According
to a new report by Transparency Market Research (TMR), the leading
players in the global tonic water market are investing substantially
to increase research and development activities in a bid to come up
with new flavors to match up with the requirements of consumers.
Fentimans Ltd., Diageo Plc., The Coca-Cola Co., Q Drinks, Thomas
Henry GmbH & Co. KG, White Rock Products Corp., Powell And
Mahoney LLC, Dr. Pepper Snapple Group Inc., Fevertree Drinks Plc.,
Monster Beverage Corp., East Imperial Superior Beverages, MBG
International Premium Brands GmbH, Jack Rudy Cocktail Co., Casalbor
S.L., Boylan Bottling Co. Inc., Llanllyr Water Co. Ltd., Sygama SA,
Shasta Beverages Inc., Bradley’s Tonic Co., and Luscombe Drinks are
some of the key vendors of tonic water reviewed in this research
report.
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In
2016, the opportunity in the global market for tonic water was
US$1.52 bn. Expanding at a CAGR of 6.10% during the period from 2017
to 2025, it is likely to touch US$2.45 bn mark by the end of the
period of the forecast. Alcoholic drinks have surfaced as the main
application area of tonic water and the scenario is anticipated to
remain same over the next few years. Among products, flavored tonic
water is witnessing a relatively higher demand than its non-flavored
counterpart. Among the geographies, Asia Pacific has been leading the
market for tonic water across the world. Expanding at a CAGR of 5.70%
between 2017 and 2025, this regional market is anticipated to remain
on the top over the next few years, states the market study.
The
increasing disposable income of people, thanks to the rapid
industrialization and the strengthening of economic condition in
various countries across the world, has reflected dramatically on
their lifestyles, resulting in augmented consumption of alcohol such
as vodka and gin. “Since tonic water is used to mix into these
spirits to make a drink, its demand is also increasing
significantly,” states a researcher at TMR. The constant rise in
the number of clubs, lounges, and bars, fueling alcohol consumption,
is also fueling the sales of tonic
water, reflecting greatly on this market.
Although
the future of worldwide market for tonic water looks bright, the
increasing awareness among consumers regarding the ill effects of
alcohol on health and wellness is anticipated to impact negatively on
the growth of this market over the next few years. However, the
continuing introduction of tonic water in new and fresh flavors may
give this market a push in the near future, reports the market study.
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more Information:
https://www.prnewswire.com/news-releases/global-tonic-water-market-to-reach-us245-billion-by-2025---transparency-market-research-650751813.html
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