Bacardi Ltd., the world’s largest privately held worldwide spirits firm, just lately released its fifth annual Bacardi Cocktail Developments Report.
The report, a collaboration with The Future Laboratory, combines insights from Bacardi’s analysis, business specialists and bartender interviews. It focuses on upcoming tendencies in flavors, drink types and cocktail experiences for the following yr.
The alcohol market stays sizzling, with startups like Lit Vodka — an ultra-premium, clear and carbon-filtered vodka model — picking up steam among investors.
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3 Areas Of Focus From The Report
Whereas there is not any scarcity of data within the report, some areas stand out as extra impactful than others.
1. Shifting Priorities In Spirits Consumption
In 2024, the pattern in spirits consumption leans towards a less-but-better philosophy. This shift displays a rising choice for high-quality spirits and non-alcoholic and low-alcoholic (NoLo) drinks.
Customers more and more worth high quality over amount, viewing their drink decisions as a type of small, accessible luxurious. This pattern encompasses the tales and craftsmanship behind limited-edition bottles. The NoLo class good points traction, representing a stability of moderation, high quality and social engagement.
2. Evolution In Darkish Spirits: Growing old And Mixing
The world of darkish, aged spirits will bear a big transformation in 2024. Distilleries plan to interrupt new floor with revolutionary getting old strategies and taste profiles.
With this, customers will encounter daring and surprising taste mixtures, in addition to regional variations that provide a variety of spicy, fruity and zesty notes. This evolution may even be seen within the rising reputation of rum-based cocktails and the rise of tequila and mezcal within the premiumization class, as highlighted within the Bacardi International Shopper Survey 2023.
3. Cocktails As A Gateway To Escapism
Cocktail tradition in 2024 will change into an avenue for escapism, providing customers a sensory journey like none different.
The Bacardi analysis signifies a shift in social ingesting venues, with a rising choice for festivals over nightclubs. In areas like South Africa, India, the U.S. and Mexico, there will likely be an elevated curiosity in having fun with cocktails in the course of the golden hours of sundown, reflecting a broader pattern in in search of experiential ingesting moments.