Crafted for the connoisseurs
Cocktail culture
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In Asia Pacific, cocktail culture is thriving. In fact, three social and economic shifts are happening simultaneously: a widespread, sober-curious desire to drink more mindfully, consumption at home rather than in cocktail bars, and increased demand for higher-quality, more sophisticated ingredients.
Why drinking habits are changing
One reason is the rising cost of living. Research shows a third to half of consumers in key Asia Pacific markets 1 feel concerned about their future finances. Another reason is consumers’ holistic health goals. Countries with younger consumer bases are seeing more moderation, with more consumers purchasing lo-no alternatives.
And there’s one category that’s perfectly positioned to take advantage of: the ready-to-drink cocktail (RTD). Pent-up consumer demand for quality, affordable, lo-no cocktail experiences will drive the growth of the RTD category by a projected 8.7% to USD 40 bn in 2023-2027 2.
Cocktail trends
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BarTrek®: unveiling trends across Asia’s barscape
Givaudan set out to find the RTD cocktail trends defining 2024 and beyond on our BarTrek journey, taking in novel flavours, sensations and experiences across the Asian cocktail scene.
We sampled 113 cocktails in 10 renowned bars and interviewed 5 of Singapore’s leading bartenders to find out where they see opportunities for innovation. These insights will help guide RTD cocktail producers to craft their next flavoured lo-no alcoholic beverages preferred by consumers.
Reach out to learn how we can help you co-crorate unforgettable multisensory cocktail experiences that will captivate your consumers.
Download the brochure
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Dynata/Mintel; KuRunData/Mintel; Rakuten Insight/Mintel; March 2023
IWSR Drinks Market Analaysis 2022, https://www.theiwsr.com/rtd-category-will-hit-us40bn-by-2027-driven-by-growth-in-cocktails-long-drinks-and-premium-products/#:~:text=The%20RTD%20category%20is%20expected,%2Dand%2Dabove%20price%20bracket
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