Tonic Water Market Research, Key Players, Analysis And Forecast 2027: Grand View Research Inc.

 

The global tonic water market size is expected to reach USD 3.0 billion by 2027, expanding at a CAGR of 7.2%, according to a new report by Grand View Research, Inc. Growing consumer drink preferences to ‘Gin and Tonic’ across the globe is the key driving factor for the market. Moreover, increasing the use of tonic water to serve vodka and to make various types of popular cocktails is also offering new scope for the industry.

Over the past few years, consumer’s preference has shifted towards gin, vodka, and various other popular cocktails. Tonic water provides a bitter and flavored edge to these spirits and cocktails. Generally, most of the recipes have 1:1 to 1:3 tonic water to gin ratio. These consumer trends are anticipated to boost the market on a global level over the forecast period. Such product forms are capable of excellent medicinal properties and help to treat malaria and babesiosis. These medicinal properties are also fueling the demand for the product and anticipated to foresee a high growth rate over the forecast period.

North America was the largest market, with a share of more than 30.0% in 2020. The U.S. and Canada are the largest consumers of tonic water which offers a huge opportunity in North American. Moreover, these two countries are also a large consumer of gin with which the product is widely consumed.

Increasing consumption of alcoholic beverages such as gin, vodka, and other various types of cocktails is the key driving factor for the market. Moreover, tonic water contains a good amount of quinine, which helps reduce the chances of malaria and other leg related medical issues. These medicinal properties are expected to fuel market growth over the forecast period. Tonic water is one of the widely consumed soft drinks with spirits across the globe. Many drinks have a strong base of tonic water, which provides a bitter edge to cocktails. Gin and Tonic have become one of the famous mixes consumed by the drinkers around the globe and is generally known as ‘G and T’primarily in countries including the U.S., Canada, the U.K., Ireland, Australia, and New Zealand. Generally, most of the recipes contain 1:1 to 1:3 tonic water to gin ratio. These trends are anticipated to remain the favorable factors for the industry over the forecast period.

To Request Sample Copy of this report, click the link:

https://www.grandviewresearch.com/industry-analysis/tonic-water-market/request/rs1

Tonic water is also widely consumed as a healthy drink across the globe owing to the presence of quinine substance, which is a medication used to treat malaria and babesiosis. This tonic water contains 83 mg of quinine per liter with excellent medicinal effects. Manufacturers in the market offering a wide range of products with added sugars and flavors. These medicinal advantages associated with tonic water are also propelling the product’s demand on a global level.

Tonic Water Market Report Highlights

• The regular segment dominated the industry with a revenue share of more than 75.0% in 2020 and expected to maintain the dominance over the forecast period owing to the wide range of products widely available on a global level
• The diet segment is anticipated to witness a CAGR of 7.7% from 2020 to 2027 owing to the rising popularity of sugarless and low-calorie products among consumers across the globe
• Hypermarket, supermarket, and convenience stores was the largest distribution channel segment with a share of more than 54.0% in 2020. The segment is anticipated to maintain dominance over the forecast period. A large number of companies such as Walmart, Tesco, 7Eleven, Auchan, Sainsbury's, Apar, and Aldi have maximum customer penetration in North America and Europe
• North America accounted for a revenue share of more than 30.0% in 2020. The U.S. and Canada are the largest consumers of tonic water, offering a huge opportunity for the market in North America.

The market is highly fragmented across the globe owing to the presence of a large number of domestic as well as international players. Key manufacturers have significant market share in Europe, North America, and some parts of Asia.

A growing trend of healthy intake is anticipated to focus on quality and low-calorie products. A large number of manufacturers are offering healthy alternatives for high sugar products and is anticipated to be a primary factor for growing market share. Increasing product launches with artificial sweeteners in the market are also anticipated to positively impact industry growth. Some of the prominent players in the tonic water market include:

• FENTIMANS
• Fever-Tree
• Keurig Dr Pepper
• Q MIXERS
• THE COCA-COLA COMPANY
• White Rock Products Corporation
• Zevia
• Asahi Group Holdings, Ltd.
• Hansen Beverage
• Bradleys Tonic Co.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com