Latest News- Tonic Water Market: Alcohol drinks mixer is expected to lead the Application segment during 2024-2028

The Tonic Water Market is being driven by Rise in product launches

The Tonic Water Market is expected to grow at a CAGR of 6.36% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 627.6 million. The gin market's growth trajectory is positively influenced by the rising consumption trend, with annual value sales increasing by over 50% in 2021. The primary use of tonic water is as a mixer for gin cocktails, making it an essential component in the gin industry's growth. The gin sector in the UK has experienced significant growth since 2008, with historical links to women in the UK, often referred to as "mother's ruin." This trend, coupled with the global increase in gin consumption, will undoubtedly fuel the demand for tonic water in the foreseeable future. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Alcohol drinks mixer
  • Direct consumption
• Geography
  • North America
    • Canada
    • US
  • Europe
    • UK
    • Spain
  • APAC
    • China
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in product launches
• Increasing product innovations
• Growth in packaging innovations

However, the market also witnesses some limitations, which are as follows:

• Health issues associated with consumption of quinine
• Easy availability of counterfeit products
• Implementation of sugar tax

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Market Scope in Tonic Water Market Research Report

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Research Analysis Overview

The Tonic Water market encompasses alcoholic beverages infused with quinine, a compound once used for malaria treatment and now popular in cocktails, especially those featuring gin and vodka. Young demographics, including millennials and working professionals, seek out tonic water for its health-conscious image, with some opting for non-alcoholic versions or those fortified with vitamins and minerals. Convenience stores and online sales dominate distribution channels. Domestic players compete with international brands like Malfy Gin and Sunset Tonic, offering various flavors and health benefits, while some tonic waters contain corn syrup or high fructose sugar, sparking debates over health implications. Leg cramps and other health issues associated with quinine remain a concern for some consumers.

Market Research Overview

The global soft drinks and non-alcoholic beverages market encompasses sectors like carbonated beverages, juices and concentrates, bottled water, functional beverages, sports drinks, and others. According to Technavio, the market's size is determined by the consolidated revenues of soft drinks and non-alcoholic beverages' manufacturers, excluding sales from dispensing equipment. Key growth drivers include innovation and new product launches. This trend is particularly evident in the tonic water segment, where the addition of flavors and botanicals caters to millennial preferences for premium, mixer-based cocktails, such as gin and tonic and vodka tonic. Quinine's role in tonic water's unique taste and its historical association with malaria treatment further adds to the market's intrigue.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/