Tonic water, also known as Indian tonic water is a carbonated soft drink with the presence of dissolved quinine in it. According to Market Research Future (MRFR), the global tonic water market is expected to grow significantly over the forecast period 2018 and 2023, due to increasing consumption of better tasting carbonated drinks with medicinal values. Tonic water is gaining massive demand , owing to the growing demand for drink mixes with a bitter taste such as tonic water, which tastes bitter due to the addition of quinine.
According to a detailed report by Market Research Future (MRFR), the global tonic water market is evaluated to grow at a significant CAGR over the forecast period.
Factors influencing the market growth is the unique taste which encourages consumer preference, use of tonic water in cocktails, and as a drink mixer. Moreover, tonic water is attracting youth owing to its glowing effect under UV rays. Quinine is sensitive to ultraviolet rays owing to which tonic water appears to be fluorescent when exposed to direct sunlight. The market is also expected to grow over the forecast period due to its medicinal values. Profitable opportunities for the market are expected to arise owing to the tonic water manufacturers investing in product flavorings over the forecast period.
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The key players of the market are
- Dr. Pepper Snapple Group (US),
- Hansen Beverage Company, Inc. (US),
- White Rock Beverages (US),
- Stirrings (US),
- Seagram Company Ltd. (Canada),
- Fever-Tree (UK),
- A.S. Watson Group (China),
- Fentimans (UK),
- SodaStream International Ltd. (Israel)
- East Imperial (New Zealand)
The global market for tonic water is segmented based on type, packaging type, distribution channel, and region.
Based on type, the global tonic water market is segmented into flavored, and non-flavored.
Based on packaging type, the tonic water market has been segmented into bottles and cans.
By distribution channel, the global market for tonic water is segmented into store based, and non-store based.
Based on the region, the market has been segmented, into North America, Europe, Asia-Pacific, and rest of the world.
European region dominates the tonic water market owing to the growing use of drink mixers in cocktails and other alcoholic drinks in the region. Tonic water is widely famous in Europe since the British rule in India and the iconic combination of gin and tonic as a cocktail. Furthermore, the presence of a significant drinking culture in the region has resulted in a massive demand for tonic water in various cocktails.
North America is expected to witness steady revenue generation in the tonic water market, owing to the strong economy, growing lifestyle standards, and many lounges, bars, and cafes are the critical drivers for the market in this region.
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Asia-Pacific is estimated to grow the fastest growing region for tonic water. Developing nations in the Asia Pacific such as India and China have a substantial working population with rising disposable incomes and are spending vastly on healthy foods and nutritious supplements. It is likely that the Asia-Pacific region will provide an excellent opportunity for market players of tonic water and due to comparatively relaxed regulations in various countries. The Asia Pacific is a growing regional market for tonic water with substantial growth potential during the forecast period, owing to the fast urbanization and rising disposable incomes, which are expected to encourage leisure expenditure from consumers. The region’s growing economic status, as well as the increasing accessibility of tonic water in hypermarkets in the region, is an example of the high demand for tonic water.
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