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Japanese drinks companies eye the non-alcoholic category
In Japan, the trend for non-alcoholic drinks is taking off in a bid to attract Gen Z, which is drinking less than other precding generations.
Just 7.8% of Japanese people in their 20s were regular drinkers in 2019 compared with 20.3% of that age group in 1999, according to government survey data gathered by Reuters.
Additionally, in July, Japan’s tax office launched a contest seeking ideas on how to stimulate demand among younger people after reportedly noting a steady decline in revenue from alcohol sales.
As such, Japan’s major drinks makers are starting to also look outside the country for growth. For instance, Asahi Group Holdings recently reported that it saw North America as a key market, while Suntory Holdings Group is alleged to be looking at expanding its canned cocktail business there too.
Globally, the popularity of low- and non-alcoholic drinks has risen steadily but has more recently been accelerated by the pandemic, which led directly to many people to be more conscientious about their health and wellbeing. According to the IWSR, the market value for the segment worldwide has already risen to just under US$10 billion in 2021, up from US$7.8 billion in 2018.