The global premixed cocktail shots market was worth US$ 3.71 Billion in the year 2022 and is expected to reach US$ 6.72 Billion by the year 2032 at a CAGR of 6.1% between 2022 and 2032.
Premixed cocktail shots, as the name suggests, are pre-made shots coming in durable plastic glasses with peel-away foil toppers. They are available in the pack of 15, 6, 4, or 2 with alcohol by volume (ABV) of over 20%. The concept did take off in 2013 with Twisted Shotz and LIQS manufacturing it. LIQS has actually developed 100% low-calorie, natural, and gluten-free flavors blended with wine or spirits whereas Twisted Shotz has emphasized on fun fruity flavors with catchy names.
With music festivals and events of similar type gaining traction, the market participants have their takers, as products could be promoted through collaborating with the social media influencers, celebrity endorsements, and also by acting as sponsors in the top-notch music festivals and high-profile events.
Future Market Insights has walked through these facets with future perspectives in its latest market study entitled ‘Premixed Cocktail Shots Market’. The team of analysts and consultants is there to execute with its 360-degree approach in primary, secondary, and tertiary modes of research.
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“With rapid urbanization coupled with party culture, the global premixed cocktail shots market is likely to witness splendor in the years to come”, says an analyst from Future Market Insights.
Key Takeaways from Premixed Cocktail Shots Market
- North America holds ~30% of the market share. This could be credited to an extensive demand from weddings, tailgating, beaches, boats, homes, BBQ’s, and parties. Premixed cocktail shots prove to be ideal solutions to long bar lines at higher volume venues like concerts, casinos, music festivals, hotel pool parties, nightclubs, and likewise.
- Europe accounts for more than 35% of the market share due to the millennials showing interest in sophisticated drinks. Along these lines, Anora (a leading wines and spirits brand based in Norway) has decided on forming a stronger unit for spirit brands in Denmark, known as ‘Anora Denmark A/S’. The unit would be comprising Det Danske Spiritus Kompagni A/S (DDSK) with former Altia spirits portfolio.
- The Asia-Pacific is expected to grow at a significant rate in the premixed cocktail shots market in the forecast period due to flourishing food & beverages vertical.
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Competitive Analysis
- Anora, in June 2021, completed acquisition of Globus Wine for strengthening the position as one of the leading wine and spirits group based out of Norway.
- Diageo, in April 2021, announced that it had completed the acquisition of Loyal 9 Cocktails from Sons of Liberty Spirits Company.
- Bacardi, in March 2022, raised the bar for cocktails-at-home by launching TAILS COCKTAILS. This novel spectrum comprising premium batched cocktails would be available for the consumers at home. The basic purpose was that of serving hospitality vertical, so as to make provisions for hassle-free solutions regarding delivery of premium quality cocktails consistently, quickly, and easily.
- Nanas comes across as a cocktail mixer brand based out of India, manufactured out of premium grade ingredients in an entirely automated and integrated manufacturing process.
- Bottoms Up Cocktails does produce refreshingly delicious and crisp premium RTD, premixed cocktails to suit those who embark upon busy lifestyles.
- Diageo plc, in March 2021, tabled a novel ‘Crown Royal Ready to Drink Cocktails’ for cocktail and whisky enthusiasts. It is inclusive of classics – signature Crown Royal serves having flavors – apple, cola, cranberry, and peach tea.
- Diageo plc, in August 2020, did launch a series of low-calorie, flavored, RTD cocktails under the brand ‘Ketel One’ in the US. The product has been formulated through vodka blended with natural fruits, botanicals, and sparkling water and constitutes 3 strong flavors inclusive of ‘Grapefruit & Rose’, ‘Cucumber & Mint’, and ‘Peach & Orange Blossom’.
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What does the Report premix?
- The research study is based on primary ingredient (malt-based premixed cocktail shots, wine-based premixed cocktail shots, spirit-based premixed cocktail shots, and others), by additive ingredient (alcoholic and non-alcoholic), and by sales channel (liquor store, hypermarket/supermarket, convenience store, online retail, HoReCa, and likewise).
- With an ever-increasing demand for instant gratification, the global premixed cocktail shots market is likely to grow on a grand note in the near future.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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