According to a new report, published by KBV research, The Global Cocktail Mixers Market size is expected to reach $18.9 billion by 2031, rising at a market growth of 7.8% CAGR during the forecast period.
The On-trade segment is registering a CAGR of 7.4% during (2024 - 2031). The on-trade segment offers consumers a unique and immersive experience, allowing them to enjoy cocktails prepared by professional bartenders in a social setting. The establishment's ambiance and atmosphere frequently contribute to the enhancement of this experience, which renders it a favored option for social gatherings and noteworthy events. On-trade establishments often focus on offering high-quality and premium products, including cocktail mixers.
The Tonic Water segment is leading the Global Cocktail Mixers Market by Product in 2023; thereby, achieving a market value of $7.6 billion by 2031. Demand for tonic water has increased significantly in recent years due to a number of significant factors. An important factor propelling the market is the rising demand for gin & tonic (G&T) cocktails. The surge in craft distilleries and the emergence of novel and inventive gin flavors have contributed to the gin craze, which has consequently caused a corresponding surge in tonic water consumption. Tonic water is an essential component of a traditional G&T, and its demand has increased in tandem with the rising interest in craft cocktails.
The Cans segment is experiencing a CAGR of 7.6% during (2024 - 2031). Cans are convenient for consumers, as they are portable and easy to open. They are single-use and do not require resealing, which can be beneficial for on-the-go consumption. Moreover, cans are often associated with convenience and a casual drinking experience. They can convey a different brand image compared to PET packaging, depending on the target market.
Full Report: https://www.kbvresearch.com/cocktail-mixers-market/
The Europe region dominated the Global Cocktail Mixers Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $6.6 billion by 2031. The North America region is anticipating a CAGR of 7.5% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 8.4% during (2024 - 2031).
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