A recent report ongoing by Infinium Global Research on canned wine market provides in-depth analysis of segments and sub-segments in the GCC as well as regional canned wine market. The study also highlights the impact of drivers, restraints, and macro indicators on the GCC and regional canned wine market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of GCC canned wine market. According to the report, the GCC canned wine market is projected to grow at a significant CAGR over the forecast period of 2021-2027.
In the gulf cooperation council (GCC) region, the wine industry is evolving rapidly. Wine is an alcoholic beverage that generally comes in a bottle and has its place on the table. Wine is the most consumed liquor. Consumers enjoy it almost at every party or in a very small meeting. However, it is complicated to carry a glass bottle of wine along with drinking glasses at picnics. So, to beat this constraint, canned wines came into existence, which got huge popularity and love from consumers because it's portable and sturdy. The large wine-consuming population and presence of several suppliers in the local stores have helped the market to drive in the region. Growing expenses on the consumption of canned wines have also supported the growth of the market in the region.
The rising utilization of standard and qualitative wines is making canned wine a robust choice for consumers, as compared to glass bottles. Furthermore, canned wine is gaining popularity among consumers across the world attributable to its portability similar to the convenience to stay cold on beaches, during overnight camping trips, and other outdoor recreational activities. This growth is essentially fuelled by the increase in wine consumption, increasing income, increase in production of wine, and changing climatic conditions. Increasing consumption of hard drinks in GCC countries by the young population is expected to boost the market growth in the GCC countries. Supportive government rules and regulations of alcohol consumption in UAE for tourists visiting various destinations will propel the market growth in the country.
On the basis of region, UAE holds the largest market share in the GCC canned wine market. The country is developing in terms of innovative flavor and is the number one market in the GCC in terms of growth and size. Innovative flavor and increasing inclination of tourists in the country will boost the growth of the market in the region during the forecast period. The rising consumption of various vintage wines available in canned format is expected to boost the growth of the GCC region. Increased hard drink consumption among the young population, and millenials and rising disposable income of the population, are driving the growth of the GCC canned wine market in the region. However, the recent outbreak of the various viruses in Saudi Arabia reduced wine consumption in UAE.
The report on GCC canned wine market covers segments such as product, and distribution channel. On the basis of product, the sub-markets include sparkling fortified, and fortified. On the basis of distribution channel, the sub-markets include supermarket & hypermarket online, and online.
The report provides profiles of the companies in the market such as E & J Gallo Winery, Constellation Brands, Union Wine Company, Integrated Beverage Group LLC, SANS WINE CO, Sula Vineyards Pvt. Ltd., The Family Coppola, Santa Julia, Winesellers Ltd., and Old Westminster Winery.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the GCC canned wine market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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