April 12, 2024 – With glasses clinking and shakers rattling in bars across the United States, the cocktail scene is bubbling with vitality, creativity, and, notably, escalating sales. Recent data from CGA by NIQ has unveiled compelling insights into the cocktail market, particularly in the last quarter of 2023, affirming that Americans’ affection for finely crafted libations is not just enduring but thriving.
Let’s delve into these dynamic findings reshaping the beverage landscape.
By the close of 2023, cocktail sales in the US on-trade establishments, where drinks are consumed on-site, experienced not just a stir but a resounding shake, with a notable 5% surge in the value of cocktail sales year-on-year. Similarly, the volume depicts a parallel narrative, with an average increase to 1,192 cocktails sold per venue, signaling a robust 6% uptick. This spirited expansion underscores a pervasive appetite for cocktails that transcends casual imbibing to encompass a broader spectrum of the American palate.
In a revelation hardly surprising yet immensely gratifying, Nevada, the glitzy enclave of Las Vegas, has surpassed both itself and the national average by a considerable margin. The state, synonymous with opulence, indulgence, and the allure of casinos, witnessed cocktail sales surpassing twice the national average. This statistic not only underscores Nevada’s unparalleled entertainment allure but also its significant role in invigorating the cocktail industry.
Nationally, the average price of a cocktail has surged to $13, marking a dollar increment from the preceding year. Leading this price surge is the exotic Mai Tai, a beloved fixture in tiki bars, renowned for its potent blend of rum, lime, and tropical nuances. This upward price trend reflects not only inflationary pressures but also a growing consumer inclination towards quality and experiential value over mere alcohol content.
Dominating the cocktail preference among Americans is the timeless Margarita, commanding more than a fifth of total cocktail sales. This citrus-infused elixir of tequila, lime, and triple sec continues to captivate palates with its harmonious blend of sweet, sour, and salty notes. Trailing closely behind are the Martini and Moscow Mule, underscoring the enduring allure of classic cocktails in shaping the nation’s taste preferences.
The ascendance of tequila is evident, with the agave-based spirit now constituting 34.1% of cocktail base sales by value, marking a notable 1.8% upswing from the previous year. This surge reflects a broader trend towards premiumization and an increasing appreciation for tequila’s versatility and depth. Meanwhile, vodka observes a marginal decline, while wine-based cocktails have overtaken rum-based counterparts, claiming a 6.8% share.
Matthew Crompton, CGA by NIQ’s regional director for North America, paints an optimistic outlook, remarking, “Following a stellar final quarter of last year, the cocktail category is poised for further robust growth throughout 2024.” His statement not only underscores the enduring appeal of staples like the Margarita but also highlights the dynamic, ever-evolving nature of consumer preferences within the cocktail market.
In essence, the US cocktail scene is pulsating with vigor like never before, where each shake, stir, and pour heralds not just a drink but an immersive experience. Whether it’s the allure of a premium-priced Mai Tai, the timeless charm of a Margarita, or the burgeoning popularity of wine-based libations, the American cocktail narrative epitomizes innovation, resilience, and, above all, a collective celebration of good times.
