UK cocktail market valued at £587m

In the space of a year, the value of the UK cocktail market has increased 9.5% to £587m according to CGA data released by Funkin Cocktails.

Since 2014, the number of UK on-trade outlets serving cocktails has risen by 75% to 42,000 and the same data source says 9m consumers are now drinking cocktails on a night out.

“From high end bars to high footfall venues and everything in-between, cocktails are in huge demand and consumers are happy to pay a premium for a great looking, great taste cocktail,” said Ben Anderson, marketing director at Funkin Cocktails.

The data shows that the average price of a cocktail has increased by 51p year on year and people are willing to pay up to £6.77 for a cocktail while drinking outside of London, and within the capital this price is £7.67.

“Cocktails are becoming more accessible than ever before and we see the biggest growth coming from mainstream outlets,” added Anderson. “The nation’s love affair with cocktails isn’t waning and we would urge those outlets not serving mixed drinks to grab the opportunity and drive footfall and incremental sales.

“Research also reveals that up to 69% of people choose cocktails spontaneously so the opportunity to attract new customers, increase profit per serve and drive footfall is huge just by adding a few classic cocktails to a drinks menu.

“At Funkin Cocktails we now offer a total cocktail solution for all types of outlet and all bartender skill levels. We offer insights, training, drinks development, menu development, point of sale material and most importantly we are working on the ground with bartenders to offer them tailor-made solutions to help them grow, develop, create outstanding cocktails and maximise the profit opportunities cocktails offer.”