Tonic Water Market Share 2022 Explosive Factors of Revenue by Manufacturing Size, Share, Future Trends, Opportunities, Industry Expansion Strategies, Analysis & Forecast to 2031

The global tonic water market is estimated to garner a volume of 1036.5 Million Liters by the end of 2031, by growing at a CAGR of 8.4% over the forecast period, i.e., 2022 – 2031. Moreover, the market registered a volume of 466.2 Million Liters in the year 2021. The growth of the market can majorly be attributed to growing demand for different types of packaged beverages worldwide. In the year 2020, the consumption of packaged water, alcoholic beverages, carbonates soft drinks (CSD), and fruit & vegetable juices reached close to 440 Billion Liters, 240 Billion Liters, 200 Billion Liters, and 85 Billion Liters respectively. The market growth can further be attributed to the growing need amongst the manufacturers in the beverages industry to focus continuously product innovations, backed by the increasing demand for new flavored beverages amongst the consumers.

Tonic water is one such type of carbonated soft drink which has the flavor of quinine. The product, which is also popularly known as Indian tonic water, is used as a prophylactic against malaria disease. On the other hand, the market growth can also be attributed to the rising disposable incomes of people. According to the statistics by the Organisation for Economic Co-Operation and Development (OECD), the household disposable income in the Euro area grew from USD 27352/capita in the year 2010 to USD 34951/capita in the year 2020.

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The market growth can further be attributed to the rising consumption of gin, followed by the surge in the number of distilleries, and the increasing awareness amongst consumers regarding the numerous benefits associated with the consumption of tonic water. In addition to this, the growing culture of cocktails and functional drinks are also expected to add to the market growth in the coming years.

Global Tonic Water Market Regional Synopsis

Regionally, the global tonic water market is segmented into Europe, Middle East & Africa (EMEA), Asia Pacific, United States, South America, and the Rest of the World. The market in the EMEA region is projected to attain the largest volume of 442.6 Million Liters by the end of 2031, up from a volume of 198.7 Million Liters in the year 2021.

The growth of the market in the region can be attributed to the increasing popularity for gin and vodka in the European countries. Besides this, the surge in consumption of alcoholic beverages in the region is also expected to contribute to the market growth in the coming years.

According to the statistics by Eurostat, in the year 2019, in the European Union, 1 in 12 people consumed alcohol on a daily basis. The market in the region is further segmented into the United Kingdom and the Rest of EMEA, out of which, the Rest of EMEA segment is expected to reach the largest volume by the end of 2031 and also grow with the highest CAGR of 8.5% during the forecast period.

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Growth Drivers and Challenges Impacting the Growth of the Global Tonic Water Market

Growth Drivers

  • Growing Disposable Income of People
  • Rising Demand for Different Types of Packaged Beverages

Challenges

  • Availability of Low-Cost Alternatives
  • Lack of Awareness Regarding the Product in Several Nations

Global Tonic Water Market Segmentation Synopsis

The global tonic water market is segmented by type into flavored, and non-flavored tonic water, out of which, the flavored tonic water segment is projected to grow with the highest CAGR of 9.6% during the forecast period. The segment is further divided into flowered-based, and fruit-based tonic water, out of which, the fruit-based tonic water segment is projected to garner the highest market share by the end of 2031. Based on distribution channel, the market is further segmented into online, and offline stores. The offline stores segment is projected to garner the highest market share and also the largest revenue by the end of 2031. The segment is further divided into hypermarkets/supermarkets, and others.

The hypermarkets/supermarkets segment is expected to garner the highest market share by the end of 2031 and also grow with the highest CAGR of 8.3% during the forecast period.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global tonic water market that are included in our report are Fevertree Limited, Keurig Dr Pepper, Inc., Fresh & Wild Limited (Whole Foods Market), White Rock Products Corporation, Fentimans Ltd, EAST IMPERIAL BEVERAGES CORPORATION, Luscombe Drinks Limited, Q Tonic, LLC, Franklin & Sons Ltd, and others.

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