IMARC Group, a leading market research company, has recently releases report titled “Cordial Drink Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global cordial drink market size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the cordial drink market?
The global cordial drink market size reached US$ 345 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 431.9 Million by 2028, exhibiting a growth rate (CAGR) of 4.26% during 2023-2028.
Factors Affecting the Growth of the Cordial Drink Industry:
- Health and Wellness Trends:
Health and wellness trends significantly influence the cordial drink market, as consumers increasingly prioritize beverages that contribute to their overall well-being. This shift has led to a rise in demand for cordials made with natural, organic ingredients, often perceived as healthier alternatives to artificially flavored and high-sugar drinks. Manufacturers are responding by creating cordials with reduced sugar content, free from artificial colors and preservatives, and incorporating health-boosting elements like vitamins, minerals, and herbal extracts. Additionally, there’s a growing interest in cordials featuring superfoods and adaptogens, catering to specific health needs and wellness goals. This trend towards health-conscious consumption is driving innovation in the cordial market, as brands strive to balance flavor with the nutritional demands of the modern, health-aware consumer.
- Flavor Innovation and Diversity:
The cordial drink market is experiencing a surge in flavor innovation and diversity, driven by consumer demand for new and unique taste experiences. This trend has led manufacturers to explore beyond traditional fruit flavors, introducing exotic, gourmet, and even savory options. By incorporating global culinary trends and local taste preferences, brands are offering an expanded palette of flavors, ranging from tropical fruits to botanical and spice-infused varieties. This diversity not only caters to a broader audience but also encourages experimentation and customization among consumers. Additionally, the introduction of limited-edition and seasonal flavors keeps the market dynamic and engaging. This focus on flavor innovation and variety is crucial for attracting and retaining consumers in a competitive beverage landscape, where distinct and appealing tastes are key differentiators.
- Changing Consumer Lifestyles and Convenience:
Changing consumer lifestyles and the growing emphasis on convenience significantly impact the cordial drink market. In today’s fast-paced world, consumers, particularly in urban areas, are increasingly seeking quick, convenient beverage options that fit their busy schedules. Cordials, with their ease of preparation, cater to this need effectively. They offer a hassle-free way to enjoy a variety of drinks, simply by mixing them with water or other beverages, aligning with the trend of on-the-go consumption. Moreover, the rise in home entertainment and DIY culture has bolstered the popularity of cordials, as they provide a versatile base for creating a range of homemade drinks, from simple refreshments to complex cocktail mixers. The adaptability and convenience of cordials make them a preferred choice in the evolving lifestyle and consumption patterns of modern consumers.
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Cordial Drink Market Report Segmentation:
Breakup By Type:
- Fruit Cordials
- Vegetable Cordials
- Herbs and Spices Cordials
Vegetable cordials dominate the type segment in the market due to their increasing popularity for their perceived health benefits and innovative flavors, appealing to health-conscious consumers seeking alternatives to traditional sugary drinks.
Breakup By Source:
- Organic
- Conventional
Organic cordials lead the source segment in the market, reflecting a growing consumer preference for products made with natural, pesticide-free ingredients, aligning with the global trend towards organic and health-oriented food and beverages.
Breakup By Distribution Channel:
- Supermarkets and Hypermarkets
- Departmental Stores
- Online Retail
- Others
Departmental stores are the primary distribution channel for cordials, offering a wide variety, accessibility, and convenience of one-stop shopping, thus making them a popular choice among consumers for purchasing these beverages.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
The Asia Pacific region holds the largest market share for cordial drinks, driven by the region’s large population, growing middle class with increasing disposable income, and a cultural inclination towards flavored and sweetened beverages.
Global Cordial Drink Market Trends:
The growing emphasis on natural and healthier cordial drink options represents one of the key factors influencing the growth of the cordial drink market across the globe. Consumers are seeking beverages with minimal artificial additives and lower sugar content, driving the demand for cordial drinks made from natural ingredients and offering reduced sugar variants.
The market is witnessing a surge in innovative and exotic flavor profiles. Manufacturers are exploring unique and globally inspired flavors to cater to adventurous consumers looking for novel taste experiences. This trend aligns with the broader culinary interest in diverse and unconventional flavors, extending the appeal of cordial drinks beyond traditional options. Additionally, cordial drinks are finding applications in mixology and craft cocktails, which is contributing to their popularity in bars and restaurants.
Who are the key players operating in the industry?
The report covers the major market players including:
- Asahi Group Holdings Ltd.
- Belvoir Farm
- Bickford’s Australia Pty. Ltd.
- Britvic Plc
- J Sainsbury plc
- Nichols Plc
- Rasna Private Limited
- The Coca Cola Company
- The Urban Cordial Co. Ltd.
- Tovali Limited
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