The global premixed cocktail shots market is anticipated to grow at a robust CAGR of 6.1% between 2022 and 2032. The overall sales of premixed cocktail shots are likely to surpass USD 6,716 Million by 2032. As per FMI, the global premixed cocktail shots market recorded a valuation of USD 3,708 Million in 2022.
The growing preference for cocktail drinks among millennials is a significant trend influencing Japan’s premixed cocktail shots market. Cocktails are increasingly preferred over beer by Gen Z and millennials. Moreover, the popularity of cocktail parties featuring a range of beverages, including wines and spirits, is rising in Japan. Consequently, there is anticipated to be a surge in demand for premixed shots at these events throughout the forecast period.
As a result, major players are launching a variety of new products, notably vodka-based beverages like Vodka Red Bull and Vodka Orange, to capitalize on revenue opportunities and meet the increasing demand in the market. Moreover, the preference for cocktails containing bourbon, tequila, and other types of spirits is further driving growth in the premixed cocktail shots segment.
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While traditional Japanese sake rice wine faces competition from Western-style alcoholic beverages, it continues to maintain strong popularity. Sales of sake are expected to sustain steady growth, driven by its widespread availability and affordability compared to other distilled drinks. Conversely, sales of premixed cocktails featuring malt whiskey, gin, brandy, or scotch have seen a decline in recent years, despite their previous popularity.
Further, consumers are looking for a different experience and want to mix their own drinks according to their preferences. Millennials are seeking these new types of cocktails which offer both alcohol content and variety; this is creating a larger consumer base for premixed cocktail shots. Japan’s favorable stance towards drinking culture will drive its future growth, estimates FMI.
Key Takeaways from the Premixed Cocktail Shots Market
- Japan’s premixed cocktail shots market is anticipated to grow at a moderate CAGR during the forecast period.
- The premixed cocktail shots in Japan accounted for a significant market valuation in the base year.
- Increasing preference for a wide variety of liquor and drinks among Japanese will drive the demand in the market.
- As people shift towards Japanese to western drinks the demand for premixed cocktail shots in the younger generation is expected to rise at a rapid pace.
Competition Landscape in the Premixed Cocktail Shots Market
Key companies are focusing on innovating their product portfolios by introducing new and advanced products. Further, they are implementing various other tactics, such as partnerships, mergers, acquisitions, and collaborations to strengthen their position in the global market.
Suntory Holdings Asahi Group Holdings, Ltd, and Sapporo are the leading players in japan premixed cocktail shots market.
Recent Developments
- In March 2020, in an effort to capitalize on its ready-to-drink beverage success in Japan, beverage producer Suntory Holdings will offer a new alcopop to Taiwanese consumers.
- In June 2022, Asahi Group Holdings, Ltd. is thrilled to announce that Asahi Breweries, Ltd., the business responsible for the Group’s alcoholic beverage business in Japan, will start the SHIBUYA SMART DRINKING PROJECT on June 29 and open a permanent site, SUMADORI-BAR SHIBUYA, in Shibuya, Tokyo, through a joint venture firm.
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Key Segments Profiled in the Premixed Cocktail Shots Industry Survey
Premixed Cocktail Shots Market by Primary Ingredient:
- Malt-based Premixed Cocktail Shots
- Wine-based Premixed Cocktail Shots
- Spirit-based Premixed Cocktail Shots
- Others Premixed Cocktail Shots
Premixed Cocktail Shots Market by Additive Ingredient:
- Alcoholic
- Non-alcoholic
Premixed Cocktail Shots Market by Sales Channel:
- Liquor Store
- Hypermarket/Supermarket
- Convenience Store
- Online Retail
- HoReCa
- Others
Premixed Cocktail Shots Market by Region:
- North America Premixed Cocktail Shots Market
- Latin America Premixed Cocktail Shots Market
- Europe Premixed Cocktail Shots Market
- Asia Pacific Premixed Cocktail Shots Market
- Middle East and Africa Premixed Cocktail Shots Market
About Future Market Insights (FMI)
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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