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 consumption of cocktail drinks among millennials is one of the key trends shaping the premixed cocktail shots market in Japan. Cocktails are fast replacing beer as the drink of choice among Gen-Zs and millennials. In addition, cocktail parties that offer a variety of beverages including wines and spirits are becoming increasingly popular in Japan. As a result, demand for premixed shots at these events is expected to surge over the forecast period.
Hence, key players are introducing a number of new products most notably, vodka-based drinks such as Vodka Red Bull and Vodka Orange to gain revenue and cater to the growing demand in the country. Preference for drinks containing bourbon, tequila, and other types of liquor are also contributing to growth in the premixed cocktail shots market.
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Traditional Japanese sake rice wine may be losing ground to Western-style alcoholic beverages, but it still remains one of the most popular options. Sales of sake are likely to maintain steady growth due to its wide availability and low price point relative to other distilled beverages. Despite growing popularity, sales of pre-mixed cocktails made with malt whiskey, gin, brandy or scotch declined in recent years.
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.
“Growing trend for cocktails in cocktails parties among millennials will boost the demand of Japan premixed cocktail shots market. Hence, key players are introducing numerous flavors and unique blend of ingredients to cater to the rising demand for a variety of liquor.” – Nandini Roy Choudhury, Client Partner at Future Market Insights
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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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