Suntory sees revenue dip in alcoholic beverages segment amid mixed global market performance 

JAPAN – Japanese beverage giant Suntory Holdings has reported a 2.4% year-on-year decline in revenue, excluding liquor tax, for its alcoholic beverages segment in the first half of 2025.  

The division recorded sales of ¥491.6 billion (US$3.3 billion). Including liquor tax, the segment fell by 1.8% to ¥652.5 billion (US$4.42 billion). 

The results come six months after Suntory posted a 1% annual sales increase in 2024. While domestic sales of beer, wine, and spirits recorded growth, performance in Europe and the United States weighed on overall figures. 

In Japan, beer sales volumes matched last year’s levels. Notably, Suntory Draft Beer volumes surged by 24%, while Perfect Suntory Beer volumes rose by 19%.  

Wine revenue increased by 3% year-on-year, excluding liquor tax. Spirits sales saw mixed results, with gains in Japan, China, India, and travel retail helping to offset declines in the US and Europe. The company did not disclose specific figures for the decline in spirits. 

The group’s ready-to-drink (RTD) products remained a growth driver, particularly in the domestic market. Its sugar-free -196 range in Japan achieved double-digit sales growth.

Suntory has also been expanding its RTD portfolio in the US, launching new flavours for -196 and introducing canned products for its On The Rocks brand. 

“Overseas, we focused on attracting new customers in the United States, the largest RTD market, by expanding the distribution of -196 nationwide and launching new flavours, as well as introducing canned products for the On The Rocks brand,” said Masato Arishiro, managing executive officer of Suntory Holdings. 

In Australia, the company began shipping RTD products in July from its Swanbank beverage facility, a project developed through collaboration between its alcoholic beverages and soft drinks divisions. 

Earlier this year, Suntory established a dedicated “non-alcoholic department” in Japan to integrate its non-alcoholic beverage marketing.  

Additionally, in July, Suntory Global Spirits announced a multi-category partnership in Australia with Frucor Suntory under the Suntory Oceania umbrella. 

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