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The / market size was valued at USD 2.3 billion in 2021 and is anticipated to grow at a CAGR of 10.8% from 2022 to 2030. The increasing trend of DIY cocktails at home is propelling the demand for this market. Moreover, rising consumer focus on low-calorie drinks such as gin and tequila is expected to boost the demand. Most consumers drink gin & tonic, while others also prefer vodka & tonic. These combinations are extremely popular among female drinkers.
The per capita consumption of gin is high in countries including Spain, Belgium, Netherlands, the UK, Ireland, the US, and Canada, which is driving the demand for tonic water in these countries. According to the IWSR report, gin has reinvented itself and its demand has been increasing in countries like the UK, South Africa, and Nigeria owing to the trend of premiumization of drinks, which has led to increased demand for tonic water.
The covid-19 pandemic negatively impacted the tonic water market as a sale through on-trade distribution channels such as bars & clubs showed a downward trend because of lockdown restrictions in countries across various regions. However, the demand through the off-trade channel including e-commerce platforms witnessed an upward trend as consumers were crafting their cocktails & mocktails at home.
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Increasing sophistication in the taste and preference of consumers is propelling the demand for tonic water. Millennials & Gen Z are shifting to food & beverages that offer a premium experience to them, owing to rising spending capacity and growing attraction towards premium brands. Fever-Tree and Fentimans are the leading players that offer premium tonic water to consumers with herbal infusions.
Mixers are very popular among women in comparison to men across all geographies. Most women like to drink gin or vodka base cocktails, in which the primary mixer used is tonic water. As women are more focused on health & weight management, they prefer diet tonic water as a mixer. Some of the popular cocktails/drinks consumed by women include gin & tonic, spiced tonic, and vodka & tonic.
Regular tonic water accounted for a larger market share of more than 60% in 2021. Regular tonic water has added sugar that makes it a little unhealthy for consumers. Previously, regular tonic water had a slightly lower price than diet tonic water, but as awareness is increasing among consumers about the benefits of drinking diet tonic water, prices of both products have become similar. For instance, Walmart offers both Great Value Tonic Water and Great Value Diet Tonic Water for USD 0.92 per 33.8 fl oz bottle.
The light or diet tonic water is anticipated to witness a higher CAGR of 12.0% from 2022-2030. Light tonic water has been gaining traction among health-conscious consumers, which are regulating their calorie intake. As consumers are switching to the healthier mixer, the demand for low-calorie tonic water is likely to fuel in the coming years. For instance, Fever-Tree offers premium light tonic water that contains only 30 calories per 200 ml bottle. Such product offerings are likely to boost the segment’s growth.
The flavored tonic water is anticipated to witness a higher CAGR of 11.6% from 2022-2030. The key players are adding new & exciting flavors to tonic water owing to rising demand from consumers. Furthermore, increasing focus on research & devolvement for product innovation to stay ahead and connected to the target audience is also expected to boost the market growth. Some of the flavors that are available in tonic water include cucumber, elderflower, lemon, and berries. Moreover, new product launches are expected to boost market growth further. For instance, in May 2022, Gloucestershire Farm launched the organic tonic water in the UK, which is available in flavors- cucumber, wild elderflower, and Damascena rose.
The unflavored tonic water held a larger market share of more than 65% in 2021. The unflavored tonic water has only quinine, which imparts a slightly bitter taste to it. This tonic water is frequently paired with gin and other white spirits like vodka and tequila. It pairs well with juice, cocktails, & mocktails and is an alternative to high-calorie carbonated soft drinks. The increasing popularity of unflavored tonic water in developing countries like India, The Philippines, and Indonesia is expected to boost the segment’s growth.
The off-trade distribution channel held a larger market share of more than 50% in 2021. Most consumers keep tonic water in stock in their pantries like other beverages such as soda & beer, which drives sales through supermarkets & hypermarkets. The availability of a wide range of products under a single roof influences consumers to purchase through these stores. The rising popularity of e-commerce platforms for shopping grocery & other household items is likely to drive the sale of tonic water through e-commerce platforms like Amazon, Blinkit, Dan Murphys. Harris Farm, Instacart, Drizly, and Walmart online.
The on-trade distribution channel is anticipated to grow at a higher CAGR during the forecast period. The cocktail culture among millennials has increased, which is propelling the demand for tonic water for mixing with a wide range of spirits. Furthermore, increasing product offering by bars & pubs is likely to boost demand. Aatxe, Bathtub Gin, The Gin Joint, and Marvel Bar are a few prominent bars in the US that offer specialty cocktails.
Europe led the market with a share of more than 40% in 2021. Gin is widely consumed in European countries such as the UK, Spain, Netherlands, and Ireland, which has driven the demand for tonic water in this region. The rising demand for new flavors has led manufacturers to offer premium new flavors. For instance, in November 2021, Arctic Beverages launched an artisan tonic water. It has been made from Finnish groundwater and is low in calories & sugar. Similarly, in March 2022, Schweppes launched tonic water in 600 ml glass bottles. According to the company, the larger bottle of 600 ml was created in response to an increase in at-home consumption post-pandemic.
Asia Pacific is expected to register the fastest growth during the forecast period owing to increasing demand for cocktails and non-wheat based alcoholic drinks among consumers. Moreover, product launches and distribution expansion in the countries like India and Indonesia is likely to propel the market further. For instance, the PEER tonic water brand expanded in Uttrakhand, Maharashtra, Karnataka, and West Bengal in June 2022. The brand was previously available in Delhi NCR & Punjab across various retail stores.
The tonic water market has a strong presence of leading players including Keurig Dr. Pepper Inc., Fever-Tree, Q MIXERS, and Fentimans. The new players are trying to enter this market with product innovation and flavor enhancement. The companies are focused to offer tonic water with an infusion of aromatic & herbal flavors, owing to increasing consumer demand for such flavors.
Segments Covered in the Report
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Product
4.3.2. Market Attractiveness Analysis by Flavor
4.3.3. Market Attractiveness Analysis by Distribution Channel
4.3.4. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increasing trend of DIY cocktails
5.2.2. Rising consumer focus on low-calorie drinks
5.3. Restraints
5.3.1. The lack of awareness of the health benefits of tonic water
5.4. Opportunities
5.4.1. Rising disposable income
5.4.2. Rapid urbanisation
6. Global Tonic Water Market Analysis and Forecast, By Product
6.1. Segment Overview
6.2. Light/Diet
6.3. Regular
7. Global Tonic Water Market Analysis and Forecast, By Flavor
7.1. Segment Overview
7.2. Flavored
7.3. Unflavored
8. Global Tonic Water Market Analysis and Forecast, By Distribution Channel
8.1. Segment Overview
8.2. Off-Trade
8.2.1. Supermarkets & Hypermarkets
8.2.2. Online
8.2.3. Others
8.3. On-Trade
9. Global Tonic Water Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Tonic Water Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in the Tonic Water Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Product Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. Keurig Dr Pepper Inc.
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. Fever-Tree
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. Fentimans
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. SEPOY & CO.
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. Zevia
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. Q MIXERS
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. East Imperial Beverage Corporation
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. Svami
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. Three Cents
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. Polar Beverages
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Product Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
11.11. StrangeLove
11.11.1. Business Overview
11.11.2. Company Snapshot
11.11.3. Company Market Share Analysis
11.11.4. Company Product Portfolio
11.11.5. Recent Developments
11.11.6. SWOT Analysis
11.12. Fitch & Leedes
11.12.1. Business Overview
11.12.2. Company Snapshot
11.12.3. Company Market Share Analysis
11.12.4. Company Product Portfolio
11.12.5. Recent Developments
11.12.6. SWOT Analysis
11.13. CAPI
11.13.1. Business Overview
11.13.2. Company Snapshot
11.13.3. Company Market Share Analysis
11.13.4. Company Product Portfolio
11.13.5. Recent Developments
11.13.6. SWOT Analysis
11.14. White Rock Beverages
11.14.1. Business Overview
11.14.2. Company Snapshot
11.14.3. Company Market Share Analysis
11.14.4. Company Product Portfolio
11.14.5. Recent Developments
11.14.6. SWOT Analysis
11.15. The Great Gentleman
11.15.1. Business Overview
11.15.2. Company Snapshot
11.15.3. Company Market Share Analysis
11.15.4. Company Product Portfolio
11.15.5. Recent Developments
11.15.6. SWOT Analysis
List of Table
1. Global Tonic Water Market, By Product, 2019-2030 (USD Billion)
2. Global Light/Diet Tonic Water Market, By Region, 2019-2030 (USD Billion)
3. Global Regular Tonic Water Market, By Region, 2019-2030 (USD Billion)
4. Global Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
5. Global Flavored Tonic Water Market, By Region, 2019-2030 (USD Billion)
6. Global Unflavored Tonic Water Market, By Region, 2019-2030 (USD Billion)
7. Global Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
8. Global Off-Trade Tonic Water Market, By Region, 2019-2030 (USD Billion)
9. Global On-Trade Tonic Water Market, By Region, 2019-2030 (USD Billion)
10. Global Tonic Water Market, By Region, 2019-2030 (USD Billion)
11. North America Tonic Water Market, By Product, 2019-2030 (USD Billion)
12. North America Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
13. North America Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
14. U.S. Tonic Water Market, By Product, 2019-2030 (USD Billion)
15. U.S. Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
16. U.S. Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
17. Canada Tonic Water Market, By Product, 2019-2030 (USD Billion)
18. Canada Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
19. Canada Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
20. Mexico Tonic Water Market, By Product, 2019-2030 (USD Billion)
21. Mexico Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
22. Mexico Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
23. Europe Tonic Water Market, By Product, 2019-2030 (USD Billion)
24. Europe Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
25. Europe Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
26. Germany Tonic Water Market, By Product, 2019-2030 (USD Billion)
27. Germany Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
28. Germany Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
29. France Tonic Water Market, By Product, 2019-2030 (USD Billion)
30. France Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
31. France Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
32. U.K. Tonic Water Market, By Product, 2019-2030 (USD Billion)
33. U.K. Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
34. U.K. Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
35. Italy Tonic Water Market, By Product, 2019-2030 (USD Billion)
36. Italy Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
37. Italy Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
38. Spain Tonic Water Market, By Product, 2019-2030 (USD Billion)
39. Spain Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
40. Spain Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
41. Asia Pacific Tonic Water Market, By Product, 2019-2030 (USD Billion)
42. Asia Pacific Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
43. Asia Pacific Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
44. Japan Tonic Water Market, By Product, 2019-2030 (USD Billion)
45. Japan Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
46. Japan Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
47. China Tonic Water Market, By Product, 2019-2030 (USD Billion)
48. China Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
49. China Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
50. India Tonic Water Market, By Product, 2019-2030 (USD Billion)
51. India Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
52. India Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
53. South America Tonic Water Market, By Product, 2019-2030 (USD Billion)
54. South America Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
55. South America Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
56. Brazil Tonic Water Market, By Product, 2019-2030 (USD Billion)
57. Brazil Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
58. Brazil Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
59. Middle East and Africa Tonic Water Market, By Product, 2019-2030 (USD Billion)
60. Middle East and Africa Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
61. Middle East and Africa Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
62. UAE Tonic Water Market, By Product, 2019-2030 (USD Billion)
63. UAE Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
64. UAE Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
65. South Africa Tonic Water Market, By Product, 2019-2030 (USD Billion)
66. South Africa Tonic Water Market, By Flavor, 2019-2030 (USD Billion)
67. South Africa Tonic Water Market, By Distribution Channel, 2019-2030 (USD Billion)
List of Figures
1. Global Tonic Water Market Segmentation
2. Tonic Water Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Tonic Water Market Attractiveness Analysis by Product
9. Global Tonic Water Market Attractiveness Analysis by Flavor
10. Global Tonic Water Market Attractiveness Analysis by Distribution Channel
11. Global Tonic Water Market Attractiveness Analysis by Region
12. Global Tonic Water Market: Dynamics
13. Global Tonic Water Market Share by Product (2022 & 2030)
14. Global Tonic Water Market Share by Flavor (2022 & 2030)
15. Global Tonic Water Market Share by Distribution Channel (2022 & 2030)
16. Global Tonic Water Market Share by Regions (2022 & 2030)
17. Global Tonic Water Market Share by Company (2021)
Segments Covered in the Report
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The data procurement stage involves in data gathering and collecting through various data sources.
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