Market Research Future Insights
According to MRFR analysis, the global Tonic Water market is expected to register a CAGR of ~7.11% from 2022 to 2030 and hold a value of over USD 3.73 Billion by 2030.
Tonic water was first used for its capacity to both prevent and treat malaria. The active component is an alkaloid found in the cinchona bark peel that is used to cure a variety of diseases. Furthermore, the tonic water's quinine content is regarded to be effective in the treatment of muscular cramps. Although most tonic water now contains less quinine than pharmaceutical formulations and is sweetened to mask the strong sour aftertaste, it is still consumed for its flavor rather than its medical qualities. Another element fueling this increase is the use of tonic water in margaritas as a drink enhancer and for alleviating dehydration due to its strong taste. The COVID-19 outbreak had a severe impact on the forecast for the tonic water business. Clubs, cafés, pubs, and breweries are closed due to the lockdown, and customer visits are strictly banned. Buyers stocked up on beverages during the shutdown's early stages, lessening the impact on off-trade transactions. The lockout has given a fantastic opportunity for e-commerce channels due to societal estrangement.
Regional Analysis
The North American tonic water market was subdivided further into Canada, the United States, and Mexico. Drink mixers such as tonic water are growing more popular in Europe, which explains the region's market dominance in this category. According to stories, British leaders serving in the Indian Army were once given tonic water to cure malaria.
Market Segmentation
The global Tonic Water market has been segmented by application and end-users.
Based on application, the market has been segmented into bottles and cans.
Based on end-users, the market has been segmented as store-based and non-store-based.
Key Players
Some of the key tonic water market players are Fever-Tree, Dr. Pepper Snapple Group, SodaStream International Ltd, A.S. Watson Group, Fentimans, Seagram Company Ltd, White Rock Beverages, Hansen Beverage Company Inc, Stirrings, and East Imperial.
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