Home Cocktail Market Overview
Global Home Cocktail Market reached USD million in 2023 and is expected to reach USD million by 2031 growing with a High CAGR of during the forecast period 2024-2031. Consumers have been enthralled by the emergence of cocktail culture and mixology, which has increased their curiosities and sense of adventure, which in turn, is driving the growth of home cocktails market.
A number of variables, including altered consumer preferences and habits, have contributed to the significant expansion and popularity of the worldwide home cocktail business in recent years. Customers who like making their own alcoholic and non-alcoholic beverages at home are catered to by the market, which gives them the materials, equipment, and inspiration to make distinctive cocktails.
Consumer lives have changed quickly, and people are putting more emphasis on having experiences at home. In order to replicate the atmosphere of bars and restaurants in the comfort of their homes, many people are choosing to make cocktails.
Home Cocktail Market Scope
| Metrics | Details |
| CAGR | High |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Type, Product, Distribution Channel, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | North America |
| Largest Region | Europe |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Home Cocktail Market Dynamics
The Primary Driver of Market Expansion is the Consumer’s Rising Interest in Mixology.
The rising need for quick and simple-to-make cocktails is one of the main factors driving the home cocktail business. Consumers can enjoy their preferred cocktails at home with home cocktail kits, cocktail mixers, and ready-to-drink (RTD) drinks without the need for sophisticated bartending techniques or lengthy recipes. Products that make creating cocktails easier are becoming more and more popular as consumers seek convenience in their hectic lifestyles.
The popularity of socializing and entertaining at home has grown, particularly during periods when social interaction is constrained (such as during the COVID-19 epidemic). Customers are looking for items and tools that will enable them to mix elegant drinks for themselves and friends as well as techniques to replicate the bar experience at home.
Rising Interest in Customization and Consumers’ Health Consciousness is Driving the Market Growth.
The market for home cocktails has been impacted by the emphasis on health and wellness. Low-alcohol or non-alcoholic cocktails are in higher demand as customers become more health-conscious. Due to this, non-alcoholic spirits and mixers have been created, allowing people to enjoy upscale mocktails without the negative consequences of alcohol.
The quest for personalized experiences among consumers is reflected in the market for home cocktails. Customers who want to create cocktails that match their own tastes and preferences can use home cocktail kits and mixers that let them customize the flavors and components. This trend is driving the home cocktails market growth during the forecast period 2023-2030.
Regulatory and Legal Constraints are Restraining the Home Cocktail Market Growth.
The confusing and inconsistent regulatory environment that surrounds the sale and distribution of alcoholic beverages is a major restraint on the market for home cocktails. Manufacturers and distributors of products for home cocktails may have difficulties as a result of these regulations because they must adhere to a wide range of legal requirements, such as age restrictions, labelling specifications, taxation requirements, and distribution limitations.
Home Cocktail Market Segment Analysis
The global home cocktail market is segmented based on type, product, distribution channel, and region.
In the Global Market of Home Cocktail, the Liquor Segment Holds the Largest Market Share.
The global home cocktail market has been segmented by category into liquors, cocktail mixers, and accessories. The liquor segment held the largest home cocktail market share of 58.8% in 2022 in the home cocktail market analysis report. Liquor is frequently connected to social events, holidays, and special occasions. As people gather to socialize and enjoy drinks, occasions like weddings, parties, holidays, and festivals often witness a rise in alcohol consumption.
Global Home Cocktail Market Geographical Penetration
The North America Region Held the Largest Share in Home Cocktail Market.
The global home cocktail market is segmented into five parts of the world based on geography: North America, South America, Europe, Asia Pacific, the Middle East, and Africa. The North American home cocktail market held the largest market share of 35.6% in 2022 in the Home Cocktail market analysis.
Cocktail consumption has grown as a result of the epidemic, especially at home. As of September 2020, customers in the US, for instance, reported making cocktails more frequently than they did before to COVID-19. Less than 2 in 5 US customers who buy spirits claim that creating cocktails at home takes too much work. This further supports the notion that consumers do not find the process intimidating.
Home Cocktail Major Key Players
The major global players in the market include Diageo plc, Brown-Forman, Bacardi Limited, Asahi Group Holdings, Ltd., PernodRicard, Halewood Wines & Spirits, SHANGHAI BACCHUS LIQUOR CO., LTD., Suntory Holdings Limited, Manchester Drinks Company Ltd., and Anheuser-Busch InBev.
COVID-19 Impact on Home Cocktail Market
Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
Covid-19 Impact:
Market conditions have improved as a result of the COVID-19 epidemic. The section took off once the COVID-19 pandemic hit the planet, despite the fact that demand for them was already soaring. The rise in demand is attributed to several factors, including the expansion of the culture of making cocktails at home, rising health and convenience concerns, and improved quality and variety of home cocktails.
In an effort to prevent contracting the virus, the pandemic has led to many consumers changing their purchasing behaviors and switching to internet shopping. Additionally, brick-and-mortar merchants are turning to online ordering and delivery services like Drizly in order to expand their customer base as they begin to recognize the value of creating an e-commerce strategy.
By Type
- Wine Based
- Spirit Based
- Malt Based
- Others
By Product
- Liquors
- Chocolate
- Crème
- Coffee
- Herbal
- Floral
- Nutty
- Citrus
- Fruity
- Cannabis Infused
- Kosher Liqueurs
- Cocktail Mixers
- Tonic Water
- Club Soda
- Ginger Beer
- Flavored Cocktail Mixer
- Others
- Accessories
- Bar Tools
- Glass
- Mixers and Shakers
- Muddlers
- Bottle Openers
- Corkscrew
- Ice Bucket
- Jigger
- Bar Tool Kits
- Others
- Freezers/Ice Maker
- Others
- Bar Tools
By Distribution Channel
- Liquor Stores
- Supermarkets/Hypermarkets
- Online Stores
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- In April 2023, Fever-Tree, the top premium brand in the world for simple mixed drinks, introduces a new line of cocktail mixers that have been skillfully designed to enrich the Bloody Mary and the Margarita*, the two most common cocktail occasions in America. With the introduction of Fever-Tree Classic Bloody Mary and Fever-Tree Classic & Light Margarita, the brand is now expanding beyond carbonated goods as part of its innovative strategy to reclaim quality, flavor, and choice in the mixer aisle.
- In September 2022, for the Indian market, BACARD India released MIX'R, the company's first-ever line of high-end non-alcoholic mixers. The new product line was introduced in response to changing consumer preferences, who are now more oriented towards convenient drinking options, have a higher desire for better, more opulent spirits, and are motivated to seek out premium cocktails.
Why Purchase the Report?
- To visualize the global home cocktail market segmentation based on type, product, distribution channel, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of Home Cocktail market-level with all segments.
- The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The global Home Cocktail market report would provide approximately 59 tables, 63 figures and 160 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
