Mar 18, 2020, 09:49 EST
New York, United States, Mar 18, 2020, 09:49 /Comserve / -- The global tonic water market is anticipated to expand at a CAGR of around 7% during the forecast period i.e. 2019-2027.
In a recently published report by Research Nester titled “Tonic Water Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global tonic water market in terms of market segmentation by product type, application, distribution channel and by region.
The global tonic water market can be segmented by product type, application, distribution channel and regions. Based on product type, the market is segmented into regular tonic water, low calorie tonic water, herb/essential oil infused tonic water, flavored tonic water and others. The market is further segmented by application into alcoholic drinks, direct consumption and others; by distribution channel into hypermarket/supermarket, convenience stores, bars and nightclubs and others. Tonic water is a carbonated beverage which consists of quinine as a major ingredient. Quinine is a medication which is used to treat malaria and other diseases. In regard to the bitter taste of quinine, tonic water was initially used as a palatable way to consume quinine medicine however it has gained popularity as a drink mixer in gin and vodka-based alcoholic drinks.
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The global tonic water market is anticipated to expand at a CAGR of around 7% during the forecast period i.e. 2019-2027. The rapidly rising interest in direct consumption of tonic water is an important driver for the market. This consumption trend is an outcome of several factors like the growing consumer interest in drinks that are non-alcoholic, not too sweet and can mimic the feel of drinking alcoholic beverages.
By region, the global tonic water market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa, out of which, North America market dominates the global tonic water market in terms of revenue owing to factors such as increased standards of living and prevalence of large number of lounge, bar and cafes. The market in Asia Pacific is projected to have fastest growth with highest CAGR, owing to increasing disposable income, rapid industrialization and urbanization.
Increasing Consumption of Gin
Rising consumption of gin is projected to bolster the market growth. Tonic water is mainly used as mixers for making gin cocktails, and the increasing consumption of gin globally will help fuel the demand. The increasing product launches in the market is expected to be an impetus for the global gin market. The number of distilleries producing gin is increasing. In the UK, the number of distilleries producing gin increased around 18% in 2017. Currently, the UK has more than 300 distilleries that produce gin. The number of craft distilleries producing gin is increasing in the US as the demand for small batch gin products is increasing among consumers. The demand for gin and tonic cocktails is also gaining popularity. Thus, increasing the production and popularity of gin and tonic cocktails will increase the demand for tonic water during the forecast period.
However, the low consumption of tonic water in developing countries is due to the low awareness about the products and a relatively lower or unevenly spread consumption of gin. The use of tonic water in alcoholic drink mixes such as gin and tonic is well established in the developed countries but is still in nascent stage in emerging countries.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global tonic water market which includes company profiling of key companies such as Dr. Pepper Snapple Group Inc. (Schweppes), Fever-tree, Fentimans, White Rock, Hansen’s, Stirrings, Bradleys Tonic, QMixers, Jack Rudy Cocktail Co., The Coca Cola Company (Seagram’s) and Powell & Mahoney Craft Cocktail Mixers.The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global tonic water market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Get more information on this report: https://www.researchnester.com/reports/global-tonic-water-market/1496
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