BACARDI COCKTAIL TRENDS REPORT 2024
The fifth annual Bacardi Cocktail Trends Report has been released, which predicts the key trends that will redefine cocktail culture and the spirits business in 2024.
The report, created in collaboration with strategic foresight consultancy, The Future Laboratory (TFL), draws on insights from Bacardi-led and external research, interviews with bartenders and insights from The Future Laboratory to share the themes that are transforming flavour preferences, drink formats, and cocktail experiences in the coming year.
Here are the macro cocktail trends that Bacardi believes will define spirits sipping in 2024:
Less-but-better libations
Premiumization is at the top of consumers’ minds as a growing group look to drink less but better spirits that provide a taste of luxury amid economic storms. In the Bacardi Global Consumer Survey, seven in 10 respondents globally said that they’d pay more for quality spirits when choosing a drink.
Innovative ageing & blending
Bacardi believes 2024 will usher in an era of innovation for dark, aged spirits, with brands embracing unique aging methods and novel flavour combinations. Distillers are venturing into uncharted territory, discovering new sources of innovation in the expanding category.
Bold and unexpected pairings continue to lead, whereas regional experimentation yields spicy, fruity, and zesty profiles in innovative formats. While enjoyers of dark, aged spirits are diversifying their palates, rum-based cocktails are continuing to grow in popularity.
Escapism elixirs
Cocktail culture is transporting consumers across destinations, countries and even eras – as classic spritzes and ornate sips help to recreate nostalgic, convivial moments year-round.
In 2024, Bacardi believes the link between drinks and destinations will deepen, with classic cocktails and European flavours whisking drinkers from the beach to the bar. This evolution isn’t just about where but also when consumers enjoy drinks.
As for letting loose, non-traditional venues are on the rise, with Bacardi research indicating a shift away from nightclubs to festivals as the new hub for revelry.
In South Africa and India, more than one-third of respondents are looking to enjoy more sundowner cocktails over the next year, and approximately a quarter in the U.S. and Mexico (27%) and Spain (26%).
Notes of nature
In the coming year, Bacardi believes consumers will reframe their relationship to the natural world, impacting where they spend their time, the brands they support, and what they consume.
With a resurgence in next-gen outdoor activities and a growing emphasis on sustainability, drinks brands are redefining their connection to the environment through intentional ingredients and eco-friendly practices.
In the drinks world, 2024 will see brands and bartenders take a holistic approach to nature and its flavours – harnessing sustainably sourced aromatics, florals, botanicals and oils to create cocktail experiences uniquely rooted in nature.
According to the Bacardi Global Consumer Survey 2023, 44% of respondents in Canada and 43% of younger respondents in the U.S. intend to consume more cocktails made with natural ingredients in 2024. In emerging markets, the numbers are even higher with 51% in India, 47% South Africa and 44% in Mexico.
Tech-enhanced tastes
Digital advancements are inciting change in ‘what’, ‘where’ and ‘how’ drinks are enjoyed, providing all-new routes to personalization, brand experience and community. As consumers increasingly seek personalized brand interactions, AI is introducing exciting opportunities for tailored cocktail experiences, accessible anytime and anywhere.
For the drinks industry, AI’s evolution will create all-new paths to experimentation and discovery, with brand innovators using the technology as a tool to bring consumers closer to branded cocktails and experiences, regardless of their location.
While eight in 10 younger consumers across select markets are looking to explore AI recommendations, they are adamant about maintaining the emotional connection and artistic finesse that only bartenders can provide.
Read the full 2024 Bacardi Cocktail Trends Report here >>> Bacardi-Cocktail-Trends-Report-2024-FINAL
