Cocktail Machine Market: Introduction
A cocktail machine is an explicitly designed machine for bars, hotels & restaurants, and also for residential purposes that enables automated dispensing of high-quality cocktails and mocktails. The benefits of a cocktail machine is that it is easy to install, can have up to 8 to 30 ingredients, and ensures zero wastage as there is no over pouring, besides other benefits. Cocktail machines are an all-in-one device that uses specialty pods to mix alcohol, juices, and water for a perfectly balanced cocktail with just the press of a button. A cocktail machine consists of various desired capsule, which is filled with bitters, extracts, and juice concentrates. One has to select the desired drink strength (light, regular, double/strong, or mocktail), and press “mix.” The machine reads the capsule, so it knows what drink it is, which alcohol is needed, and dispenses the proper spirit, and water (if necessary), and mixes it with the capsule contents.
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Key Drivers of the Cocktail Machine Market
- Demand for cocktail drinks are increasing with the emerging trends and changing lifestyles, specifically among the millennial & post millennial generation. The growing culture of consuming cocktails at weddings, office parties, family functions, and in bars, restaurants etc. is fuelling the demand for the product in the market. Continued emphasis on cocktail culture makes classic cocktails an area of focus for growing number of users, especially men and respondents aged 25-44.
- Holiday seasons provide even more demand for cocktails which in turn contributes to the growth of the cocktail machine market globally. Increase in alcohol consumption around the world and willingness of people to try innovative products is projected to drive the demand for the product in the market during the forecast period.
Smart Automated Cocktail-making Machines Creating Opportunities in the Market
Innovation & advanced technology helps companies to offer improved products to customers. The latest introduction in the cocktail machine market is smart automated cocktail-making machines, also known as robotic bartender. This smart cocktail-making machine helps to create drinks with the click of a button. The machine needs to be loaded with spirits & mixers. One can select a cocktail and watch the beverage poured with precision & speed with the help of an app. The machine can move left to right dispensing the exact amount and make hundreds of cocktails. The lighting feature in the cocktail machine helps to know the progress of a drink’s completion. These customized machines are likely to create more opportunities for the product in the market.
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Health Issues a Restraint of the Market
Despite the growing demand for cocktails, alcohol is proven to have mental & physical issues, causing liver damage, depression, and it can also lead people toward alcoholism. It is expected that people may limit the usage of alcohol due to rising health awareness and to prevent harmful effects of alcohol. Cocktails contain sugar in large amounts which is again harmful to the human body. Such factors create hurdles and hamper the growth of the cocktail machine market.
North America the Dominant Market
The U.S, Canada, and Mexico are the dominant markets for cocktail machines. The cocktail culture initially began in North America and was adopted by the Asian and European culture. A thriving food & fine dining industry in the U.S, Canada, and other countries of North America is expected to fuel the demand for cocktail machines during the forecast period in the region.
Key Players Operating in the Global Market
Companies are working on product innovation and development to expand their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level.
Some of the major companies identified in the cocktail machine market are:
- Drinkworks
- Bartesian
- Barsys
- MIXOLOGIQ
- Adelantos
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