ALEXANDRIA, Va. – Canned wine with pull-tops instead of corks is already a $45 million business, according to Nielsen.
As reported by CNBC, wine in cans has become a staple for young drinkers over the last several years. Canned wine sales jumped 43% in the U.S. from June 2017 to June 2018, according to BW 166, a beverage alcohol market research firm.
Although it’s a tiny part of the overall wine industry with about 0.2% of total sales, canned wine is growing thanks to millennial drinkers. Bottled wines grab nearly 90% of the industry's sales but are growing much more slowly. Boxed and bagged wines make up the remaining market share.
Compared with previous generations, today's young adults are more likely to drink wine than beer, according to Ray Isle, executive wine editor at Food & Wine. However, they don't have as much disposable income, making affordable canned wines more appealing.
“Millennials aren't looking to spend $70 on a bottle of wine,” Isle said.
An average 750-mL bottle of wine costs between $11 and $25. Canned wine is $4 to $7 for a 375-mL can, about the same volume as half of a bottle or 2.5 glasses. Cans can be taken places that glasses cannot, such as the beach, parks and campsites.
As a bonus, wine cans are easier to recycle than glass and are perceived as less pretentious to casual drinkers. One in four wine consumers said they would be more open to trying new wines if they didn't have to buy a full-sized bottle, according to research by E. & J. Gallo Winery.