Global Cordial Drink Market Size, Share, Growth Analysis, By Type(Fruit cordial, vegetable cordial), By Distribution Channel(supermarket/hypermarket, departmental stores) - Industry Forecast 2024-2031

Global cordial drink market size was valued at USD 1.02 billion in 2022 and is poised to grow from USD 1.06 billion in 2023 to USD 1.45 billion by 2031, at a CAGR of 4.0% during the forecast period (2024-2031).

As per the WHO, alcohol stands as the foremost contributor to global mortality rates. WHO estimates indicate that alcohol accounts for 5.1% of the global disease burden. Research demonstrates a correlation between alcohol misuse and various physical, mental, and behavioral disorders. These issues may encompass infectious ailments like tuberculosis. Globally, there has been a consistent rise in the demand for non-alcoholic beverages, as consumers actively seek to reduce their alcohol consumption. Cordial beverage products, such as squash drinks, have emerged as a favorable alternative to alcoholic beverages. These sweet, dessert-like drinks offer a less harmful option, devoid of intoxicating substances, suitable for consumption on any occasion.

Top-down and bottom-up approaches were used to estimate and validate the size of the global cordial drink market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Cordial Drink Market Segmental Analysis

The cordial drink market is segmented based on type, distribution channel, and region. By type, the market is segmented into fruit cordial, vegetable cordial, and herbs & spices cordials. By distribution channel, the market is segmented into the supermarket/hypermarket, departmental stores, and online retail. By region, the market is segmented into North America, Europe, Asia pacific, South America, and MEA.

Drivers of the Global Cordial Drink Market

The cordial market is experiencing growth due to rising demand for convenient and flavorful non-alcoholic beverages. Many formulations in this market incorporate ingredients like vegetable extracts, fruit juice, herbs, spices, sugar substitutes, and water. There's a growing interest in innovative alcohol-free fruit-based beverages and non-carbonated drinks. With increasing awareness of the health risks associated with alcohol consumption, including concerns about cancer rates, consumers are increasingly turning to soft drinks, including cordials. The popularity of cordials is further fueled by their widespread availability in cafes, restaurants, and hotels, making them easily accessible to consumers. Moreover, the demand for clean label products is prompting manufacturers to introduce liqueurs that are free from sugar and preservatives, catering to health-conscious consumers' preferences.

Restraints in the Global Cordial Drink Market

The rise in sugar content in food items is constraining the growth of the cordials market. Additionally, the market faces a significant challenge from the availability of substitutes like ready-to-drink juice. Moreover, the increasing prevalence of lifestyle-related disorders such as obesity and diabetes is dissuading consumers from purchasing heavily sweetened cordials. Another factor affecting the cordials market is the common use of plastic bottles for packaging, raising sustainability concerns. This aspect could contribute to the decline in the cordial market.

Market Trends of the Global Cordial Drink Market

The emerging trend of clean-labeled cordials is anticipated to bolster the cordial drink market in the near future. Clean labeling entails transparently disclosing the ingredients used in cordials through their packaging. These cordials are devoid of artificial colors, flavors, and ingredients, instead incorporating natural and organic components such as real fruit and vegetable extracts. The growing recognition of the environmental consequences associated with synthetic and artificial ingredients in beverages is driving the heightened adoption of naturally derived cordials.