The latest report by IMARC Group, titled “Tonic Water Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global tonic water market reached a value of US$ 1,846 Million in 2020. Tonic water is a carbonated soft drink infused with quinine and derived from the barks of the cinchona tree. However, it contains a significantly lower quantity of quinine and is consumed for its distinctive bitter flavor. Quinine is a bitter compound that is generally used as a prophylactic against malaria. It is also used to prevent and cure babesiosis and other diseases. In recent years, the demand for tonic water has escalated as it contains fewer calories and is combined with alcohol and fruit juice, making it palatable.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Tonic Water Market Trends:
The market is primarily driven by the growing consumption of alcoholic beverages due to the resurgence of the cocktail trend. Besides this, the rising number of clubs, lounges, bars and breweries that serve alcoholic beverages is also facilitating the market growth. In addition to this, with the rising trend of socialization, especially among the expanding young population, there has been escalating demand for tonic water. Nowadays, market players are introducing different variants of tonic water with premium and distinct characters like added flavorings, which is increasing their sales. Moreover, the aggressive promotion on social media and online platforms, the inflating disposable income of individuals and the launch of diet tonic water with less sugar content are some of the other factors that are creating vast opportunities for the market. Looking forward, the market is expected to grow at a CAGR of 7.1% during the forecast period (2021-2026).
- Based on the flavor, the market has been segmented into plain and flavored tonic water.
- On the basis of the packaging form, the market has been classified into bottles and cans.
- The market has been categorized based on the distribution channel into supermarkets and hypermarkets, convenience stores, online stores, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Bradley's Tonic Co., East Imperial Beverage Corporation, El Guapo Bitters, Fentimans Limited, Fevertree Drinks plc, Franklin & Sons Limited, Keurig Dr Pepper Inc., Q Tonic LLC, The Coca-Cola Company, The London Essence Company, White Rock Products Corporation, and Zevia, LLC.
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