Global Cocktail Syrup Market
Food And Beverages

Global Cocktail Syrup Market Report 2024: Size, Drivers, And Top Segments

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The cocktail syrup market has experienced significant growth in recent years, fueled by changing consumer preferences and a burgeoning interest in mixology. This blog explores the current market size, future projections, and key trends that are shaping the industry.

Current Market Size and Growth

Recent Growth:

  • The market grew from $4.7 billion in 2023 to $5.03 billion in 2024.
  • This represents a compound annual growth rate (CAGR) of 7.0%.

Key Growth Drivers:

  • Rising interest in mixology and home bartending.
  • Changing consumer preferences towards unique and diverse flavors.
  • Growing cocktail culture, particularly among younger demographics.
  • Increased influence of social media on cocktail trends.
  • Health and wellness considerations leading to demand for natural ingredients.

Future Market Projections

Expected Growth:

  • The market is projected to reach $6.37 billion by 2028.
  • Expected CAGR of 6.1%.

Key Drivers for Future Growth:

  • Expanding market reach through global distribution.
  • Emphasis on sustainability and ethical sourcing.
  • Innovations in flavor profiles to cater to diverse tastes.
  • Increased customization and personalization of cocktail recipes.
  • Health-focused ingredients becoming more prevalent.

Major Trends:

  • Digitalization and e-commerce facilitating direct consumer access.
  • Flavor innovation with exotic and regional ingredients.
  • Demand for natural and organic cocktail syrups.
  • Growth of craft and artisanal syrups.
  • Influence of global flavors on cocktail culture.

View More On The Cocktail Syrup Market Report 2024 –

Increasing Demand for Cocktails

Cocktail Popularity:

  • Growing demand for cocktails is driving the expansion of the cocktail syrup market.
  • Cocktail syrup adds flavor and sweetness, essential for balanced cocktails.
  • Popular ingredients include fruits, herbs, spices, and more.

Market Insight:

  • According to Nielsen Consumer LLC, sales of spirits-based hard seltzers and cocktails increased by 58% in October 2022.
  • Off-premises sales of spirits ready-to-drink cocktails increased by 63.4% compared to 2021.
  • This rising demand is propelling the cocktail syrup market forward.

Key Industry Players

Major Companies:

  • Kerry Group plc
  • Liber & Co.
  • Monin Groupe
  • Bristol Syrup Company
  • Döhler Group
  • Toschi Vignola S.r.l.
  • Giffard
  • Pratt Standard Cocktail Company
  • Blossoms Syrup Ltd
  • American Beverage Marketers
  • Portland Soda Works LLC
  • Monarch Beverages

Product Innovations Driving Market Growth

Innovation Trend:

  • Companies are focusing on developing new products to maintain their market position.
  • Example: In April 2021, Nickel Dime cocktail syrups launched four flavored syrups with natural ingredients.
    • Varieties include Caged Heat, Fairy Dust, Cherry Bomb, and Crimson Smoke.
    • Ingredients feature tamarind, cardamom, ghost pepper, cherry, and cacao.
    • These syrups are alcohol-free, gluten-free, and contain around 100 calories per two-ounce serving.

Strategic Acquisitions

Expanding Portfolios:

  • In August 2021, Absinthia’s Bottled Spirits acquired Nickel Dime Syrups.
  • This acquisition aims to strengthen the product portfolio with natural ingredient-based cocktail syrups.
  • Such strategic moves are enhancing market positions and expanding product offerings.

Market Segmentation

By Product:

  • Fruit
  • Herbs and Seasonings
  • Vanilla
  • Other Products

By Flavor:

  • Sweet
  • Salty
  • Sour
  • Mint
  • Other Flavors

By Distribution Channel:

  • B2C (Business-to-consumer)
  • B2B (Business-to-business)

Regional Insights:

  • North America was the largest region in the cocktail syrup market in 2023.
  • Asia-Pacific is expected to be the fastest-growing region during the forecast period.

The cocktail syrup market is on a strong growth trajectory, driven by increasing consumer demand for unique flavors, natural ingredients, and innovative products. With significant innovations and strategic acquisitions, the market is poised for continued expansion. Companies in this sector are well-positioned to capitalize on emerging trends and maintain their competitive edge in the global market.

Request A Sample Of The Global Cocktail Syrup Market Report 2024:

The Cocktail Syrup Global Market Report 2024  provides comprehensive insights on the cocktail syrup market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the cocktail syrup market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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