Published Date: 13-Oct-2021
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According to a new report Global Cocktail Syrups Market, published by KBV research, The Global Cocktail Syrups Market size is expected to reach $6.8 billion by 2027, rising at a market growth of 8.8% CAGR during the forecast period.
The sour flavored cocktail syrup is projected to display the fastest growth rate over the forecast period. There are many consumers who prefer conventional alcoholic drinks with a blend of modern flavors opt for sour flavored cocktail syrups. Such market trends are estimated to surge the demand for sour flavored cocktail syrups during the forecast period.
In 2020, the fruit segment acquired the maximum revenue share in the market and would maintain similar kind of trend even during the forecast period. Fruit-flavored cocktail syrups dominated the market owing to their extensive usage in cocktails. The shifting consumer preference towards the consumption of products with more fruit content and less sugar content is encouraging the manufacturers to launch new syrups combined with natural ingredients.
North America emerged as the leading region in the cocktail syrups market in 2020 by obtaining the highest revenue share. The growing numbers of youngsters are witnessing a change in taste & preference from conventional alcoholic drinks to flavored alcoholic drinks, which is estimated to accelerate the growth of the regional market. The rising popularity of a wide range of cocktails among the youngsters and millennials is creating lucrative opportunities for the key manufacturers of the market.
Full Report: https://www.kbvresearch.com/cocktail-syrups-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Kerry Group PLC, Archer Daniels Midland Company, Doehler Group SE, MONIN, Toschi Vignola s.r.l., Giffard, Bristol Syrup Company Ltd, and Liber & Co.
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