Tonic Water Market Exclusive Analysis 2019 | Size, Value Share, Industry Trend, Top Companies, Growth Factors and Forecast 2023
Jul 10, 2019
Tonic Water Market Global Research Report by Type (Flavoured and Non-Flavoured), Packaging Type (bottles, cans), Distribution Channel (Store Based, Non-Store Based), Region (North America, Europe, Asia-Pacific and RoW) - Forecast Till 2023
pune, India - July 10, 2019 /MarketersMedia/ —
Market Insight
Tonic water market has been segmented by type into flavored and non-flavored. Flavored tonic water dominates the market owing to the variety and palatable taste. Flavored tonic water contains added high fructose corn syrup or sugar and artificial sweeteners, such as aspartame, to cut the bitter taste of quinine making tonic water a direct consuming refreshing drink. Flavored tonic water also imparts a distinct taste when used as a drink mixer in cocktails and vodka-based alcohol drinks.
Tonic water is a carbonated drink that includes quinine as a major ingredient. Quinine has been used for its medicinal properties to treat malaria and other diseases. Quinine in tonic water tastes bitter and was used earlier as a palatable way to consume quinine medicine. Recently tonic water has gained popularity as a drink mixer in gin and vodka-based alcoholic drinks. Direct consumption of tonic for bitter flavor has also been a key driver driving the growth of tonic water market.
The tonic water market is segmented by packaging type, in which the cans segment generates the maximum revenue since cans are easy to carry, cost effective, and are non-breakable. Cans are also healthy for the environment since they are recyclable.
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The distribution of tonic water has been segmented as store based and non-store based, for which store-based holds for the maximum revenue owing to strong vendor networks and less time consumption in terms of small orders. Growing demand for drink mixers, carbonated beverages, and medicinal drinks have been leading the growth of the tonic water market at a steady rate during the forecast period.
Top Key Players
Some of the key players in the global Tonic Water Market are
• Seagram Company Ltd. (Canada)
• White Rock Beverages (US)
• Hansen Beverage Company, Inc. (US)
• Stirrings (US)
• East Imperial (New Zealand)
• Fever-Tree (UK),
• A.S. Watson Group (China),
• Dr Pepper Snapple Group (US),
• SodaStream International Ltd. (Israel),
• Fentimans (UK)
Regional Analysis
Europe is holding the maximum share of the tonic water market due to high inclination towards consumption of both alcoholic and non-alcoholic beverages. In Germany, the addition of quinine is regulated by the German Flavorings Directive, while permitting a limit of quinine content in tonic water as 85mg/l. The quinine content in tonic water makes it a favorable drink mixer in this region, thereby, boosting the growth of the market.
North America being a matured market is also showing a decent market growth of tonic water owing to high inclination for mixed drinks and medicinal beverages. Asia-Pacific is witnessed to be the fastest growing market for tonic water owing to the growing population, mainly inclined towards adoption of global eating habits.
Globally, the market for tonic water is growing at a steady rate and it is expected that key players will develop more products in terms of flavor, texture, pricing, and packaging to attract more consumers.
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Segmentation
The global Tonic Water Market has been segmented into type, packaging type, distribution channel, and region.
The market based on type has been segmented into flavored and non-flavored.
The market, by packaging type, has been segmented into bottles and cans.
The market, by distribution channel, has been segmented into store based and non-store based.
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