Newark, Nov. 13, 2022 (GLOBE NEWSWIRE) -- According to The Brainy Insights, the tonic water market is growing at a CAGR of 10.8% from 2022-2030. The market is driven by the reinvention of gin among millennials and Gen Z, which has led to increased consumption of tonic water. Gin is made out of juniper berries, which is rich in antioxidant and hence is gaining attraction among the young generation. Moreover, one peg of gin contains fewer calories than other spirits, which has made it popular in recent years.
The rising popularity of mixers to enhance the taste and flavor of spirits like rum, whisky, vodka, tequila, and gin is expected to boost the consumption of tonic water. Furthermore, the availability of tonic water in different flavors such as lemon, lime, berries, elderflower, and lemongrass is likely to propel its demand further as consumers are seeking aromatic & herbal infusions in their drinks.
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The rising social gatherings post-pandemic is also anticipated to boost the demand for various mixers including tonic water. As consumers are seeking low-calorie food & beverages, the demand for light/diet tonic water is expected to see a rapid increase in the coming years, especially in North America & Europe.
Tonic water is mostly purchased through off-trade distribution channels like Walmart, Target, Tesco, and online channels like Amazon, Dan Murphy, and Instacart. Tonic water acts as an alternative to cola and hence is widely used in mocktails as well. The increasing at-home drinking patterns among consumers have led to the purchase of tonic water through off-trade channels.
The key players in this market are investing in research & development to innovate and introduce new products in the market. For instance, in March 2022, Fever-Tree introduced two new flavors of tonic water Raspberry & Rhubarb in Spain. According to the company, it is an ideal mixer for strawberry gins and vodka.
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Key Players
1. Keurig Dr Pepper Inc.
2. Fever-Tree
3. Fentimans
4. SEPOY & CO.
5. Zevia
6. Q MIXERS
7. EAST IMPERIAL BEVERAGE CORPORATION
8. Svami
9. THREE CENTS
10. Polar Beverages
11. StrangeLove
12. Fitch & Leedes
13. CAPI
14. White Rock Beverages
15. The Great Gentleman
Market Segmentation
• Product Insights
o Light/Diet
o Regular
• Flavor Insights
o Flavored
o Unflavored
• Distribution Channel Insights
o Off-trade
Supermarkets & Hypermarkets
Online
Others
o On-trade
Regional Insights
o North America
US
Canada
Mexico
o Europe
Germany
UK
France
Spain
Netherlands
Ireland
o Asia Pacific
China
India
Japan
South Korea
Australia
New Zealand
o Central & South America
Brazil
o Middle East & Africa
South Africa
UAE
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About the report:
The global Tonic water market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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