Cordial Drink Market Analysis Europe, North America, APAC, South America, Middle East and Africa - US, China, UK, Germany, India - Size and Forecast 2024-2028

Cordial Drink Market Size 2024-2028

The cordial drink market size is forecast to increase by USD 230.3 million at a CAGR of 4.5% between 2023 and 2028.

• The market is experiencing significant growth due to several key factors. Consumer preferences are shifting towards cordials as an alternative to alcoholic and carbonated beverages, driven by health and wellness trends. Additionally, there is a growing demand for clean-labeled cordials, as consumers increasingly seek out products with natural and organic ingredients. Sustainability is another key trend, with companies using recycled PET and aseptic packaging to reduce plastic waste. Conversely, the market for sweetened cordials is facing a decline due to changing consumer preferences towards reduced sugar and calorie intake. These trends are shaping the market, offering opportunities for manufacturers to innovate and cater to evolving consumer needs.

What will be the Size of the Market During the Forecast Period?

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• The market encompasses a wide range of non-alcoholic beverage products, including fruit cordial, vegetable cordial, and fruit juice cordial. These drinks are often made from natural sources such as fruits, herbs, flowers, and spices, infused with sugar or sugar substitutes and water. The World Health Organization prioritizes the importance of consuming these types of beverages as alternatives to sugary soft drinks and alcohol, which can contribute to various health issues, including obesity and infectious diseases. Squash drinks and fruit juice are popular types of cordial beverages. Squash is made from vegetable extracts, while fruit juice cordial is derived from real fruit juice.
• Both types offer consumers the convenience of long shelf life and easy preparation, either as a concentrate or ready-to-drink beverage. Cordial syrup and flavored beverage concentrate are other essential components of the market. These products offer versatility, as they can be used to flavor water, create cocktails, or enhance the taste of other beverages. Essences, flavors, and diluted cordials are also available, providing consumers with a wide range of options to suit their preferences. Overall, the market caters to diverse tastes and dietary needs, offering consumers healthier alternatives to sugary and alcoholic beverages.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Packaging
  • PET bottles
  • Glass bottles
  • Aluminium cans
  • Others
• Geography
  • Europe
    • Germany
    • UK
  • North America
    • US
  • APAC
    • China
    • India
  • South America
  • Middle East and Africa

By Packaging Insights

• The PET bottles segment is estimated to witness significant growth during the forecast period. The market is witnessing significant growth, driven by the increasing preference for essence-rich, flavorful beverages derived from fruits, herbs, flowers, and spices. Consumers are increasingly seeking customized and adjustable drink options, leading to the popularity of ready-to-drink beverages and diluted cordials. The versatility of cordials allows for the creation of refreshing, burst-of-flavor drinks, ranging from citrus fruits and berries to tropical fruits and botanical infusions. The market is further driven by the growing mixology culture and cocktail trend, with consumers seeking healthier alternatives and dietary preferences. Bartenders and cocktail enthusiasts are experimenting with new flavoring agents, incorporating cordials into cocktails and mocktails, and using them as flavoring agents in desserts.
• Furthermore, the depth and complexity of cordials add to the overall drinking experience, making them a preferred choice for consumers. PET bottles are a popular packaging choice due to their durability, lightweight nature, and recyclability. These versatile bottles cater to various consumption needs, coming in sizes ranging from 250 ml to 2 liters. Their transparency allows consumers to see the product, and their ability to be molded into various shapes enhances brand differentiation. Online platforms and specialty stores are increasingly offering a wide range of cordial drink options, catering to diverse consumer preferences.

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The PET bottles segment was valued at USD 458.70 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market encompasses a wide range of non-alcoholic beverage products, including squash drinks, fruit cordial, vegetable cordial, and fruit juice cordial. These beverages are gaining popularity due to their refreshing taste and convenience. The World Health Organization prioritizes the importance of reducing sugar intake to combat lifestyle disorders such as obesity and diabetes. In response, the market is witnessing a shift towards clean-labeled cordials, which are free from artificial colors, preservatives, and added sugar. Manufacturers are exploring the use of natural ingredients like water, non-carbonated beverages, fruit extracts, vegetable extracts, herbs, and spices as sugar substitutes. The market is witnessing innovation in the form of novel non-alcoholic beverages, with a focus on recyclable and clean-labeled cordials. Department stores and online retail sources are major distribution channels for these products. The foodservice sector is also adopting preservative-free cordials and flavored beverage concentrates for their menus.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of Cordial Drink Market?

• Consumer preference for cordials over alcoholic and carbonated beverages is the key driver of the market. The market encompasses a wide range of flavorful and versatile beverages, including essences derived from fruits, herbs, flowers, and spices. These concentrated flavor bases offer customized drink options, allowing consumers to mix and adjust the sweetness to their preference. Ready-to-drink beverages and diluted cordials are popular choices for those seeking a refreshing and bursting-with-flavor experience. Botanical infusions, citrus fruits, berries, and tropical fruits are common ingredients in cordial drinks, providing a depth and complexity that appeals to consumer trends and dietary preferences. The versatility of cordials extends to cocktails, mocktails, and even desserts, making them a staple in mixology and cocktail culture.
• Bartenders and cocktail enthusiasts often use cordials as a flavoring agent, enhancing the taste and customization possibilities. E-commerce platforms and specialty stores offer a vast selection of cordials, catering to various consumer preferences and the growing demand for healthier alternatives. With the increasing popularity of mixology and the desire for unique and customized drink experiences, the market continues to evolve and thrive.

What are the market trends shaping the Cordial Drink Market?

• Consumer demand for clean-labeled cordials is the upcoming trend in the market. The market is witnessing a significant trend towards clean-labeled products, with consumers expressing a growing preference for natural and organic ingredients. These include real fruit and vegetable extracts, herbs, flowers, and spices, which provide a burst of flavor and depth to the beverages. Clean labeling, which involves transparent disclosure of ingredients through product labeling, is essential for cordials that are free from artificial colors, flavors, and fragrances. Ready-to-drink cordials and their diluted counterparts offer versatility, as they can be mixed and customized to create refreshing, customized drink options. Fruits such as citrus, berries, and tropical fruits, as well as botanical infusions, are popular choices for cordial production.
• The versatility of cordials extends to their use as flavoring agents in cocktails, mocktails, desserts, and other culinary applications. The demand for clean-labeled cordials is driven by consumer trends towards healthier alternatives and the growing cocktail culture. Bartenders and mixologists are increasingly using cordials to create complex and customized drink options for cocktail enthusiasts. E-commerce platforms and specialty stores offer a wide range of cordial options, catering to diverse consumer preferences and dietary requirements. The market for cordials is expected to grow, as consumers continue to seek out natural, clean-labeled, and customizable beverage options.

What challenges does Cordial Drink Market face during the growth?

• Low consumer demand for sweetened cordials is a key challenge affecting the market growth. The market is witnessing a shift towards more natural and customized options as consumers increasingly seek refreshing, adjustable beverages that cater to their unique taste preferences and dietary needs. companies are responding to this trend by infusing their cordials with essences of fruits, herbs, flowers, and spices, creating a burst of flavor that can be diluted to suit individual tastes. These versatile cordials can be mixed with water, soda, or other beverages to create customized drink options, including cocktails and mocktails. The concentrated flavor base allows for a depth and complexity that is appealing to mixology enthusiasts and cocktail culture aficionados.
• As healthier alternatives gain popularity, bartenders and enthusiasts are experimenting with botanical infusions and sugar-free sweeteners, offering consumers a refreshing and delicious alternative to traditional, highly sweetened cordials. With the rise of e-commerce and online platforms, specialty stores and niche brands are making it easier than ever for consumers to access these customized drink options, further fueling the growth of the market. Consumer trends towards personalized and healthier beverage choices, as well as the increasing popularity of cocktail culture, are expected to drive the growth of the market during the forecast period.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Asahi Beverages
• Belvoir farm Drinks Ltd.
• Bickfords Australia Pty. Ltd.
• Britvic plc
• CO RO AS
• Fraser and Neave Holdings Bhd
• Hindustan Unilever Ltd.
• J Sainsbury plc
• Mapro Food Pvt. Ltd.
• Monin Inc.
• Naam Som LLC
• Nichols plc
• norfolkcordial
• Orange Crush M Sdn. Bhd.
• RASNA PVT. LTD.
• Red Horse Fruit Juice Manufacturers Sdn. Bhd.
• Suntory Holdings Ltd.
• The Coca Cola Co.
• The Urban Cordial Co. Ltd.
• Tovali Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The market is witnessing significant growth due to the increasing health consciousness among consumers and the rising prevalence of lifestyle disorders such as obesity and diabetes. According to the World Health Organization, infectious diseases are not the only health concerns; non-communicable diseases like lifestyle disorders are on the rise. In response, consumers are shifting towards non-alcoholic beverages, including cordial drink products like squash drinks, fruit cordial, vegetable cordial, and fruit juice cordial. Department stores and online retail sources are major distribution channels for these beverages. Manufacturers are focusing on producing clean-labeled cordials, free from artificial colors, preservatives, and added sugar.

Moreover, they are using natural ingredients like sugar, sugar substitutes, water, and natural flavors such as vegetable extracts, herbs, and spices. Plastic bottles are being replaced with recycled PET and aseptic packaging to reduce environmental impact. Consumers are also demanding novel non-alcoholic beverages, leading to the development of cordial syrup and flavored beverage concentrates. The foodservice sector is also a significant market for cordial beverages, especially in the non-carbonated beverages segment, which includes soft drinks and cordials. Overall, the market is expected to grow steadily due to these trends and consumer preferences.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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