Overview and Scope
Cocktail syrups are a form of concentrated sugar syrup used to sweeten cocktails and mixed beverages. They’re usually created with sugar, water, and flavorings such as fruits, herbs, or spices. It is commonly used to flavor beverages instantly by diluting them with water.
Sizing and Forecast
The cocktail syrup market size has grown strongly in recent years. It will grow from $4.7 billion in 2023 to $5.03 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to growing interest in mixology, changing consumer preferences, rising cocktail culture, increased social media influence, health and wellness considerations.
The cocktail syrup market size is expected to see strong growth in the next few years. It will grow to $6.37 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to expanding market reach, sustainability and ethical sourcing, innovations in flavor profiles, customization and personalization, health-focused ingredients. Major trends in the forecast period include digitalization and e-commerce, flavor innovation, natural and organic ingredients, craft and artisanal syrups, global flavor influences.
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Segmentation & Regional Insights
The cocktail syrup market covered in this report is segmented –
1) By Product: Fruit, Herbs and Seasonings, Vanilla, Other Product
2) By Flavor: Sweet, Salty, Sour, Mint, Other Flavors
3) By Distribution Channel: B2C (Business-to-consumer), B2B (Business-to-business)
North America was the largest region in the cocktail syrup market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global cocktail syrup market report during the forecast period. The regions covered in the cocktail syrup market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Growing demand for cocktails is expected to propel the cocktail syrup market going forward. A cocktail refers to a typically chilled beverage made with wine or distilled spirits and flavoring components. Cocktail syrup is a sweetened liquid used to add flavor and sweetness to cocktails, which are typically made by dissolving sugar in water and then adding other ingredients such as fruits, herbs, or spices to infuse the syrup with flavor to create delicious and well-balanced cocktails. For instance, in October 2022, according to Nielsen Consumer LLC, a US-based consumer intelligence company, sales of spirits-based hard seltzers and cocktails increased by 58% as compared to the last year, whereas the off-premises sales of spirits ready-to-drink cocktails increased by 63.4% compared to the year 2021. Therefore, the growing demand for cocktails is driving the cocktail syrup market.
Key Industry Players
Major companies operating in the cocktail syrup market report are 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, Sonoma Syrup Co. LLC, Amoretti, D’arbo AG, BG Reynolds LLC, Royal Rose LLC, Morris Kitchen LLC, Jack Rudy Cocktail Co., Cocktail Crate, Collins Innovations Inc., The Hudson Standard LLC, American Juice Company, Powell & Mahoney Ltd., Fruitations LLC, The Real Dill LLC, The Twisted Shrub LLC, Wilks & Wilson LLC, Small Town Craft Spirits, The Cocktail Box Co., The Curious Bartender Co.
The cocktail syrup market report table of contents includes:
1. Executive Summary
2. Cocktail Syrup Market Characteristics
3. Cocktail Syrup Market Trends And Strategies
4. Cocktail Syrup Market – Macro Economic Scenario
5. Global Cocktail Syrup Market Size and Growth
….
31. Global Cocktail Syrup Market Competitive Benchmarking
32. Global Cocktail Syrup Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cocktail Syrup Market
34. Cocktail Syrup Market Future Outlook and Potential Analysis
35. Appendix
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