Cocktail Syrups Industry Overview
The global cocktail syrups market size to be valued at USD 5.99 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 4.7% during the forecast period. The growing party culture among the young generation and working-class population across the globe is a major factor contributing to the growth of the market. The COVID-19 pandemic has had an adverse impact on the market for cocktail syrups. The sudden and prolonged closure of non-essential businesses, such as pubs, bars, restaurants, and hotels, has been one of the major changes over the lockdown period. However, the household demand for the products soared during the lockdown. The growth of the at-home cocktail culture and convenience, quality, and diversity of cocktail syrups are the factors behind the upsurge in demand.
Innovation in cocktail syrups with an infusion of botanical and organic ingredients in vivid flavors is expected to provide new growth opportunities to the manufacturers in the coming years. Several companies have been using natural ingredients and reducing the use of artificial flavors and colors. The increasing number of health-conscious consumers is boosting the sales of syrups with natural ingredients, coloring agents, and additives.
Gather more insights about the market drivers, restraints and growth of the Global Cocktail Syrups Market
Over the past few years, young customers and the working-class population are increasingly adopting cocktail beverages as per their preferred flavors. Customers are loving the flavored alcoholic beverages with their specific choices. In addition to this, the demand for new alcoholic beverages with low ABV ranging from 4%-7% and a wide flavor range is increasing among the younger population.
Innovation in cocktails, including the use of real fruit juices with no artificial sweeteners, is also driving the market demand. Cocktails offer a wide range of choices to consumers, in terms of both, innovative products and healthier options such as cocktails infused with ginger or lavender that are beneficial for one’s health. As a result, bartenders are focusing on innovating new cocktails using healthy ingredients. This will create growth opportunities for cocktail syrup producers.
Browse through Grand View Research’s Consumer Goods Industry Related Reports
- Cocktail Mixers Market – The global cocktail mixers market size was valued at USD 8.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.7% from 2022 to 2030.
- Flavored Syrups Market – The global flavored syrups market size was valued at USD 46.3 billion in 2018 and is expected to expand at a CAGR of 5.1% from 2019 to 2025.
Cocktail Syrups Industry Segmentation
Grand View Research has segmented the global cocktail syrups market on the basis of product, flavor, and region:
Cocktail Syrup Product Outlook (Revenue, USD Million, 2016 – 2028)
- Fruit
- Herbs & Seasonings
- Vanilla
- Others
Cocktail Syrup Flavor Outlook (Revenue, USD Million, 2016 – 2028)
- Sweet
- Salty
- Sour
- Mint
Cocktail Syrups Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- MEA (Middle East & Africa)
Market Share Insights:
May 2022, Kerry Group announced the opening of its most advanced and largest taste manufacturing facility in Africa. This facility is equipped to produce nutrition solutions that are sustainable and are widely consumed across Africa.
Key Companies profiled:
Some prominent players in the global Cocktail Syrups Industry include
- Kerry Group PLC
- Liber & Co.
- MONIN
- The Simple Syrup Co.
- ADM WILD Europe GmbH & Co. KG
- Bristol Syrup Company
- Döhler
- Toschi Vignola s.r.l.
- Giffard
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