Suntory Holdings is banking on its spirits expertise to grow its share of the U.S. canned cocktail market, according to a senior executive at the beverage giant, which aims to be the global leader in the sector by 2030.
While Suntory is best known among overseas consumers for its whiskey, a key growth market is the canned cocktail, or ready-to-drink, segment. The company believes its annual RTD revenues could double from current levels to around $3 billion (¥434 billion) by 2030.
Suntory is No. 2 in the global RTD segment, buoyed by its dominance in Japan, according to Euromonitor data. But it trails global leader Mark Anthony Group, maker of White Claw alcoholic seltzers, in part because of a smaller share of the U.S. market, where it isn’t even among the top five players.
