Nitro Cocktails Market
Nitro Cocktails Market Forecasts to 2030 - Global Analysis By Type (Spirit-based, Malt-based and Wine-based), Packaging (Bottles and Cans), Distribution Channel and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $22.29 MN |
|
Projected Year Value (2030) |
US $74.01 MN |
|
CAGR (2023 - 2030) |
18.7% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Nitro Cocktails Market is accounted for $22.29 million in 2023 and is expected to reach $74.01 million by 2030 growing at a CAGR of 18.7% during the forecast period. Nitro cocktails are mixed beverages that incorporate nitrogen gas to create a distinctive drinking experience. Nitrogen infusion adds a unique texture and effervescence to the cocktails, enhancing both the visual appeal and the mouthfeel. This process is achieved by pressurizing the drink with nitrogen, typically using specialized dispensing systems. Commonly found in ready-to-drink formats, nitro cocktails often feature various spirits, providing a novel twist to classic recipes. This trend aligns with consumer preferences for convenience, premiumization, and a desire for new, experiential flavors.
Market Dynamics:
Driver:
Rising trend of ready-to-drink beverages
Convenience is becoming a growing priority in consumer lifestyles, which has led to an increase in the market for pre-packaged and readily available drinks. Nitro cocktails are a convenient option for consumers who are always on the go because of their ready-to-drink nature, which eliminates the need for substantial preparation. Moreover, this trend can be especially seen in the at-home beverage market, where customers are looking for premium and unique drinks without having to deal with complicated blending. In order to reach a wider audience, the market takes advantage of the ready-to-drink trend by providing a classy and hassle-free drinking experience.
Restraint:
Equipment and dispensing challenges
The production and serving of nitro cocktails require specialised nitrogen dispensing systems, which can be costly and complex to install. Many bars and restaurants may hesitate to invest in this equipment, limiting the widespread availability of nitrogen-infused beverages. Also, the need for proper maintenance and staff training adds another layer of complexity, potentially hindering the seamless integration of nitro cocktails into establishments. Thus, it impedes market growth.
Opportunity:
Demand for healthy and low-sugar beverages
As consumers increasingly prioritise wellness, nitro cocktails offer a unique advantage. The nitrogen infusion process enhances the drink's texture and mouthfeel without the need for excessive sugar, aligning with health-conscious preferences. This positions nitro cocktails as a healthier alternative to traditional sugary mixed drinks. The opportunity lies in marketing these beverages as a sophisticated, low-sugar option that caters to the evolving tastes of health-conscious consumers. Furthermore, by tapping into this trend, the market can contribute to changing perceptions of cocktails as indulgent yet health-conscious choices.
Threat:
Stringent regulations
Evolving laws related to alcohol distribution, safety standards, and the use of nitrogen can create compliance challenges for producers and retailers. Adapting to and staying abreast of changing regulatory landscapes may require significant resources and adjustments to business practices, potentially impacting the ease of production, distribution, and marketing of nitro cocktails. Navigating through these regulatory hurdles is essential for sustaining the growth and market presence of nitrogen-infused beverages, as non-compliance could lead to legal issues, fines, or restrictions, hindering the market's expansion.
Covid-19 Impact
The Nitro Cocktails Market experienced both challenges and opportunities during the COVID-19 pandemic. On one hand, lockdowns and restrictions impacted the on-premise consumption and experiential aspect of nitro cocktails in bars and restaurants. However, the rise in at-home consumption led to increased demand for ready-to-drink nitro cocktails through retail channels. The industry adapted with innovative packaging and marketing strategies, targeting consumers looking for unique home experiences.
The spirit-based segment is expected to be the largest during the forecast period
The spirit-based segment is estimated to hold the largest share. Spirit-based nitro cocktails involve infusing traditional cocktails with nitrogen to create a unique and effervescent drinking experience. In this segment, various spirits such as vodka, gin, rum, or whiskey are incorporated into the nitro cocktail creation process. The addition of nitrogen imparts a smooth and creamy texture to the beverages, enhancing their overall appeal. Moreover, by incorporating spirits into the nitro cocktail realm, mixologists and beverage enthusiasts can explore innovative combinations, elevating classic drinks to new heights.
The liquor stores segment is expected to have the highest CAGR during the forecast period
The liquor stores segment is anticipated to have lucrative growth during the forecast period. As a distinct niche, liquor stores curate and distribute a range of pre-packaged nitro cocktails, providing consumers with convenient access to these innovative beverages. This segment capitalises on the rising demand for ready-to-drink options, allowing customers to explore and purchase a variety of nitro cocktail brands and flavours. Liquor stores play a pivotal role in expanding the market reach of nitro cocktails, offering a one-stop destination for enthusiasts seeking both traditional spirits and cutting-edge, nitrogen-infused cocktail experiences.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period owing to rising disposable income, evolving consumer preferences, and a burgeoning cocktail culture. Urban nightlife hubs embrace this trend, with bars and restaurants incorporating Nitro cocktails into their menus. Diverse flavour profiles, effective marketing, and social media visibility contribute to the trend's success. As the hospitality industry embraces nitrogen-infused beverages, the market is poised for further expansion, with diverse flavour profiles and unique presentation enhancing the appeal of nitro cocktails across the Asia-Pacific region.
Region with highest CAGR:
North America is expected to witness profitable growth over the projection period, due to growing demand for unique beverage experiences. Major cities, particularly in the United States and Canada, have witnessed the proliferation of bars and restaurants offering nitrogen-infused cocktails. The trend is fuelled by a consumer base seeking innovation and premiumization in their drinking choices. Ready-to-drink nitro cocktails have gained traction, aligning with the convenience preferences of North American consumers. Furthermore, the region's robust cocktail culture and diverse preferences contribute to the continued expansion and experimentation within the market.
Key players in the market
Some of the key players in the Nitro Cocktails Market include FUNKIN Cocktails, Mocktail Beverages Inc., Straight Away Cocktails, Manchester Drinks Company Ltd., Bacardi Limited, Brown-Forman, SHANGHAI BACCHUS LIQUOR CO., Asahi Group Holdings and Pernod Ricard.
Key Developments:
In December 2023, Mocktail Beverages, Inc. Introduces Alcohol-Free Nitro Canned Cocktails for Bars, Restaurants & Hotels/Resorts in the U.S. Nitrogen Technology Elevates Ready-to-Drink Presentation and Experience for Guests While Providing Bartenders with a Next Level Ready-to-Serve Solution.
In 2021, Molson Coors Beverage Company expanded its nitro-infused cocktail range by introducing a new line of canned cocktails, including a nitro-infused Moscow Mule and a nitro-infused Margarita.
Types Covered:
• Spirit-based
• Malt-based
• Wine-based
Packagings Covered:
• Bottles
• Cans
Distribution Channels Covered:
• Liquor Stores
• Supermarkets
• Online
• Other Distribution Channels
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Nitro Cocktails Market, By Type
5.1 Introduction
5.2 Spirit-based
5.3 Malt-based
5.4 Wine-based
6 Global Nitro Cocktails Market, By Packaging
6.1 Introduction
6.2 Bottles
6.3 Cans
7 Global Nitro Cocktails Market, By Distribution Channel
7.1 Introduction
7.2 Liquor Stores
7.3 Supermarkets
7.4 Online
7.5 Other Distribution Channels
8 Global Nitro Cocktails Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 FUNKIN Cocktails
10.2 Mocktail Beverages, Inc.
10.3 Straight Away Cocktails
10.4 Manchester Drinks Company Ltd.
10.5 Bacardi Limited
10.6 Brown-Forman
10.7 SHANGHAI BACCHUS LIQUOR CO.
10.8 Asahi Group Holdings
10.9 Pernod Ricard
List of Tables
1 Global Nitro Cocktails Market Outlook, By Region (2021-2030) ($MN)
2 Global Nitro Cocktails Market Outlook, By Type (2021-2030) ($MN)
3 Global Nitro Cocktails Market Outlook, By Spirit-based (2021-2030) ($MN)
4 Global Nitro Cocktails Market Outlook, By Malt-based (2021-2030) ($MN)
5 Global Nitro Cocktails Market Outlook, By Wine-based (2021-2030) ($MN)
6 Global Nitro Cocktails Market Outlook, By Packaging (2021-2030) ($MN)
7 Global Nitro Cocktails Market Outlook, By Bottles (2021-2030) ($MN)
8 Global Nitro Cocktails Market Outlook, By Cans (2021-2030) ($MN)
9 Global Nitro Cocktails Market Outlook, By Distribution Channel (2021-2030) ($MN)
10 Global Nitro Cocktails Market Outlook, By Liquor Stores (2021-2030) ($MN)
11 Global Nitro Cocktails Market Outlook, By Supermarkets (2021-2030) ($MN)
12 Global Nitro Cocktails Market Outlook, By Online (2021-2030) ($MN)
13 Global Nitro Cocktails Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
14 North America Nitro Cocktails Market Outlook, By Country (2021-2030) ($MN)
15 North America Nitro Cocktails Market Outlook, By Type (2021-2030) ($MN)
16 North America Nitro Cocktails Market Outlook, By Spirit-based (2021-2030) ($MN)
17 North America Nitro Cocktails Market Outlook, By Malt-based (2021-2030) ($MN)
18 North America Nitro Cocktails Market Outlook, By Wine-based (2021-2030) ($MN)
19 North America Nitro Cocktails Market Outlook, By Packaging (2021-2030) ($MN)
20 North America Nitro Cocktails Market Outlook, By Bottles (2021-2030) ($MN)
21 North America Nitro Cocktails Market Outlook, By Cans (2021-2030) ($MN)
22 North America Nitro Cocktails Market Outlook, By Distribution Channel (2021-2030) ($MN)
23 North America Nitro Cocktails Market Outlook, By Liquor Stores (2021-2030) ($MN)
24 North America Nitro Cocktails Market Outlook, By Supermarkets (2021-2030) ($MN)
25 North America Nitro Cocktails Market Outlook, By Online (2021-2030) ($MN)
26 North America Nitro Cocktails Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
27 Europe Nitro Cocktails Market Outlook, By Country (2021-2030) ($MN)
28 Europe Nitro Cocktails Market Outlook, By Type (2021-2030) ($MN)
29 Europe Nitro Cocktails Market Outlook, By Spirit-based (2021-2030) ($MN)
30 Europe Nitro Cocktails Market Outlook, By Malt-based (2021-2030) ($MN)
31 Europe Nitro Cocktails Market Outlook, By Wine-based (2021-2030) ($MN)
32 Europe Nitro Cocktails Market Outlook, By Packaging (2021-2030) ($MN)
33 Europe Nitro Cocktails Market Outlook, By Bottles (2021-2030) ($MN)
34 Europe Nitro Cocktails Market Outlook, By Cans (2021-2030) ($MN)
35 Europe Nitro Cocktails Market Outlook, By Distribution Channel (2021-2030) ($MN)
36 Europe Nitro Cocktails Market Outlook, By Liquor Stores (2021-2030) ($MN)
37 Europe Nitro Cocktails Market Outlook, By Supermarkets (2021-2030) ($MN)
38 Europe Nitro Cocktails Market Outlook, By Online (2021-2030) ($MN)
39 Europe Nitro Cocktails Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
40 Asia Pacific Nitro Cocktails Market Outlook, By Country (2021-2030) ($MN)
41 Asia Pacific Nitro Cocktails Market Outlook, By Type (2021-2030) ($MN)
42 Asia Pacific Nitro Cocktails Market Outlook, By Spirit-based (2021-2030) ($MN)
43 Asia Pacific Nitro Cocktails Market Outlook, By Malt-based (2021-2030) ($MN)
44 Asia Pacific Nitro Cocktails Market Outlook, By Wine-based (2021-2030) ($MN)
45 Asia Pacific Nitro Cocktails Market Outlook, By Packaging (2021-2030) ($MN)
46 Asia Pacific Nitro Cocktails Market Outlook, By Bottles (2021-2030) ($MN)
47 Asia Pacific Nitro Cocktails Market Outlook, By Cans (2021-2030) ($MN)
48 Asia Pacific Nitro Cocktails Market Outlook, By Distribution Channel (2021-2030) ($MN)
49 Asia Pacific Nitro Cocktails Market Outlook, By Liquor Stores (2021-2030) ($MN)
50 Asia Pacific Nitro Cocktails Market Outlook, By Supermarkets (2021-2030) ($MN)
51 Asia Pacific Nitro Cocktails Market Outlook, By Online (2021-2030) ($MN)
52 Asia Pacific Nitro Cocktails Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
53 South America Nitro Cocktails Market Outlook, By Country (2021-2030) ($MN)
54 South America Nitro Cocktails Market Outlook, By Type (2021-2030) ($MN)
55 South America Nitro Cocktails Market Outlook, By Spirit-based (2021-2030) ($MN)
56 South America Nitro Cocktails Market Outlook, By Malt-based (2021-2030) ($MN)
57 South America Nitro Cocktails Market Outlook, By Wine-based (2021-2030) ($MN)
58 South America Nitro Cocktails Market Outlook, By Packaging (2021-2030) ($MN)
59 South America Nitro Cocktails Market Outlook, By Bottles (2021-2030) ($MN)
60 South America Nitro Cocktails Market Outlook, By Cans (2021-2030) ($MN)
61 South America Nitro Cocktails Market Outlook, By Distribution Channel (2021-2030) ($MN)
62 South America Nitro Cocktails Market Outlook, By Liquor Stores (2021-2030) ($MN)
63 South America Nitro Cocktails Market Outlook, By Supermarkets (2021-2030) ($MN)
64 South America Nitro Cocktails Market Outlook, By Online (2021-2030) ($MN)
65 South America Nitro Cocktails Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
66 Middle East & Africa Nitro Cocktails Market Outlook, By Country (2021-2030) ($MN)
67 Middle East & Africa Nitro Cocktails Market Outlook, By Type (2021-2030) ($MN)
68 Middle East & Africa Nitro Cocktails Market Outlook, By Spirit-based (2021-2030) ($MN)
69 Middle East & Africa Nitro Cocktails Market Outlook, By Malt-based (2021-2030) ($MN)
70 Middle East & Africa Nitro Cocktails Market Outlook, By Wine-based (2021-2030) ($MN)
71 Middle East & Africa Nitro Cocktails Market Outlook, By Packaging (2021-2030) ($MN)
72 Middle East & Africa Nitro Cocktails Market Outlook, By Bottles (2021-2030) ($MN)
73 Middle East & Africa Nitro Cocktails Market Outlook, By Cans (2021-2030) ($MN)
74 Middle East & Africa Nitro Cocktails Market Outlook, By Distribution Channel (2021-2030) ($MN)
75 Middle East & Africa Nitro Cocktails Market Outlook, By Liquor Stores (2021-2030) ($MN)
76 Middle East & Africa Nitro Cocktails Market Outlook, By Supermarkets (2021-2030) ($MN)
77 Middle East & Africa Nitro Cocktails Market Outlook, By Online (2021-2030) ($MN)
78 Middle East & Africa Nitro Cocktails Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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