Suntory's Spirits Strategy: Boosting Canned Cocktail Market Share in the U.S.

Japan's Suntory Holdings aims to lead the global canned cocktails market by 2030, leveraging its expertise in spirits. The company plans to double its RTD revenue to $3 billion annually, focusing on the U.S. market despite current challenges. Key trends include lower alcohol and sugar content.

Japan's Suntory Holdings is leveraging its spirits expertise to capture a larger share of the U.S. canned cocktails market. A senior official from the company announced its ambitious goal to become the global leader in this sector by 2030.

Though best known for its whisky, Suntory sees significant growth potential in the ready-to-drink (RTD) segment. The company aims to double its annual RTD revenue to $3 billion. Currently the second-largest player in the global RTD market, Suntory lags behind Mark Anthony Group, largely due to its smaller U.S. market share.

Suntory is focusing on spirits-based canned RTDs, with its Minus 196 brand proving a hit in various markets. While the company acknowledges the trend towards lower alcohol and sugar beverages, it maintains its higher-alcohol Strong Zero brand in Japan. The U.S. presents unique challenges including local tastes, intense competition, and higher taxes for spirits-based RTDs.

(With inputs from agencies.)