Canned Cocktails and The Future
Whether it is a party or a Friday night wherein you simply want to unwind, there is no other better feeling in the world than to just crack open a cold can of your favorite beverage and relax. Canned cocktails are nothing but a can of happiness that can not only help unwind but is the starter of so many new conversations and friendships. And did we mention variety? The amount of choice available in the markets are huge and there is always that one drink available for everyone’s taste palette. Not just that, there is a complete section of canned cocktails available for people who are health conscious. This amazing can of happiness is what is also known as a ‘canned cocktails and alcoholic beverage companies are working at infiltrating the canned cocktail market as soon as possible. According to Ross Graham, CEO of Miami Cocktail Company “Much of the trend of ready-to-drink is being driven by a broad-based desire to find better-for-you options. With respect to alcoholic beverages, that means lower calorie, lower ABV drinking. Consumers are also looking for convenience and canned beverages are just really, really easy.”
These cans made their debut back in the 1800s when the original cocktail boom was just beginning. These are not only available in several flavors but are also of huge convenience. With a shelf life of three months, these bad boys are available in a range of alcoholic and non-alcoholic versions so that nobody gets left out. It gets even more, deeper with options of light and strong versions of the drink too for people who like their drinks strong or light in a certain way.
Popularity and growth
Canned cocktails are one of the best categories of alcoholic beverages and never cease to impress. Based on the growing popularity and growth, it shows no sign of slowing. Companies that are making their debut into the market of canned cocktails have seen the craze for cocktails in bars and pubs across the world and we know that the alcoholic beverage industry is already driven due to gen Y’s trending shift from simple beers and wines to cocktails.
According to Stallion research, ready to drinks such as hard seltzers and malt-based flavors are poised to have tremendous growth in the next two years. The sales have been off the charts mainly for three rum-based cocktails. Mainly lime and soda, Limon and lemonade, and rum punch. Since these products belong to the BACARDI family, that they have doubled their initial estimate of the product since these get sold out before even spending a little time on the shelves.
It further shows that, the canned cocktail market looks at expanding at a compound growth rate of over 21% during the forecast period of 2021-2030. Sadly, the involvement of Covid has resulted in supply shortages and has affected so many different industries and manufacturers.
Unfortunately, the effect of COVID-19 has brought with it momentary implications and a negative impact on the canned cocktails market. The entire drink business is seeing a significant decline in utilization and extreme disturbance in supply chains. Several new product launches have either gotten cancelled or postponed due to the COVID-19 pandemic. Since one of the main factors which is farming produce, which contains essential materials for manufacturing malt and beer has been heavily affected, this has resulted in the complete disruption of regular processes.
However, once the pandemic subsides and results in partial openings all over the globe, the canned cocktail market is expected to boom. After all, watching the pandemic fade away and meeting your family and friends will be a reason to celebrate! And what other way could be better to do this other than cracking open your favorite canned cocktail and toasting it to a new beginning?
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