Cocktail Syrups Market Size, Share, Growth Analysis, By Flavor Outlook(Fruits, Herbs & Seasonings, Vanilla, Others), By Region - Industry Forecast 2024-2031

Cocktail Syrups Market size was valued at USD 4.59 Billion in 2022 and is poised to grow from USD 4.81 Billion in 2023 to USD 6.94 Billion by 2031, at a CAGR of 4.7% during the forecast period (2024-2031).

The existence of a significant number of regional and international competitors has led to a modest fragmentation of the market. As consumer taste buds and preferences change, manufacturing businesses are introducing new flavors of syrup. Consumers have been placing more and more emphasis on their health and fitness in recent years, and this tendency is seen when it comes to eating and drinking as well. As a result, beverage manufacturers have started offering far healthier substitutes for standard cocktail syrups. 'Torani', 'Monin Gourmet Flavorings', 'Sonoma Syrup Co.', 'Collins Brothers LLC', 'Small Hand Foods', 'Liber & Co.', 'Royal Rose Syrups', 'Fee Brothers', 'Finest Call', 'Stirrings', 'BG Reynolds', 'Tasty Hill', 'Funkin Cocktails Ltd.', 'Giffard', 'Fabbri 1905', '1883 Maison Routin', 'Rieme Boissons', 'Semplice Gourmet', 'Sweetbird', 'The Bitter Truth', 'In March 2023, A wide variety of syrups, crushes, fruit combinations, and frappe powders were exhibited by MONIN at AAHAR.', 'In March 2023, Spicy Agave by Monin was the company's first flavor of agave.', 'Jones Soda declared in December 2022 that it will be introducing four new Mary Jones syrups to the market. These syrups will include 100 mg of THC per serving from cannabis infusions. The new syrups will come in flavors such as orange & cream, root beer, berry lemonade, and green apple.'

Consumers are increasingly interested in exploring new and unique cocktail flavours, and cocktail syrups are an essential ingredient for creating premium cocktails with complex flavour profiles. the rising popularity of low-alcohol and non-alcoholic cocktails, due to the growth of online sales channels. With the rise of home bartending and cocktail-making, there has been a surge in demand for cocktail syrups as consumers look to create professional-quality cocktails at home.

The growing demand for natural and organic ingredients is a significant trend in the cocktail syrups market. Consumers are becoming more health-conscious and are seeking out products made with natural and organic ingredients that are free from artificial colors, flavors, and preservatives. Many consumers are focused on maintaining a healthy lifestyle, and are looking for products that support their goals.

North America dominated the market. The need for cocktail syrups in the region is only going to increase as more and more young customers switch from traditional alcoholic drinks to flavoured alcoholic beverages. The bar and nightclub sector in America has been experiencing a respectable 2.1% year-over-year growth rate, according to data from the American Nightlife Association.