Bacardi Limited has released its fifth annual Bacardi Cocktail Trends Report, outlining its predictions for the key cocktail trends that will drive the bar world in 2024.
Created in partnership with The Future Laboratory, the report draws on research, interviews and insights from bartenders and others in the cocktail world to highlight the five key trends and cocktail experiences you can expect to see over the next 12 months.
Commenting on the report, Brenda Fiala, Global Vice President of Strategy, Insights & Analytics at Bacardi, said: “In 2024, people are looking to settle into the unsettled – welcoming a taste of optimism into our reality. In this landscape, people are reimagining cocktail culture, infusing it with fresh perspectives and finding memorable experiences at the bar with friends.
“From the redefinition of moderate drinking to the rise of sustainable attitudes, Bacardi is at the forefront, championing a world where people-driven cocktail culture thrives through innovation, experimentation and overall better moments.”
The five key cocktail trends for 2024:
Limited Edition Drinks
As the next generation of drinkers embrace a “less but better” approach to their drinking, this brings with it a shift in premiumization, with spirits becoming coveted collectibles. As a result, forward-thinking brands will elevate limited-edition bottles through artisanal storytelling.
In addition, the NoLo category will continue to evolve as consumers look to moderate their consumption by choosing NoLo options on certain occasions, but do not want to compromise on choice, quality, flavor or social connection.
Innovative aging and bold pairings
A new era of innovation in dark, aged spirits is expected through 2024, with brands embracing new and unique aging methods and unusual flavor combinations.
Distillers are discovering new sources of innovation and are supported by their brands in regional experimentation to create bold and unexpected pairings.
Dark aged spirits drinkers are diversifying their palates and rum-based cocktails continue to grow in popularity, while tequila was ranked the number one premiumization category in the Bacardi Global Consumer Survey 2023 and mezcal was named the next premiumization category.
Escapism Moments
Using cocktails to transport consumers across destinations and even time periods is nothing new, with flavors and drinks helping to recreate nostalgic and social moments throughout the year.
In 2024, the connection between drinks and destinations will deepen, with classic cocktails and European flavors transporting drinkers from the beach to the bar.
This evolution isn’t just about where, but also when consumers enjoy their drinks, with sundowner cocktails expected to grow in popularity next year.
Sustainability and the environment
The importance of sustainability will continue to grow in 2024, and beverage brands will redefine their connection to the environment through intentional ingredients and eco-friendly practices.
Consumers will also redefine their relationship with the natural world, influencing where they spend their time, the brands they support and what they consume.
In the world of beverages, in 2024, brands and bartenders will take a holistic approach to nature and its flavors – using sustainably sourced aromatics, florals, botanicals and oils to create cocktail experiences that are uniquely rooted in nature.
Tasty Tech
The continued evolution of AI will build on consumers’ desire for more personalized experiences, and AI presents exciting opportunities for customized cocktail experiences that can be accessed anytime, anywhere.
For the beverage industry, the evolution of AI will create entirely new avenues for experimentation and discovery, with brand innovators using the technology as a tool to bring consumers closer to branded cocktails and experiences, regardless of location.
While 8 in 10 younger consumers in select markets want to explore AI recommendations, they are adamant about maintaining the emotional connection and artistic finesse that only bartenders can provide.
