COCKTAIL SYRUPS MARKET ANALYSIS

Cocktail Syrups MarketSize and Trends

The global cocktail syrups market size was valued at US$ 4.50 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030. The growth of the cocktail culture is prime factor propelling cocktail syrups market. This is due to the availability of a wide variety of cocktails, such as mulled wine, mojito, and whiskey cocktail. Moreover, the popularity of low-alcohol and non-alcoholic drinks is another major driver propelling market growth. In recent times, consumers are focusing on healthy options and are preferring products that are natural and organic. This has led to the emergence of innovative products such as cocktail syrups with added health benefits, such as lavender and ginger.

Global Cocktail Syrups Market Trends:

Growing party culture among the millennial

The growing party culture among the millennial and young population across the globe is fueling the market growth. This is mainly due to the availability of a wide variety cocktails and the increasing number of people who are interested in making their own drinks. Moreover, increase in the bar and restaurant industry is further propelling market growth.

Rising popularity of fruit flavored syrups

Fruit-flavored cocktail syrups are a great addition to bar arsenal. Many of these cocktail syrups are made with natural ingredients and don’t contain any artificial flavors. Moreover, growing demand for product with high fruit content is encouraging manufacturer to launch syrups infused with natural ingredients.