LONDON--(BUSINESS WIRE)--The global tonic water market size is expected to grow by USD 543.32 million as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 6%.
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Tonic water market is driven by the rise in product launches. In addition, the increasing consumption of gin is anticipated to boost the growth of the tonic water market.
Vendors are increasingly focusing on boosting their market share and revenue through successful new product launches. For instance, the Fever-Tree launched its Pink Aromatic Tonic in the US market. Similarly, Percival & Co. launched an alcoholic elderflower tonic water in the US. The introduction of such new products in the market draws the attention of new customers and retains the interest of existing customers. Thus, the rise in product launches is expected to drive market growth during the forecast period.
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Major Five Tonic Water Companies:
Asahi Group Holdings Ltd.
Asahi Group Holdings Ltd. has business operations under four segments: alcohol beverages, soft drinks, food, and overseas. The company offers tonic water through its Wilkinson brand.
Britvic Plc operates its business through various segments such as GB stills, GB carbs, Ireland, France, Brazil, and International. The company offers Tonic Water and Low Calorie Tonic Water.
Fentimans Ltd. offers soft drinks, mixers, and hollows and fentimans. The company offers various tonic water flavors such as Connoisseurs tonic water, light tonic water, pink grapefruit tonic water, Valencian orange tonic water, and others.
Fevertree Drinks Plc
Fevertree Drinks Plc offers tonic water in different flavors such as Clementine Tonic Water, Premium Indian Tonic Water, Refreshingly Light Indian Tonic Water, Mediterranean Tonic Water, Elderflower Tonic Water, Aromatic Tonic Water, Lemon Tonic Water, and Refreshingly Light Cucumber Tonic Water.
Franklin & Sons Ltd.
Franklin & Sons Ltd. offers various types of tonic water in different flavours. The company's product offerings include Natural Indian Tonic Water, Natural Light Tonic Water, Mallorcan Tonic, and Sicilian Lemon Tonic.
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Tonic Water Market Application Outlook (Revenue, USD mn, 2020-2024)
- Alcohol drinks mixer - size and forecast 2019-2024
- Direct consumption - size and forecast 2019-2024
Tonic Water Market Regional Outlook (Revenue, USD mn, 2020-2024)
- North America - size and forecast 2019-2024
- Europe - size and forecast 2019-2024
- APAC - size and forecast 2019-2024
- South America - size and forecast 2019-2024
- MEA - size and forecast 2019-2024
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