Global Cocktail Syrups Market Size study, by Product (Fruit, Herbs and Seasonings, Vanilla and others), Flavor (Sweet, Salty, Sour and Mint) and Regional Forecasts 2021-2027
発行: Bizwit Research & Consulting LLP
List of figures
Global Cocktail Syrups Market is valued approximately USD 4.3 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2021-2027.
Cocktail Syrups is a condiment which is manufactured by stirring grainy sugar into hot water until the sugar is melted and then freezing the by-product. They final product is a viscous liquid which is used as a sweetening agent in the cocktails. The rise of pubs and bars across cities, young population engaging in party culture in metros and tier-1 cities, and new fusion of flavors like ginger-lemon, mint-cola etc. are some factors driving the sales of Cocktail Syrups. With health-conscious Gen Z population entering the legal alcohol drinking age, the companies are forced to bring innovation by reducing artificial coloring, sweeting agents and by using natural ingredients in syrups. According to WHO's Global Health Observatory, the total per capita alcohol consumption in India is expected to increase to 7.9 liters in 2025 from current 6.6% liters 2020. Similarly, the figure for United states is 10.3L from 10.1 L, 11.5L to 11.8L for UK and 8.1L from 7.5 for China in period 2020-2025. The increase in the alcohol consumption indicates the increase in demand for cocktail syrups. Cocktail Syrup companies can also utilize the situation by targeting new entrants in drinking and make them habitual of cocktails instead of hard alcohol and liquors. The perception of cocktail syrups among fitness enthusiasts being unhealthy due to artificial sweetening may act as a restraint, but increasing consumers from millennials and Gen-Z group demanding organic and herbal variants acts as an opportunity for Cocktail Syrups in next decade.
Key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World are analysed to provide a holistic picture of Cocktail Syrups Market. North America is the significant region across the world in terms of market share due to high share of population engaged in drinking, higher per capita income and well-established cocktail appetite among drinkers,. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate for the forecast period 2020-2027 owing to the growing inclination towards partying culture, growth of bars and pubs in tier-2 cities and rising disposable income.
Major market player included in this report are:
Kerry Group PLC
Liber & Co.
The Simple Syrup Co.
ADM WILD Europe GmbH & Co. KG
Bristol Syrup Company
Toschi Vignola s.r.l.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Herbs and Seasonings
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027
Target Audience of the Global Cocktail Syrups Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers