(Food-Beverage-News.Com, June 07, 2018 ) Cocktail Market was worth USD xx billion in 2016 and estimated to be growing at a CAGR of xx%, to reach USD xx billion by 2021. Cocktail is the mixture of two or more beverages, at least one among them containing alcohol. When a mixed drink includes only a mixer and a distilled spirit, such as fruit juice or soda, it is a highball. When a cocktail contains only a liqueur and a distilled spirit, it is a duo and when it adds a mixer, it is called trio. Additional ingredients utilized can be sugar, milk, cream, honey, and various herbs. The beverages which are used in the preparation of cocktail are usually among gin, vodka, whiskey, brandy, tequila, cachaça and rum. Cocktails vary in the ingredients present in them from one region to another. Two creations can also have the same name but taste can be very different because of differences in the preparation of drinks.
Growth in cocktail consumption due to rise in change in lifestyles and growing disposable incomes drive the growth of the market. Also, availability of botanical & vegetable cocktails is the key driver of the global cocktail market. Deep-rooted cocktail culture in some countries and higher cocktail consumption rate are expected to provide opportunity for growth to market players. However, since excessive drinking can cause heart and liver damage, depression and cancer development, the growth of this market is restrained.
The global Cocktail market is segmented based on type into short drink and long drink. Long drink segment is expected to have the largest share in the segment. On the basis of application, the market is divided into backyard BBQ, wedding ceremonies, cocktail party and other applications. By distributin channel the market is segmented into bars and restaurants, supermarkets and hypermarkets, convenience Stores and online retail.
The Global Cocktail market is divided based on geography into North America, Latin America, Asia-Pacific, Middle East and Africa and Europe. North America has the leading market for Cocktail in the world, which is followed by Europe and Asia Pacific regions. Asia Pacific region is expected to have the fastest growth rate during the forecast period.
Some of the major players in the market are Bols, Captain Morgan, kitchn, Siam Winery Co. Ltd., Cointreau, Belvedere, Rio Wine, Snake Oil Cocktail Company, Miami Cocktail Co., and Bombay Sapphire.
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