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 US$ 6,716 Mn by 2032. As per FMI, the global premixed cocktail shots market recorded a valuation of US$ 3.708 Mn in 2022.
Increasing popularity of a wide variety of shots such as Kamikaze, Venom, and others among millennials is expected to drive the demand for premixed cocktail shots. With growing trend of house parties and increasing number of sorority houses in the U.S. universities, the preference for pre-made cocktail shots is surging. Hence, key companies are hopping on the trend and are introducing a wide variety of flavors to woo the Gen-Zs and millennials.
While the millennials and Gen-Zs are expected to enjoy the availability of a plethora of pre-made cocktail shots, baby boomers are also likely to take the plunge, opines FMI. For instance, leading player, LIQS, announced the launch of innovative wine-based cocktail shots. As wine is the most favored liquor among baby boomers, key players are introducing new flavors to increase their revenue.
Further, social media is another factor facilitating the demand for premixed cocktail shots. As content creator and foodies are experimenting with new recipes on Instagram and YouTube, consumers are likely to try the flavors and recipes. This is expected to create a conducive environment for the premixed cocktail shots market. Hence, key players are collaborating with online key players and social media celebrities to endorse their brands and expand their customer base.
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Key Takeaways from the Premixed Cocktail Shots Market
- North America is expected to account for nearly 35% of revenue share in the global premixed cocktail shots market.
- The U.S. premixed cocktail shots market is expected to witness impressive growth over the forecast period (2022-2032).
- Growing popularity of cocktail beverages among millennials in the U.S. is expected to propel the sales of premixed cocktail shots.
- Rising inclination for ready-to-drink beverages at cost-effective prices is anticipated to spur the demand for premixed cocktail shots.
“As millennials are using home-made recipes and inclining towards house parties instead of going out, the demand for ready-to-drink and ready-made beverages is growing. Hence, key players are striving to introduce new flavors with a unique blend of ingredients to provide bar-like quality cocktails and gain competitive edge.” – Says an FMI Analyst.
Competition Landscape in the Premixed Cocktail Shots Market
Key players are using various strategies such as product launches, partnerships, and research & development to mark their presence in the U.S. premixed cocktail shots market. Other tactics that are used by these companies are portfolio expansion, introduction of new flavors, and collaboration with e-commerce platforms such as e-Bay and Amazon to gain competitive edge.
Bacardi & Company Limited, Miami Cocktail Co., and Post Meridiem Spirits are the leading players in the U.S. premixed cocktail shots market.
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Recent Developments
- In May 2021, BACARDI real rum canned cocktails announced the expansion of its range of canned cocktails with three new flavors, including BACARDI Bahama Mama, Bacardi Mojito, and Sunset Punch. These 3 new flavors are set to join the exclusive summer line which already had Lime & Soda, Rum Punch, and Limon & Lemonade.
In May 2022, Post Meridian Spirit Co. announced the launch of its two new canned cocktails to match-up with the bar quality cocktails. The company is using local ingredient at the proper proportion and woo consumers. The two canned cocktails include, the London Dry Southside and the Modern Classic Cosmopolitan.
Key Segment of Premixed Cocktail Shots Market:
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
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Frequently Asked Questions
- What is the anticipated growth of the premixed cocktail shots market until 2032?
- Which country is forecast to be the most lucrative for premixed cocktail shots market growth?
- Which are some prominent premixed cocktail shots market manufacturers?
About Future Market Insights (FMI)
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