In
order to steal a march over their competitors in the global tonic
water market, manufacturers are expending money on research and
development to come up with new flavors to cater to the different
palates of the consumers. This has served to increase competition in
the market.
Some
of the prominent participants in the global
tonic water market are Fentimans Ltd., The Coca-Cola Company,
Diageo Plc., Q Drinks, White Rock Products Corp., Thomas Henry GmbH &
Co. KG, Powell And Mahoney LLC, Fevertree Drinks PLC, Dr. Pepper
Snapple Group, Inc., Monster Beverage Corporation, MBG International
Premium Brands GmbH, East Imperial Superior Beverages, JACK RUDY
COCKTAIL CO., Boylan Bottling Co Inc., Casalbor, S.L., LLANLLYR WATER
CO LTD, Shasta Beverages, Inc., Sygama SA, Luscombe Drinks, and
Bradley’s Tonic Co.
A
new study by Transparency Market Research predicts the global tonic
water market to rise at a 6.1% CAGR from 2017 to 2025 to become worth
US$2.45 bn by the end of 2025 from US$1.52 bn.
Tonic
water finds application in direct consumption and alcoholic drinks.
Of them, the segment of alcoholic drinks grosses most of the revenue
in the market on account of the increasing alcohol intake worldwide
resulting from the influence of social media, the increase in the
number of private and office parties, and the perception that
alcoholic drinks relaxes the mind. The tonic water market in
alcoholic drink segment is forecasted to clock a higher CAGR of 6.6%
between 2017 and 2025.
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exclusive Sample of this report:
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From
a geographical standpoint, Asia Pacific is a key market that is
expected to grow at the healthy clip – a CAGR of 5.7% from 2017 and
2025 on the back of rapid industrialization and urbanization – the
two phenomena that have increased the disposable incomes of people
and changed their lifestyles leading to more alcohol intake.
Rapid
Industrialization and Urbanization Stoke Growth
At
the forefront of driving growth in the global market for tonic water
is the rising disposable incomes of people on account of
industrialization and economic growth. Besides, industrialization has
also led to urbanization, which in turn, has changed the lifestyle of
people. This has resulted in increased consumption of alcohol such as
gin, vodka, etc. Tonic water is often added to them to make them into
a drink. Apart from that, the mushrooming clubs, lounges, and bars
are also boosting sales of tonic water.
Emergence
of Various Flavors Drives Demand
Another
factor having a positive impact on the global tonic water market is
the emergence of tonic water with different flavors in order to
attract consumers. This factor will continue to benefit the market in
the upcoming years as well. Increasing number of individuals are
focusing on their health and trying to cut down the total calorie
intake, owing to which unsweetened variants of tonic water is
penetrating the shelves of retail stores. This has led to increasing
sale of tonic water and is expected to continue over the forecast
period.
“One
factor expected to dampen uptake is the focus by manufacturers to
portray tonic water as a mixer for alcoholic drinks only, although it
can be consumed as a soft drink on its own. As a result tonic water
may not find space on shelves as a soft drink due to low awareness
among consumers,” explains the lead analyst of the report.
This
review is based on the findings of a TMR report, titled, “Tonic
Water Market (Product – Flavored and Non-flavored; Content –
Regular and Diet; Application – Alcoholic Drinks and Direct
Consumption; and Sales Channel – Direct Sales and Retail Sales) –
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
2017–2025.”
The
Global Tonic Water Market is segmented as below:
Global
Tonic Water Market, by Type
- Flavored
- Non-flavored
Global
Tonic Water Market, by Content
- Regular
- Diet
Global
Tonic Water Market, by Application
- Alcoholic Drinks
- Direct Consumption
Global
Tonic Water Market, by Sales Channel
- Direct Sales
- Retail Sales
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