Kenneth Research has released a report titled “TonicWater Market: Global Demand Analysis& Opportunity Outlook 2031” which also includes some of theprominent market analyzing parameters such as industry growth drivers,restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
In theyear 2020, the consumption ofpackaged water, alcoholic beverages, carbonates soft drinks (CSD), and fruit& vegetable juices reached close to 440 Billion Liters, 240 Billion Liters, 200 Billion Liters, and 85 Billion Liters respectively.
Thestatistics portray the growing consumption of different types of packagedbeverages worldwide. This, as a result, has raised the need amongst the beverage manufacturers to expand their existing product portfolio and add more beverages that taste and smell different. Tonicwater, which is a type of carbonated soft drink, is rich with the flavor of quinine, and is mixed widely with other non-alcoholic and alcoholic beverages. Commonly known as the Indian tonic water, the soft beverage is also used as a prophylactic against malaria disease. Such factors are therefore anticipated to drive the growth of the global tonic water market in the coming years.
The global tonic water market is anticipatedto grow with a CAGR of 8.4% over the forecast period, i.e., 2022 – 2031. Themarket is estimated to garner a volume of 1036.5 Million Liters by the end of 2031. Additionally, in the year 2021, the market generated a volume of 466.2 Million Liters. The market is segmented by distribution channel into online, and offline stores, out of which, the offline stores segment is projected to garner the highest market share and also the largest revenue by the end of 2031.
By region, the global tonic water market is segmentedinto Europe, Middle East & Africa (EMEA), Asia Pacific, United States,South America, and the Rest of the World, out of which, the market in the EMEA region is projected to attain the largest volume of 442.6 Million Liters by the end of 2031. Moreover, the market in the region generated a volume of 198.7 Million Liters in the year 2021.
However, theavailability of low-cost alternatives, along with the lack of awarenessregarding the product in several nations are some of the major factors predicted to hinder the market growth in the coming years.
This report also provides the existingcompetitive scenario of some of the key players of the global tonic water market, which includescompany profiling of Fevertree Limited, Keurig Dr Pepper, Inc., Fresh& Wild Limited (Whole Foods Market), White Rock Products Corporation,Fentimans Ltd, EAST IMPERIAL BEVERAGES CORPORATION, Luscombe Drinks Limited, Q Tonic, LLC, Franklin & Sons Ltd, and others.
Theprofiling enfolds key information of the companies which comprises of businessoverview, products and services, key financials and recent news and developments. Conclusively, the report titled “Tonic Water Market: Global Demand Analysis &Opportunity Outlook 2031”, analyses the overall global tonic water industry to help new entrants to understandthe details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global tonicwater market in the near future.
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