Tonic Water Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Tonic Water Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global tonic water market size reached US$ 800.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,187.2 Million by 2028, exhibiting a growth rate (CAGR) of 6.79% during 2022-2028.

Tonic water, also known as Indian tonic water, is a carbonated beverage originally consumed as a prophylactic drink against malaria. It is derived from the bark of the cinchona tree and contains low amounts of quinine to increase its palatability. It is served with gin and different cocktails and included in numerous jello shot recipes to make the shot fluorescent. With the rising young population and the growing socializing trend, there is a rise in bars, pubs and breweries that serve alcoholic beverages. This is driving the demand for tonic water across the globe.

Tonic Water Market Trends:
The resurgence of the cocktail trend represents one of the key factors positively influencing the utilization of tonic water worldwide. In addition to this, consumers have developed a taste for premium spirits and are consequently willing to spend on innovative products that offer a distinct character. Therefore, several market players are focusing on the introduction of unique product variants with added flavors. They are also launching diet tonic water with less sugar content to suit the taste and preferences of health-conscious consumers. Apart from this, there is a rise in the sales of tonic water online on account of the implementation of lockdown in numerous countries and the adoption of social distancing measures on account of the outbreak of coronavirus disease (COVID-19). It can also be accredited to the increasing number of hypermarkets, supermarkets, and convenience stores giants that have expanded their business in the e-commerce sector due to the increasing penetration of the internet and boosting sales of smartphones. Furthermore, socioeconomic factors like inflating income levels, rising middle-class population and rapid urbanization are also strengthening the growth of the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global tonic water market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on flavor, packaging form and distribution channel.

Breakup by Flavor:

Plain Tonic Water
Flavored Tonic Water

Breakup by Packaging Form:

Bottles
Cans

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Convenience Stores
Online Stores
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bradley's Tonic Co., East Imperial Beverage Corporation, El Guapo Bitters, Fentimans Ltd, Fevertree Drinks plc, Franklin & Sons Ltd, Keurig Dr Pepper Inc., Q Tonic LLC, The Coca-Cola Company, The London Essence Company, White Rock Products Corporation and Zevia.

Key Questions Answered in This Report
1. What was the size of the global tonic water market in 2022?
2. What is the expected growth rate of the global tonic water market during 2023-2028?
3. What has been the impact of COVID-19 on the global tonic water market?
4. What are the key factors driving the global tonic water market?
5. What is the breakup of the global tonic water market based on flavor?
6. What is the breakup of the global tonic water market based on the packaging form?
7. What is the breakup of the global tonic water market based on distribution channel?
8. What are the key regions in the global tonic water market?
9. Who are the key players/companies in the global tonic water market?