The fifth annual Bacardi Cocktail Trends Report has been released, which predicts the key trends that will redefine cocktail culture and the spirits business in 2024.

The report, created in collaboration with strategic foresight consultancy, The Future Laboratory (TFL), draws on insights from Bacardi-led and external research, interviews with bartenders and insights from The Future Laboratory to share the themes that are transforming flavour preferences, drink formats, and cocktail experiences in the coming year.

Global Vice President of Strategy, Insights & Analytics at Bacardi Brenda Fiala said: “As 2024 arrives, people are looking to settle into the unsettled – welcoming tastes of optimism into our reality. In this landscape, people are reshaping cocktail culture, infusing it with fresh perspectives and finding memorable experiences back at the bar with friends. From redefining moderate drinking to a surge in sustainable attitudes, Bacardi is at the forefront, championing a world where people-driven cocktail culture thrives through innovation, experimentation, and overall better moments.”

Here are the macro cocktail trends that Bacardi believes will define spirits sipping in 2024:

Less-but-better libations

Next-generation drinkers are embracing a ‘less but better’ approach, continuing to support the ongoing premiumisation era for key spirits, liquors, and NoLo categories. 

With a conscious approach to the economic climate, consumers are seeking small luxuries – looking to elevated lifestyle products as must-have pieces.

This quality-focused shift transforms spirits into coveted collector’s items, with forward-thinking brands enhancing limited-edition bottles through crafted storytelling.

Simultaneously, the NoLo category continues to evolve, embodying ‘The Sipping Spectrum,’ where moderation is synonymous with choice, quality, flavour, and social connections.

IWSR research illustrates this flexible future in action, reporting that almost half of NoLo consumers choose NoLo options on certain occasions, and full strength on others.

Innovative ageing & blending

Bacardi believes 2024 will usher in an era of innovation for dark, aged spirits, with brands embracing unique aging methods and novel flavour combinations. Distillers are venturing into uncharted territory, discovering new sources of innovation in the expanding category.

Bold and unexpected pairings continue to lead, whereas regional experimentation yields spicy, fruity, and zesty profiles in innovative formats. While enjoyers of dark, aged spirits are diversifying their paletes, rum-based cocktails are continuing to grow in popularity. 

Tequila was the spirit that unanimously ranked as the number one premiumisation category among respondents, with Mezcal named as the next to premiumise, as indicated by the Bacardi Global Consumer Survey 2023.

Escapism elixirs

Cocktail culture is transporting consumers across destinations, countries and even eras – as classic spritzes and ornate sips help to recreate nostalgic, convivial moments year-round.

In 2024, Bacardi believes the link between drinks and destinations will deepen, with classic cocktails and European flavors whisking drinkers from the beach to the bar. This evolution isn’t just about where but also when consumers enjoy drinks.

As for letting loose, non-traditional venues are on the rise, with Bacardi research indicating a shift away from nightclubs to festivals as the new hub for revelry. 

In South Africa and India, more than one-third of respondents are looking to enjoy more sundowner cocktails over the next year, and approximately a quarter in the U.S. and Mexico (27%) and Spain (26%).

Notes of nature

In the coming year, Bacardi believes consumers will reframe their relationship to the natural world, impacting where they spend their time, the brands they support, and what they consume.

With a resurgence in next-gen outdoor activities and a growing emphasis on sustainability, drinks brands are redefining their connection to the environment through intentional ingredients and eco-friendly practices.

In the drinks world, 2024 will see brands and bartenders take a holistic approach to nature and its flavours – harnessing sustainably sourced aromatics, florals, botanicals and oils to create cocktail experiences uniquely rooted in nature.

 According to the Bacardi Global Consumer Survey 2023, 44% of respondents in Canada and 43% of younger respondents in the U.S. intend to consume more cocktails made with natural ingredients in 2024. In emerging markets, the numbers are even higher with 51% in India, 47% South Africa and 44% in Mexico.

Tech-enhanced tastes

Digital advancements are inciting change in ‘what’, ‘where’ and ‘how’ drinks are enjoyed, providing all-new routes to personalization, brand experience and community. As consumers increasingly seek personalized brand interactions, AI is introducing exciting opportunities for tailored cocktail experiences, accessible anytime and anywhere. 

For the drinks industry, AI’s evolution will create all-new paths to experimentation and discovery, with brand innovators using the technology as a tool to bring consumers closer to branded cocktails and experiences, regardless of their location. 

While eight in 10 younger consumers across select markets are looking to explore AI recommendations, they are adamant about maintaining the emotional connection and artistic finesse that only bartenders can provide.

Top bar calls for 2024

A Bacardi Brand Ambassador survey of cocktail trends for 2024 found Mezcal was the next spirit predicted to “explode”, followed by aged rum.

As for the cocktails that will be on top in 2024, this is what consumers had to say …

Download the complete report here.