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The cordial drink market size is estimated to grow by USD 230.3 million at a CAGR of 4.5% between 2023 and 2028. Market growth is influenced by several key factors. Firstly, there is a noticeable consumer preference for cordials over alcoholic and carbonated beverages, driven by a shift towards healthier and non-alcoholic options. Secondly, increasing consumer awareness of the health risks associated with alcoholic drinks is leading to a decline in alcohol consumption and a rise in demand for safer alternatives. Lastly, there is a growing consumer demand for ready-to-drink (RTD) beverages, which offer convenience and a variety of flavors, catering to the fast-paced lifestyles of modern consumers. These factors collectively highlight the evolving preferences and health-conscious choices driving market trends in the beverage industry.
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The market encompasses a wide range of beverages, including fruit cordial, vegetable cordial, and fruit juice cordial. These beverages are prepared by concentrating the essence or flavor of fruits, vegetables, herbs, flowers, and spices. The market for these beverages is significant within the context of the non-alcoholic beverage industry. WHO highlights the importance of reducing the intake of sugar-sweetened beverages, including cordial drinks, to maintain optimal health. As a result, the market for sugar substitutes in cordial drinks is experiencing growth. Additionally, the demand for ready-to-drink and diluted cordial beverages is increasing due to their convenience. Non-carbonated beverages, such as cordial syrup and flavored beverage concentrate, are gaining popularity as healthier alternatives to soft drinks. Water is another essential ingredient in the production of cordial drinks. The market for vegetable extracts and herbs and spices is also growing, as consumers seek out more natural and healthier options. In summary, the market is a dynamic and evolving industry that caters to the diverse preferences and health concerns of consumers. It includes a wide range of beverages, from traditional fruit cordials to modern vegetable extracts and sugar substitutes. 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.
Consumer preference for cordials over alcoholic and carbonated beverages is notably driving market growth. The market encompasses a vast array of essences, flavors, and customized options derived from fruits, herbs, flowers, and spices. These versatile beverages offer a burst of flavor, ranging from citrus fruits and berries to tropical fruits and botanical infusions. The depth and complexity of these cordials cater to diverse consumer preferences, allowing for adjustable sweetness levels and various mix-in possibilities. Ready-to-drink cordials and diluted concentrates provide convenience for consumers, while mixology and cocktail culture continue to evolve, offering refreshing and innovative drink options.
Furthermore, the market is versatile, enabling consumers to create customized drink choices, from classic cocktails and mocktails to flavoring agents for desserts and healthier alternatives. Bartenders and enthusiasts alike appreciate the versatility and adaptability of cordials, with e-commerce, online platforms, specialty stores, and consumer trends driving the market's growth. Dietary preferences and mixologists' creativity further expand the market's potential, as consumers seek unique and personalized drink experiences. The essence of cordials lies in their ability to provide a customized and adjustable flavor base, making them an essential component of the beverage industry. Thus, such factors are driving the market's growth during the forecast period.
Consumer demand for clean-labeled cordials is the key trend in the market. The essence of clean-labeled cordial drinks lies in their natural and organic ingredients, derived from fruits, herbs, flowers, and spices. These ready-to-drink beverages offer a burst of flavor, customized to consumer preferences, and adjustable for sweetness levels. The versatility of cordials allows for mixing and diluting, making them a refreshing choice for various occasions. Citrus fruits, berries, and tropical fruits are popular choices for cordial production, providing a depth and complexity of flavor. Botanical infusions add a layer of sophistication, catering to the growing trend of healthier alternatives.
Furthermore, bartenders and mixologists utilize cordials as a flavoring agent in cocktails and mocktails, enhancing the overall experience. Consumer preferences for clean-labeled cordials continue to evolve, driven by the cocktail culture and increasing interest in mixology. Dietary preferences, such as vegan and gluten-free, are also influencing the market. Vendors capitalize on this trend by offering customized drink options, strengthening their market presence and increasing revenues. E-commerce and online platforms have made clean-labeled cordials more accessible, allowing enthusiasts to explore a wide range of options from the comfort of their homes. Specialty stores cater to the niche market, offering a curated selection of cordials, further fueling the demand. In summary, clean-labeled cordial drinks offer a versatile, refreshing, and customizable beverage experience, driven by consumer preferences for natural and organic ingredients. The market continues to grow, with vendors providing a range of flavor options, from citrus and berries to botanical infusions, catering to the diverse needs and tastes of consumers. Thus, such trends will shape the market's growth during the forecast period.
Low consumer demand for sweetened cordials is the major challenge that affects the growth of the market. The cordial drink market encompasses a vast array of essences, derived from fruits, herbs, flowers, and spices. These beverages offer a versatile and refreshing experience, available in both ready-to-drink and diluted forms. The customizable nature of cordials allows for the creation of bursts of flavor, adjustable to individual preferences. Citrus fruits, berries, and tropical fruits are popular choices, while botanical infusions add depth and complexity to the drink. Sweetness is a significant aspect of cordial drinks, often achieved through the use of flavoring agents.
However, consumer trends lean towards healthier alternatives, as concerns regarding lifestyle problems and health conditions such as diabetes and obesity continue to rise. The IDF reports that in 2021, approximately 537 million adults worldwide were living with diabetes. Customized drink options extend beyond cordials, with applications in cocktails, mocktails, and even desserts. Mixology and cocktail culture have gained significant popularity, with bartenders and enthusiasts experimenting with various flavor combinations. E-commerce and online platforms, as well as specialty stores, cater to the diverse consumer base, offering a wide range of options to suit various dietary preferences. Mixologists and cocktail enthusiasts continue to explore new ways to enhance the cordial drink experience, often incorporating unique and exotic ingredients. The concentrated flavor base of cordials makes them an essential component of the beverage industry, providing a robust foundation for a multitude of refreshing and customizable drink options. Hence, the above factors will impede the growth of the market during the forecast period
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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bickfords Australia Pty. Ltd - The company offers traditional cordial drinks which contain up to 35 percent of fruit juice with no artificial colors, flavors, or sweeteners and can be mixed with soda or still water to drink as mocktails.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
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.
The market share growth by the PET Bottles segment will be significant during the forecast period. The cordial drink market is characterized by its essence of flavor derived from fruits, herbs, flowers, and spices. This versatile category of ready-to-drink beverages caters to diverse consumer preferences, offering both diluted and concentrated options. The market is enriched with a burst of flavors, ranging from citrus fruits like oranges and lemons to berries and tropical fruits. Botanical infusions add depth and complexity to the drink, appealing to the palates of cocktail enthusiasts and mixology aficionados.
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The PET Bottles segment showed a gradual increase in the market share of USD 458.70 million in 2018. Customized drink options, such as adjustable sweetness levels, cater to individual tastes. The market also includes cocktails and mocktails, which serve as flavoring agents for various desserts and dishes. The versatility of cordials allows for customized drink experiences, making them a refreshing choice for various occasions. Consumer trends favor healthier alternatives, leading to the growth of the cordial drink market. Bartenders and mixologists continue to innovate, creating new concoctions and expanding the cocktail culture. E-commerce platforms and online stores, along with specialty stores, provide easy access to these beverages, catering to the diverse dietary preferences of consumers. The cordial drink market offers a wide range of options, from traditional flavors to unique, customized drink experiences. The ability to adjust the flavor base and create personalized drinks adds to the appeal of these beverages. Whether it's a refreshing summer drink or a warming winter cocktail, cordials provide a burst of flavor and a customized drinking experience.
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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.
The market encompasses a wide range of beverages, including fruit cordials, vegetable cordials, fruit juice cordials, and squash drinks. These products, often sweetened with sugar or sugar substitutes, are available in department stores and online retail platforms. The World Health Organization (WHO) emphasizes the importance of limiting alcohol consumption and promoting healthier beverage choices to combat lifestyle disorders such as obesity and diabetes. Non-alcoholic cordial beverage products, including squash drinks and fruit cordials, are gaining popularity due to their versatility and convenience. Fruit cordials, made from fruit extracts and herbs and spices, offer a healthier alternative to sugary soft drinks. Vegetable cordials, derived from vegetable extracts, provide essential nutrients and add unique flavors to beverages. Fruit juice cordials, which contain water and fruit juice concentrates, offer a clean-labeled option for consumers seeking to reduce their sugar intake. Sustainable packaging solutions, such as recycled PET bottles and aseptic packaging, are increasingly being adopted to minimize the environmental impact of these products. Non-carbonated beverages, including cordials, are expected to witness significant growth in the coming years, as consumers continue to seek healthier alternatives to sugary soft drinks.
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.
Functional Drinks Market: Functional Drinks Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, China, Japan, Germany, Canada - Size and Forecas
Alcoholic Drinks Market: Alcoholic Drinks Market Analysis APAC, Europe, North America, South America, Middle East and Africa - China, US, UK, Japan, Germany - Size and Forecast 2024
Sports Drink Market: Sports Drink Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, China, UK, India, Germany - Size and Forecast
The market is a significant sector within the global beverage industry. These non-alcoholic beverages, often sweetened and flavored, offer consumers a refreshing and enjoyable experience. Key ingredients in cordial drinks include fruits, herbs, and various sweeteners. The market for cordial drinks is driven by several factors, including increasing health consciousness, growing demand for natural and organic products, and the expanding global middle class. Consumers are increasingly seeking out cordial drinks that are free from artificial flavors and preservatives. Additionally, the convenience of ready-to-drink cordial beverages is a major factor driving growth in this market. Departments and convenience stores are the primary distribution channels for cordial drinks. The future of the cordial drink market looks promising, with innovation and product development being key trends.
Market Scope |
|
Report Coverage |
Details |
Page number |
137 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2024-2028 |
USD 230.3 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, China, UK, Germany, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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., and Tovali Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Packaging
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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