Pune, India, Sept. 27, 2021 (GLOBE NEWSWIRE) -- The Europe canned beverages market size is expected to gain momentum by reaching USD 205.99 billion by 2028 from USD 156.38 billion in 2021 while exhibiting a CAGR of 4.0% between 2021 to 2028. In its report titled, “Europe Canned Beverages Market, 2021-2028.” Fortune Business Insights™ mentions that the market stood at USD 154.48 billion in 2020.
By product type, the market is segmented into alcoholic beverages, dairy-based beverages, sports & energy drinks, RTD coffee & tea, fruits & vegetable juices, and others.
Based on type, the alcoholic beverages segment held 31.73% of the Europe canned beverages market share. This is attributable to the large alcohol consumption population in the region. For instance, according to a report by the Economic Cooperation and Development (OECD), in 2018, the average alcohol consumption among European adults was around 10 liters. However, in today's scenario, people prefer to drink less but better. Such a factor is likely to boost the revenues from the light beers in the region.
Based on the distribution channel, the market for Europe canned beverages is divided into supermarkets/hypermarkets, specialty stores, convenience stores, online retail, and others. Lastly, in terms of region, the report talks about only Europe.
What does the Report Provide?
The market report provides a thorough analysis of various factors such as the drivers and restraints that will impact the market’s growth. In addition, the report provides country insights that cover different regions of the country, contributing to the growth of the market. It includes the competitive landscape, recent industry developments that involve the strategies, new launches, and several other insights of leading players that will contribute to the market’s growth.
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Rising Demand for Soft Drinks to Drive Market Growth
The increasing demand for soft drinks is expected to drive the Europe canned beverages market growth. For instance, as per the data presented by the Union of European Soft Drinks Associations (UNESDA), in 2019, the sales volume of soft drinks in Europe was 50,041.2 million liters. Its consumption increased by 0.7% from the previous year. Besides this, growing consumer preference towards alcohol subscription box services is further anticipated to fuel the market. As data by Craft Gin Club, an alcohol subscription box service provider, reported USD 13.20 million of its annual revenues in 2018, compared to USD 4.87 million in 2017.
Increased Consumption of Soft Drinks and Alcoholic Beverages to Aid Growth
The increased consumption of packaged beverages such as soft drinks and premium quality alcohol in Europe is set to boost growth. For instance, according to the data published by the UNESDA Soft Drinks Association, in 2019, total sales of soft drinks & diluting in Europe were nearly 128,853.6 million liters. Additionally, the increased awareness among the European population about health & fitness is further driving the region's demand for vegan energy drinks.
Germany's canned beverages market stood at USD 40.53 billion in 2020. Furthermore, the country is anticipated to lead the overall European canned beverages industry due to the large alcohol consumption among the German population.
Key Players to Focus on Collaborations to Intensify Competition
The market for Europe canned beverages is consolidated by the presence of major companies that are striving to maintain their position by establishing partnerships, collaborations, and new launches. For instance, in April 2020, Anadolu Efes Biracilik ve Malt Sanayii A.S. collaborated with AB InBev to launch Kvass. It is a non-alcoholic beverage that will offer consumer demand for the tinned light beers in the Russian region, and this is expected to favor the market's growth in the forthcoming years.
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Key Industry Development
January 2021 –English songwriter Ellie Goulding acquired a major stake in the U.K.-based SERVED. The company SERVED is planning to expand its canned seltzers’ business in the France, Ireland, and Spanish markets.
List of Key Market Players Profiled in the Europe Canned Beverages Industry Report:
- Anheuser-Busch InBev (Leuven, Belgium)
- Diageo Plc. (London, U.K.)
- Heineken NV (Amsterdam, Netherland)
- Pernod Ricard S.A. (Paris, France)
- Carlsberg Breweries A/S (Copenhagen, Denmark)
- Coca-Cola HBC AG (Zug, Switzerland)
- PepsiCo Inc. (New York, U.S.)
- Anadolu Efes Biracilik ve Malt Sanayii A.S. (Istanbul, Turkey)
- Red Bull GmbH (Fuschl, Austria)
- Nestle S.A. (Vevey, Switzerland)
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Major Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview on the Beverages Consumption Trend
- Supply Chain Analysis
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Mergers & Acquisitions, and
- New Product Launches
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities Due to COVID-19
- Europe Canned Beverages Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type (Value)
- Alcoholic Beverages
- Dairy-based Beverages
- Sports & Energy Drinks
- RTD Coffee & Tea
- Fruits & Vegetable Juices
- By Distribution Channel (Value)
- Specialty Stores
- Convenience Stores
- Online Retail
- By Country (Value)
- The U.K.
- Rest of Europe
- By Product Type (Value)
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