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Tonic Water Market - PMI
The report“Tonic Water Market, By Type, By Application - Trends, Analysis and Forecast till 2029''
COVINA, CALIFORNIA, UNITED STATES, March 30, 2023/einpresswire.com / -- According to the latest research study, the demand of tonic water market accounted for US$ 1.8 billion in 2020 and is estimated to be US$ 3.5 billion by 2029 and is anticipated to register a CAGR of 7.5%.
Tonic water is a carbonated soft drink that contains quinine, a bitter alkaloid that gives the beverage its distinct flavor. Tonic water is commonly used as a mixer in cocktails, particularly with gin, and is also consumed on its own. The global tonic water market has experienced significant growth in recent years, driven by increasing consumer interest in premium mixers and the rise of the craft cocktail culture. The market is segmented by type, including regular and low-calorie tonic water, and by distribution channel, including supermarkets, specialty stores, and online retailers. The market is dominated by a few major players, but there are also many smaller players that specialize in unique flavors or botanical blends. The tonic water market is expected to continue to grow in the coming years, driven by innovation in flavors and packaging and increasing consumer interest in premium and artisanal mixers.
Report Attribute - Details
Market Size - US$ 1.8 billion
CAGR – 7.5%
Base Year - 2020
Forecast Period – 2020 - 2029
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.On July 2018, Fever-Tree Limited launched“Pink Aromatic Tonic”. This pink aromatic tonic add a splash of pink to Highballs this summer. Fever-Tree's Aromatic Tonic arrives in select top bars, restaurants, hotels and retail stores.
.In February 2018, Fentimans Ltd launched tonic water for 'connoisseurs'. Connoisseurs tonic water has been developed to accentuate and amplify the delicate botanical flavours found in artisanal and premium gin.
Key Market Insights from the report:
Tonic Water Market accounted for US$ 1.8 billion in 2020 and is projected to register a moderate CAGR of 7.5 % over the forecast period. The market report has been segmented on the basis of type, content, application, and region.
.By type, the global tonic water market is segmented into flavored and non-flavored.
.By content, the global tonic water market is bifurcated into regular and diet.
.By application, the global tonic water market is categorized into alcoholic drinks and direct consumption.
.By region, North America tonic water market is accounted for major revenue share of the global tonic water market and is further anticipated to maintain its dominance over the forecast period, owing to increasing standards of living and large number of lounge and cafes in countries of the region. The Asia Pacific tonic water is projected to have fastest growth rate in terms of revenue in the global tonic water in 2018.
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The prominent player operating in the global Tonic Water Market includes Dr Pepper Snapple Group Inc, Fever-Tree Limited, Fentimans Ltd, Q Tonic LLC, Schweppes, S.A., Tomr's Handcrafted, The Coca-Cola Company, Chr. Hansen Holding A/S, SodaStream International Ltd, and Britvic plc.
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Drivers and Restrains of Tonic Water Market:
For companies and organisations looking to comprehend their clients, rivals, and the larger market, market research is a crucial instrument. Nonetheless, the market research sector is vulnerable to a variety of factors and restraints that can have an impact on its growth and development, just like any other business.
.Growing popularity of cocktails: The popularity of cocktails has risen in recent years, particularly among younger consumers, driving demand for tonic water as a mixer.
.Increasing demand for premium mixers: Consumers are increasingly interested in premium mixers that enhance the flavor of cocktails, and tonic water is a popular choice.
.Rising popularity of gin: Gin has experienced a resurgence in popularity, particularly in Western markets, driving demand for tonic water as a mixer.
.Innovation in flavors and packaging: Manufacturers are constantly innovating to create new and unique flavors of tonic water, and packaging innovations, such as cans and small bottles, are also driving growth.
.Health concerns: Tonic water is high in sugar and calories, which can be a concern for health-conscious consumers, particularly those who are looking to reduce their sugar intake.
.Limited consumer awareness: Many consumers are not aware of the potential health risks associated with tonic water, including the quinine content and the high sugar content.
.Competition from alternative mixers: Other mixers, such as soda water and ginger beer, are becoming increasingly popular, and this can limit the growth of the tonic water market.
.Availability of cheaper alternatives: Tonic water is often more expensive than other carbonated beverages, and this can limit demand, particularly in price-sensitive markets.
Key Reasons to Purchase:
There are several key reasons why one might consider purchasing a report on the Tonic Water Market. These include:
1.Market insights: The report can provide valuable insights into the current state of the tonic water market, including trends, opportunities, and challenges.
2.Competitive analysis: The report can help businesses understand the competitive landscape of the tonic water market and identify key players and their market share.
3.Market size and forecast: The report can provide information on the size of the tonic water market and its expected growth over the coming years.
4.Product analysis: The report can provide a detailed analysis of different types of tonic water, including their flavors, packaging, and applications.
5.Consumer insights: The report can provide insights into consumer behavior and preferences related to tonic water and mixers, helping businesses tailor their products to meet consumer demand.
6.Regulatory compliance: The report can provide information on regulatory compliance requirements related to tonic water products, helping businesses ensure they are operating in compliance with relevant laws and regulations.
7.Investment opportunities: The report can help investors identify investment opportunities in the tonic water market, including emerging markets and new product innovations.
For people who want to learn more about a topic, industry, or market and who appreciate the knowledge and expertise offered by a thorough, well-researched paper, purchasing a report may generally be a reasonable investment.
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