Global Cocktail Mixers Market - 2023-20230

Global Cocktail Mixers Market - 2023-20230

The Global Cocktail Mixers Market reached US$ 9.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 17.0 billion by 2030. The market is growing at a CAGR of 8.2% during the forecast period 2023-2030. The growing popularity of craft and artisanal cocktails has driven the demand for high-quality cocktail mixers.

The cocktail mixer market is witnessing increased innovation in flavor profiles. Manufacturers are experimenting with unique and exotic flavor combinations to offer consumers an exciting range of options. Flavors like elderflower, hibiscus, jalapeno, and ginger are becoming popular, providing consumers with more diverse and adventurous choices regarding their cocktail mixers. Consumers are willing to pay a premium for high-quality, handcrafted mixers made with natural ingredients and unique flavor profiles.

The market for premium and artisanal cocktail mixers, including ready-to-use mixers and syrups/concentrates, has been growing steadily. Convenience is a key consumer consideration, and the cocktail mixer market is evolving to meet this demand. Ready-to-use mixers that require minimal effort to prepare a cocktail are gaining popularity. Pre-bottled cocktail mixers, cocktail mix sachets, and single-serve mixers provide ease of use, especially for home entertaining or on-the-go consumption.

Market Dynamics

The Increasing Number of Parties Among Millennials is Driving the Market Growth of the Cocktail Mixers Market

According to Statista, millennials were the largest generation group in the U.S. in 2022, with an estimated population of 72.24 million. Millennials are known for their active social lives and love for hosting parties and gatherings. They enjoy entertaining friends and creating memorable experiences. As a result, there is a higher demand for cocktail mixers to create a variety of cocktails easily and impressively.

By using cocktail mixers, millennials can achieve professional-quality cocktails without the need for extensive knowledge or investment in a wide range of ingredients, making it cost-effective. Millennials are known for their adventurous and experimental approach to food and beverages. They seek unique and diverse flavor experiences. Cocktail mixers offer a wide range of flavors, including exotic fruit blends, botanical infusions, and innovative combinations, allowing millennials to explore and experiment with different taste profiles at their parties.

Expansion of the Craft Cocktail Movement is Driving the Market Growth of the Cocktail Mixers Market

The craft cocktail movement emphasizes the use of high-quality, premium ingredients in cocktail preparation. This focus on quality has increased the demand for cocktail mixers made with authentic and top-notch ingredients. Consumers and bartenders are seeking mixers that can replicate the flavors and quality of craft cocktails made from scratch.

Craft cocktails are known for their complex flavor profiles(e.g. citrus, berry, tropical) and innovative combinations. As the craft cocktail movement gains popularity, consumers seek cocktail mixers that can replicate these unique flavor experiences. Manufacturers are responding by introducing mixers with diverse and innovative flavor profiles, such as artisanal fruit blends, botanical infusions, and unique spice combinations.

Rising Demand for Non-Alcoholic Beverages is Restraining the Cocktail Mixers Market

There is a growing trend of consumers opting for non-alcoholic beverages, driven by factors such as health consciousness, designated driving, and lifestyle choices. For instance, Sales of non-alcoholic and low-alcohol beverages increased by more than 7% in volume and exceeded $11 billion in 2022 across 10 important international countries.

According to IWSR Drinks Market Analysis, this is an increase from the $8 billion displayed in 2018. As more individuals choose to reduce or eliminate alcohol consumption, the demand for cocktail mixers specifically designed for alcoholic cocktails may be impacted.

Consumer preferences are evolving, and there is a growing interest in exploring diverse beverage options beyond traditional alcoholic cocktails. This includes the consumption of premium and artisanal non-alcoholic beverages, which may lead to reduced demand for traditional cocktail mixers.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Russia-Ukraine war Impact

The Russia-Ukraine war led to disruptions in trade and transportation routes between Russia and Ukraine, it affected the supply chain of cocktail mixers. Both countries play a significant role in producing and distributing various ingredients and products used in the cocktail mixers industry. Supply chain disruptions, such as restrictions on imports/exports or delays in logistics, lead to shortages or increased prices of certain ingredients or finished mixers.

Segment Analysis

The Global Cocktail Mixers Market is segmented based on product type, distribution channel, and region.

Increasing Gin and Tonic Popularity

In 2022 , tonic water held the highest share of the cocktail mixers market based on product type. Tonic water is commonly used as a mixer in various classic and contemporary cocktails, most notably in the famous Gin and Tonic cocktail. For instance, Statista reports that in Spain, the greatest tonic water expenditure was $1.42 per person in 2021—an increase of 20 cents from 2018. The Gin and Tonic cocktail has been a long-standing favorite among consumers, and tonic water is an essential ingredient for this drink.

The global gin market has experienced significant growth in recent years, driven by increasing consumer interest in craft spirits and the rise of gin-based cocktails. For instance, According to the Distilled Spirits Council, in the US the sales volume of gin amounted to about 10 million 9-liter cases in 2022. As gin becomes more popular, the demand for tonic water as its essential mixer also increases.

Geographical Analysis

Increasing Cultural and Social Factors in Asia-Pacific Region

In 2022, the Asia Pacific region had a significant share in the cocktail mixers market. The Asia-Pacific region has experienced rapid urbanization and an increase in disposable income levels, leading to changing lifestyles and preferences. As people in this region adopt more cosmopolitan lifestyles, there is an increased demand for premium and innovative alcoholic beverages and drink mixers to enhance their social experiences. For instance, according to Statista, alcohol consumption in India amounted to about five billion liters in 2020.

The cocktail culture has been gaining popularity in Asia, with a growing interest in mixology and bartending skills. Consumers are becoming more knowledgeable about cocktails, experimenting with different flavors, and seeking quality drink mixers to create their favorite drinks at home or in bars. This trend has driven the market's demand for a wide range of cocktail mixers.

Competitive Landscape

The major global players include Keurig Dr. Pepper, Inc., Fevertree Limited, The London Essence Company, Three Cents Co., Fentimans Ltd., Thomas Henry GmbH, East Imperial, Britvic plc, Bartisans, Q MIXERS

Why Purchase the Report?
• To visualize the Global Cocktail Mixer Market segmentation based on product type, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous cocktail mixers market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Cocktail Mixers Market Report Would Provide Approximately 53 Tables, 47 Figures and 102 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies