FILE PHOTO: Suntory's canned cocktail -196 Double Lemon is on sale at a store in Sydney, Australia September 2, 2022. REUTERS/Sam Holmes/File PhotoTOKYO : Japan's Suntory Holdings is betting on its spirits expertise to boost its share in the U.S. canned cocktails market, said a senior official from the drinks giant that aims to become the global leader in the sector by 2030.
Suntory is No. 2 in the global RTD segment, underpinned by its dominance in Japan, Euromonitor data shows. But it is behind global leader Mark Anthony Group, maker of White Claw alcoholic seltzers, partly because of a smaller share of the U.S. market where it is not even among the top five players. Suntory's Minus 196 with a 6 per cent alcohol content, made from vodka or other spirits, proved a winner upon its debut in Australia in 2021 and has since broken into the U.S., British and German markets. This is far less potent than the company's Strong Zero brand of fruity RTDs that have been big sellers in Japan for two decades and top out at an eye-watering 9 per cent alcohol.
"We understand and realize where consumer needs and trends are going. So the strength or that, if you will, hedonist impression is not what we stand for," Oh saidThe global RTD market saw double-digit sales growth during the pandemic as health concerns prompted a switch from higher calorie drinks like beer, but that slowed to just 2 per cent annual volume growth in 2023, according to industry watcher IWSR.