Asia Pacific Cocktail Market was worth USD xx billion in 2022 and estimated to be growing at a CAGR of xx%, to reach USD xx billion by 2028.
Cocktail is the mixture of two or more beverages, at least one among them containing alcohol. When a mixed drink includes only a mixer and a distilled spirit, such as fruit juice or soda, it is a highball. When a cocktail contains only a liqueur and a distilled spirit, it is a duo and when it adds a mixer, it is called trio. Additional ingredients utilized can be sugar, milk, cream, honey, and various herbs. The beverages which are used in the preparation of cocktail are usually among gin, vodka, whiskey, brandy, tequila, cachaça and rum. Cocktails vary in the ingredients present in them from one region to another. Two creations can also have the same name but taste can be very different because of differences in the preparation of drinks.
Drivers and Restraints:
Growth in cocktail consumption due to rise in change in lifestyles and growing disposable incomes drive the growth of the market. Also, availability of botanical & vegetable cocktails is the key driver of the Asia Pacific cocktail market. Deep-rooted cocktail culture in some countries and higher cocktail consumption rate are expected to provide opportunity for growth to market players. However, since excessive drinking can cause heart and liver damage, depression and cancer development, the growth of this market is restrained.
Asia Pacific Cocktail Market Segmentation Analysis:
The Asia Pacific Cocktail market is segmented based on type into short drink and long drink. Long drink segment is expected to have the largest share in the segment. On the basis of application, the market is divided into backyard BBQ, wedding ceremonies, cocktail party and other applications. By distributin channel the market is segmented into bars and restaurants, supermarkets and hypermarkets, convenience Stores and online retail.
The Asia Pacific Cocktail market is divided based on geography into India, China, Japan, Australia and other parts of the region. Asia Pacific has the third largest market for cocktail in the world by share. Asia Pacific region is the fastest growing region for cocktail in the world. Factors such as rising consumption of alcohol and growing disposable incomes is expected to drive the market growth in the region.
Key Players in the Market:
Major Key Players in the Asia Pacific Cocktail Market are
Some of the major players in the market are Bols, Captain Morgan, kitchn, Siam Winery Co. Ltd., Cointreau, Belvedere, Rio Wine, Snake Oil Cocktail Company, Miami Cocktail Co., and Bombay Sapphire.
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