IMARC Group, a leading market research company, has recently releases report titled “Tonic Water Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global tonic water market trends, share, size, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the tonic water market?

The global tonic water market size reached US$ 800.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,187.2 Million by 2028, exhibiting a growth rate (CAGR) of 6.73% during 2023-2028.

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What are tonic water?

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.

What are the growth prospects and trends in the tonic water industry?

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.

Who are the key players operating in the industry?

The report covers the major market players including: 

• Bradley's Tonic Co.
• East Imperial Beverage Corporation
• El Guapo Bitters
• Fentimans Ltd
• Fevertree Drinks plc
• Franklin & Sons Ltd
• Keurig Dr Pepper Inc.
• Q Tonic LLC
• The Coca-Cola Company
• The London Essence Company
• White Rock Products Corporation and Zevia.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Flavor:

• Plain Tonic Water
• Flavored Tonic Water

Breakup by Packaging Form:

• Bottles
• Cans

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Stores
• Others

Breakup by Region:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

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