Demand for pre-mixed cocktail shots is expected to reach US$ 3,708 million in 2022, rising at a 6.1% CAGR to US$ 6,716 million from 2022 to 2032. Growth is linked to cocktail beverages’ rising popularity. A CAGR of 5.6% was recorded for the market for premixed cocktail shots from 2016 to 2021. Cocktails that have been pre-mixed and packed for immediate consumption are known as premixed cocktail shots. Pre-mixed cocktail shots are a subset of the relatively new genre of confecting wine.
Premixed cocktail shots are premade shots that come in durable plastic glasses with peel-away foil toppers. These premixed cocktail shots are available in pack of 2, 4, 6, or 15 with an ABV (alcohol by volume) of more than 20%. This is a fresh concept that took off in the year 2013 with only two companies manufacturing it – LIQS and Twisted Shotz – both of which have received a great response in the North American Market.
Both these market players operate in the U.S. and Canada selling their products through retail stores, events, and on online platforms. Over the years, LIQS has developed 100% natural, low-calorie, and gluten-free flavours blended with either spirits or wine while Twisted Shotz has focused on fun fruity flavours with catchy cocktail names.
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According to FMI, the overall premixed cocktail market has recorded great success in the past two years and is projected to record a striking growth rate over the forecast period. Similarly, the market for cocktail-premixed shots is expected to follow in the footsteps of more market players entering the market in the near future.
Effective Target Marketing is Carrying the Market to Souring Heights
Premixed cocktail shots market players are changing the game with their portable ready-made mixtures of premium spirits, real fruit juice, and natural flavours. Over the years, the market players promoted their products through celebrity endorsements, collaboration with social media influencers, and by sponsoring in top music festivals, major arenas and high-profile events.
With an active number of youngsters present on social media and their huge attendance at music festivals and other such major events, the market players were able to penetrate the cocktail market recording growing popularity, increased sales figures, and great response from the customers.
Youngsters these days have a tendency to try out new things and develop a liking towards them instantly, making them the most vulnerable target market for premixed cocktail shorts market players.
They also happen to be the ones that drive market trends pertaining to natural foods, low-calorie foods, and foods free from allergens, to which the market players such as LIQS has the requisite product. Premixed cocktail shots are sold in bars, liquor stores, nightclubs, golf courses, hotels, festivals, music venues, and many other venues across North America.
Global Premixed Cocktail Shots: Key Players
Some of the key players manufacturing Premixed cocktail shots are as follows –
- Bacardi & Company Limited
- Diageo Plc
- Heineken NV
- Altia Oyj
- Carlsberg A/S
- Belvedere SA
- Ball Corporation
- The Whisky Exchange
- Suntory Holdings
- Mark Anthony Brands LIQS
- Twisted Shotz.
Opportunities for Global Premixed Cocktail Shots Market Participants
The product is only available in the North American market at present and is expected to drive sales once introduced in the European market. Designed for home, boat, beach, tailgating, weddings, bbq’s, and parties the product has developed quite a liking among the North American consumers.
The premixed cocktail shots are ideal solutions to the problem of long bar lines at high volume venues such as concerts, music festivals, casinos, night clubs, hotel pool party’s and many other venues, that is, buying a convenient and premium mixed shot that can be enjoyed without the hassle of mixing or waiting in long lines.
The market is expected to overshoot with the end of the COVID-19 pandemic and with the resumption of large scale gatherings and festivals.
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Global Premixed Cocktail Shots: Market Segmentation
Based on Primary Ingredient :
- Malt-based
- Wine-based
- Spirit-based
- Others
Based on Additive Ingredient :
- Alcoholic
- Non-alcoholic
Based on Sales Channel :
- Liquor Store
- Hypermarket/Supermarket
- Convenience Store
- Online Retail
- HoReCa
- Others
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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