Increasing consumption of alcoholic beverages, rising awareness of the health benefits of tonic water are factors driving the global tonic water market in the forecast period 2024-2028.
According to a TechSci Research report titled "Global Tonic Water Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028," the Global Tonic Water Market achieved a value of USD 780.52 million in 2022 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.73% during the forecast period from 2024 to 2028. The global tonic water market has undergone substantial changes in recent years, driven by shifting consumer preferences, a focus on health-conscious choices, and the ever-expanding cocktail culture.
The tonic water market, once primarily a mixer for gin and other spirits, has undergone a remarkable transformation and witnessed significant growth in recent years. The industry's dynamic evolution can be attributed to a multitude of factors that have adapted in response to changing consumer preferences, lifestyles, and global trends.
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Tonic water has gained popularity in various regions due to its perceived health benefits. Its quinine content has historically been used in the treatment of malaria. Tonic water is also known for its potential to reduce leg cramps, act as a stress reliever, serve as a substitute for alcoholic beverages, thereby reducing alcohol consumption, and revitalize individuals due to its high sugar content. With an increase in casual occasions and parties involving alcohol, the demand for tonic water has risen. As consumers have become more health-conscious, there has been an increased demand for low-sugar or sugar-free beverages. Tonic water manufacturers are responding to consumer preferences by creating products tailored to their needs. For instance, in February 2022, the UK-based functional beverage brand Buzzed introduced a new energy tonic water, which is powered by natural caffeine, pure blossom honey, and stevia.
Initially, tonic water was used as a medicinal remedy against malaria, but it now contains significantly lower quinine content and is consumed primarily for its distinct bitter taste. It is frequently used in alcoholic drinks, especially in gin-based cocktails. Today, tonic water is available as a standalone beverage with reduced quinine levels and a variety of flavors. Market players have been innovating tonic water by introducing options with low quinine content, corn syrup, high fructose sugar, and various flavors. For example, in September 2022, the Australian beverage company Capi collaborated with Malfy Gin to launch "Sunset Tonic," an all-natural ingredient tonic that pairs perfectly with Malfy Gin's citrus-flavored gin, creating the Malfy Sunset Gin and Tonic. Rising disposable incomes, modernization, the promotion of tonic water as a mixer with alcoholic beverages, and the growing popularity of tonic water have also driven demand.
An increasingly health-conscious consumer base is seeking beverages that align with their wellness goals. This has led to a demand for tonic waters that offer healthier alternatives to traditional options. The popularity of low-calorie and sugar-free tonic waters has surged as consumers aim to reduce their calorie and sugar intake while enjoying their favorite cocktails. Tonic water manufacturers are incorporating functional ingredients and botanical infusions, promoting both refreshment and potential health benefits, such as antioxidants and digestive aids. The global resurgence of cocktails has reignited the demand for premium mixers like tonic water. Consumers are experimenting with cocktails at home and in bars, driving the need for high-quality ingredients. Tonic water plays a pivotal role in classic cocktails like the Gin and Tonic, Moscow Mule, and others. Its unique flavor profile makes it an essential component of many popular mixed drinks.
The Global Tonic Water Market is segmented based on type, flavor, packaging, distribution channel, regional distribution, and companies.
- In terms of type, the market is categorized into plain and flavored tonic water. Plain tonic water remains the most popular type, accounting for the majority of the market share. Flavored tonic water is gaining popularity as consumers seek new and innovative flavors.
- In 2022, Europe was the dominant region in the market. Europe is renowned for its consumption of gin, with the Gin and Tonic being one of the most famous cocktails in the region. Tonic water is highly regarded for its flavors and its versatility in different beverages. The market for tonic water is growing in Europe, driven by the introduction of new and innovative products by market players.
Major companies operating in Global Tonic Water Market are:
- Coca-Cola Company
- El Guapo Bitters
- Fentimans Ltd.
- Fever Tree Drinks Plc
- Keurig Dr. Pepper Inc.
- London Essence Company
- Franklin & Sons Ltd
- Bradley's Tonic Co.
- East Imperial Beverage Corporation
- Q Tonic LLC
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Mr. Karan Chechi, Research Director at TechSci Research, a research-based management consulting firm, commented, "The tonic water market has experienced impressive growth in recent years, driven by a combination of factors. The resurgence of cocktail culture, with a focus on premium mixers, has significantly contributed to this expansion. Health-conscious consumers seeking lower-calorie and sugar-free options have also fueled demand. Furthermore, sustainability and eco-consciousness have prompted the adoption of responsible sourcing and eco-friendly packaging, resonating with environmentally aware consumers. Craft and premium tonic waters, alongside regional and unique flavor profiles, have captured the attention of a diverse customer base. This growth trajectory is further accelerated by e-commerce, global expansion, and a constant drive for innovation within the industry."
The report titled "Tonic Water Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Regular Tonic Water, Low-Calorie Tonic Water, Slimline Tonic Water), By Flavor (Plain Tonic Water, Flavored Tonic Water), By Packaging (Bottles, Cans), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online, Others), By Region, By Competition, 2018-2028," has assessed the future growth potential of the global tonic water market, providing statistics and information on market size, structure, and future market growth. The report aims to provide cutting-edge market intelligence to assist decision-makers in making sound investment decisions, and it also identifies and analyzes emerging trends along with essential drivers, challenges, and opportunities in the global tonic water market.
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