The Europe cocktail market is expected to register a CAGR of 11.42% from 2024 to 2029 and be worth USD 0.63 billion by 2029 from USD 0.36 billion in 2024.
Cocktails are alcoholic drinks made with gin, brandy, vodka, whiskey, tequila, rum, and other ingredients such as fruit juice, cream, honey, milk, sugar, herbs, or other flavorings. Because the product might be considered as a type of alcohol use, the cocktail sector has witnessed a steady increase in popularity among consumers in recent years. Cocktails have increased because of the rising consumption of alcoholic beverages. Since then, the cocktail sector has seen numerous advancements and product types to fulfil consumer demands.
People's lifestyles are improving, and per capita earnings in developing countries are rising, which is driving up demand for cocktails. The demand for cocktails is also enhanced throughout the holiday season, which contributes to the market's growth. Although the cocktail market has grown dramatically over the last decade, it has grown at a glacial pace over the last five years. In addition, the advent of new goods such as frozen drinks and canned cocktails has made it easier for individuals to enjoy them at home and make them more affordable and accessible to people.
Factors such as rising per capita income in emerging nations and the widespread availability of botanical and vegetable cocktails are contributing to the enormous growth of the Europe cocktail market. Cocktails are mixed cocktails involving combining two beverages, one of which is alcoholic. In addition, the weather and seasonal holidays of consumers, such as those who enjoy picnics and gatherings, drive the cocktail business. Although the cocktail market in Europe has grown significantly over the last decade, it has grown immensely over the past few years. The key driving factor behind the drink is its pleasurable and convenient use, which may be done without the need to mix the ingredients.
This device also has the advantage of being able to be used while traveling. In hot places like the dry tropics, the cocktail market has room to grow, and sales can be boosted by expanding distribution networks. People over the age of 40 are less interested in this product, and the younger generation is a big contributor to the cocktail market's growth in Europe. The European cocktail market is predicted to rise due to rising alcohol use and customers' willingness to explore new products. The cocktail culture began in North America, and it spread quickly to Europe and the Asia Pacific region. The cocktail industry is fueled by the current economic climate as well as seasonal getaways such as picnics and celebrations. This device also has the advantage of being able to be used while traveling. The cocktail's fundamental driving force is its pleasurable and convenient use. Therefore you can use the cocktail ingredients without combining them.
In locations with high temperatures, such as dry and tropical climates, the Europe cocktail market has room to grow, and new distribution channels can be developed to boost sales. Alcohol consumption is rising across various regions in Europe, and consumers' willingness to try new products is projected to propel the European cocktail market's rise.
Despite the rising popularity of cocktails, alcohol has been demonstrated to be damaging to one's health, causing depression, alcoholism, and liver disorders, among other things. People are becoming more self-aware of their health as their lives improve, and many are giving up alcohol. Cocktails also include a lot of sugar, making them unappealing to health-conscious people. Furthermore, the demand for cocktails is typically limited to the young, with consumers over forty showing relatively little interest. As a result, while the market is expanding, the expansion rate has remained relatively constant over time.
Impact of COVID-19 on the European Cocktail Market:
Due to travel limitations, store closures, and permanent small company closures, the COVID-19 epidemic has impacted practically every market globally. Cocktail demand was driven mainly by the catering and bar industries, primarily comprised of small firms. Unfortunately, many small enterprises have closed their doors due to the application of foreclosures in various nations. Furthermore, individuals in many countries have become more aware of their nutritional intake and have chosen a healthy lifestyle over the adverse effects of alcohol and excessive sugar levels. This has resulted in a reduction in the consumption of alcoholic beverages, particularly in the Asia Pacific. Because supermarkets and convenience stores are also significant contributors to the cocktail business, this element significantly impacts demand.
This research report on the Europe cocktail market has been segmented and sub-segmented based on the following categories.
Europe Cocktail Market - By Type:
Based on type, long drink type dominates the Europe cocktail market during the forecast period. A long drink, sometimes known as a tall drink, is an alcoholic mixed drink with a considerable volume (greater than 12 cl, more commonly 16–40 cl or 5–9 fluid ounces). In contrast to a long drink, which contains a large glass full of the mixer, a short drink or shooter, has less mixer, or none at all. Because both sorts of drinks contain the same quantity of alcohol, short drinks are usually stronger. As a result, long drinks are usually more dilute than short drinks. A Tom Collins is a traditional long drink. The highball, a cocktail made with one liquor and one mixer, is a simple kind of long drink. The gin and tonic is a typical example of a highball.
Europe Cocktail Market - By Application:
Based on application, cocktail party is anticipated to have the largest Europe cocktail market share in the upcoming years. A cocktail party is a semi-formal social gathering that usually includes mixed beverages, light refreshments, and a small number of guests. The host or a trained bartender encourages guests to mingle while enjoying a selection of drinks. The primary purpose of a cocktail party is to serve the people with food and drinks. Therefore, the cocktail party further increases the growth of the Europe cocktail market.
Europe Cocktail Market - By End User:
Based on End Users, bars and restaurants are predicted to propel the cocktail market forward since these are widely responsible for preparing and serving cocktails. Moreover, most of the gathering including formal and informal tends to be done in the bars and restaurants. Therefore, the bars and restaurants segment further contribute to the cocktail market growth in the next six years.
Europe Cocktail Market - By Country:
Europe tends to hold a significant share of the global cocktail market during the forecast period since people's lifestyles are improving, and per capita earnings in developing countries are rising, which is driving up demand for cocktails. The demand for cocktails is also enhanced throughout the holiday season, which contributes to the market's growth in Europe. Moreover, increasing picnics and gatherings mainly in Germany and U.K. further responsible for the cocktail market growth in Europe in the next six years.
KEY MARKET PARTICIPANTS:
Companies playing a major role in the European cocktail market include Captain Morgan, Bols, Snobar Cocktails, Cointreau, Kold Cocktails, Manchester Drinks Co. Ltd., Bodega Co. de Siam Ltd, Rio Wine and Cocktail Natives.
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