It’s time to ditch your corkscrew.
Canned wine isn’t just a passing summer fad, it’s a $45 million business, according to Nielsen.
- Sales of canned wine grew 43 percent in the U.S. from June 2017 to June 2018.
- While canned wine is still a tiny portion of the wider industry, it is one of the fastest growing categories thanks to millennial drinkers.
- These cans can be brought to places that glasses cannot, like the beach, the park and campsites and are also easier to recycle than glass bottles. Some casual drinkers also see canned wine as less pretentious.
Wine in cans with pull-tops instead of corks isn’t new, but it has become a staple for young drinkers over the last few years and the trend shows no sign of slowing down. Sales of canned wine grew 43 percent in the U.S. from June 2017 to June 2018, according to BW 166, a beverage alcohol market research firm.
While canned wine is still a tiny portion of the wider industry, with about 0.2 percent of total wine sales, it’s growing rapidly thanks to millennial drinkers, according to Nielsen data. By comparison, bottled wines grab nearly 90 percent of the industry’s sales, but are growing much more slowly. (Boxed and bagged wines take the remaining market share.)
Compared with previous generations, today’s young adults are more likely to drink wine than beer, Ray Isle, executive wine editor at Food & Wine, told CNBC. However, they don’t have as much disposable income, making more affordable wines in cans more appealing.
“Millennials aren’t looking to spend $70 on a bottle of wine,” Isle said.