment holds the highest market share in the canned wines market on account of ease of buying and doorstep delivery options provided by the online platforms
• Europe dominates the canned wines market as wine is the second most preferred alcoholic beverage in the region

Competitive Players

Key Players

• Beach Juice
• E & J. Gallo Winery
• IBG Wines
• Shamps Beverage LLC
• Sans Wine Co
• Winesellers Ltd.
• Precept Wine, LLC
• Union Wine Company
• The Family Coppola
• Constellation Brands, Inc.
• Old Westminster Winery
• MANCAN Wine
• Field Recordings  

Recent Developments

Segmentation

Canned Wines Market Segmentation

By Type

• Red Wine
• White Wine
• Sparkling Wine
• Fortified

By Distribution Channel

• B2B
• B2C
  • Specialty Retail Stores
  • Forecourt Stores
• Online Retail

By Region

• North America
• Europe
• Asia-Pacific
• South America
• The Middle-East and Africa