What are the growth opportunities and trend analysis of Cocktail Syrups Market?

Cocktail Syrups Industry Overview

The global Cocktail Syrups Market size is expected to reach USD 5.99 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.7% from 2021 to 2028. The growing preference for cocktails among millennials is expected to be a key factor contributing to the growth of the market.

Cocktail syrups eliminate the need to shop for a wide variety of ingredients and save the effort to mix them. Overall, cocktail syrups have made cocktail preparation a less time- and energy-intensive task, which encourages amateurs to try these drinks at home. Cocktail syrups offer consumers the comfort of drinking their favorite beverages at home.

Over the past few years, premium cocktail syrups made with natural ingredients are gaining traction among consumers. Cocktail consumers are shifting from brands with poor ingredient quality and high sugar content to premium brands. Though traditional syrups continue to dominate shelf space at retail stores, premium products are driving the market as consumers are willing to invest in high-quality and authentic cocktail syrups to pair with premium spirits.

Cocktail Syrups Market Segmentation

Grand View Research has segmented the global cocktail syrups market on the basis of product, flavor, and region:

Based on the Product Insights, the market is segmented into Fruit, Herbs & Seasonings, Vanilla and Others.

  • The fruit segment held the largest share of over 68.0% in 2020 and is expected to maintain its lead over the forecast period. Fruit-flavored syrups have been dominating the market due to their widespread application in cocktails. 
  • The herbs and seasonings segment is projected to register the fastest CAGR of 5.3% from 2021 to 2028. Over the past few years, herb- and seasoning-infused cocktail syrups are gaining traction among consumers. Herbs blend well with spirits like vodka, whiskey, and tequila. 

Based on the Flavor Insights, the market is segmented into Sweet, Salty, Sour and Mint.

  • Sweet flavored cocktail syrup held the largest share of more than 58.0% in 2020. Fruity and sweet cocktail syrups are quite popular among consumers in the U.S. as they perfectly balance the sourness or bitterness of hard spirits, like rum and whiskey.
  • The sour flavored cocktail syrup is expected to register the fastest CAGR of 5.2% from 2021 to 2028. Customers with a traditional preference for alcoholic drinks with a punch of modern flavors prefer sour flavored cocktail syrups. 

Cocktail Syrups Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central and South America
  • Middle East & Africa (MEA)

Key Companies Profile

The market is slightly fragmented owing to the presence of a large number of regional and international players. The manufacturing companies are launching new flavored syrups as per the evolving tastebuds and changing preferences of consumers. In recent years, a growing number of consumers have been focusing on their health and wellness, above anything else, and this trend holds true when it comes to the consumption of food and beverages too. As a result, beverage companies have been introducing much healthier alternatives to traditional cocktail syrups.

Some prominent players in the global Cocktail Syrups market 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

Order a free sample PDF of the Cocktail Syrups Market Intelligence Study, published by Grand View Research.

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