Takeaways From The Bacardi Cocktail Trends Report 2024

Bacardi Ltd., the world's largest privately held international spirits company, recently released its fifth annual Bacardi Cocktail Trends Report.

The report, a collaboration with The Future Laboratory, combines insights from Bacardi’s research, industry experts and bartender interviews. It focuses on upcoming trends in flavors, drink styles and cocktail experiences for the next year.

The alcohol market remains hot, with startups like Lit Vodka — an ultra-premium, clean and carbon-filtered vodka brand — picking up steam among investors. 

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3 Areas Of Focus From The Report

While there's no shortage of information in the report, some areas stand out as more impactful than others. 

1. Shifting Priorities In Spirits Consumption

In 2024, the trend in spirits consumption leans toward a less-but-better philosophy. This shift reflects a growing preference for high-quality spirits and non-alcoholic and low-alcoholic (NoLo) beverages. 

Consumers increasingly value quality over quantity, viewing their drink choices as a form of small, accessible luxury. This trend encompasses the stories and craftsmanship behind limited-edition bottles. The NoLo category gains traction, representing a balance of moderation, quality and social engagement. 

2. Evolution In Dark Spirits: Aging And Blending

The world of dark, aged spirits will undergo a significant transformation in 2024. Distilleries plan to break new ground with innovative aging techniques and flavor profiles. 

With this, consumers will encounter bold and unexpected flavor combinations, as well as regional variations that offer a range of spicy, fruity and zesty notes. This evolution will also be visible in the growing popularity of rum-based cocktails and the rise of tequila and mezcal in the premiumization category, as highlighted in the Bacardi Global Consumer Survey 2023. 

3. Cocktails As A Gateway To Escapism

Cocktail culture in 2024 will become an avenue for escapism, offering consumers a sensory journey like none other. 

The Bacardi research indicates a shift in social drinking venues, with a growing preference for festivals over nightclubs. In regions like South Africa, India, the U.S. and Mexico, there will be an increased interest in enjoying cocktails during the golden hours of sunset, reflecting a broader trend in seeking experiential drinking moments.

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