Tonic Water Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Plain and Flavored), Category (Low/No Sugar and Regular), End User (On-Trade and Off-Trade), and Geography

List of Tables

The tonic water market size is projected to reach US$ 2.01 billion in 2023 to US$ 3.47 billion by 2031; it is estimated to register a CAGR of 7.1% from 2023 to 2031.

Tonic water is a carbonated soft drink, majorly used as a mixer or base with gin, vodka, and other spirits. It is available in a wide range of flavors such as wild berry, elderflower, and bitter lemon. With the changing lifestyles of people and increasing preference for premium drinks, the demand for tonic water is increasing significantly across the US, India, Japan, Australia, the UK, Spain, and Italy, among other developed and developing countries. People in these countries prefer exploring new experiences and tastes, which bolsters the demand for tonic water. Moreover, the increasing trend of cocktail culture and night parties among Gen Z and the millennial population also results in a surged demand for tonic water.

Changing consumer preferences and tastes have been driving the demand for gin across the world. With people exploring and indulging in the diverse flavors of gin, the requirement for complementary mixers to enhance their drinking experience also surges. Tonic water, with its bitter yet refreshing taste, serves as a perfect companion to gin. Thus, a surge in gin's popularity has led to a corresponding rise in the consumption of tonic water. Further, craft gin is gaining significant popularity across the world. As gin enthusiasts become more discerning of the flavor profiles of their spirits, they seek high-quality mixers to elevate their cocktails. Artisanal and small-batch brands have started focusing on catering to the demand for premium tonic water, offering a wide range of botanical-infused and flavored tonic water that complements the nuanced characteristics of craft gin. Moreover, consumers are willing to pay premium prices for superior products that enhance their drinking experience.

Based on type, the tonic water market is divided into plain and flavored. The flavored segment held a larger share of the market in 2023. Flavored tonic water consists of carbonated water, sugar/sweetener, quinine, and different flavoring ingredients such as extracts of elderflower, citrus peels, herbs, berries, lemongrass, and hibiscus that enhance the flavor and aroma of tonic water. Consumers prefer premium flavored tonic water in their drinks. They are also willing to pay higher prices for such products to experiment with newer varieties of gins and cocktails. Therefore, manufacturers develop new flavored tonic water varieties that meet the changing taste preferences of consumers.

A few players operating in the tonic water market include The Coca-Cola Co, Fevertree Drinks Plc, Three Cents Co, Thomas Henry GmbH, Q Tonic LLC, East Imperial Beverage Corp, Fentimans Ltd, Britvic Plc, Bickford & Sons Ltd, White Rock Beverages Ltd and among others. Players operating in the tonic water market focus on providing innovative and healthy products at affordable prices to fulfill customer demand.

The overall tonic water market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the tonic water market.

Product Code: TIPRE00004542

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Market Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. Tonic Water Market Landscape

4.1 Market Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturers
- 4.3.3 Distributors/Suppliers
- 4.3.4 End Users
4.4 List of Vendors

5. Tonic Water Market - Key Market Dynamics

5.1 Tonic Water Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Increasing Demand for Gin
- 5.2.2 Innovations in Flavors
5.3 Market Restraints
- 5.3.1 Availability of Substitutes
5.4 Market Opportunities
- 5.4.1 Proliferation of E-Commerce
5.5 Future Trends
- 5.5.1 Preference for Low-Sugar Tonic Water
5.6 Impact of Drivers and Restraints:

6. Tonic Water Market - Global Market Analysis

6.1 Tonic Water Market Revenue (US$ Million), 2021-2031
6.2 Tonic Water Market Forecast Analysis

7. Tonic Water Market Analysis - by Type

7.1 Plain
- 7.1.1 Overview
- 7.1.2 Plain: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Flavored
- 7.2.1 Overview
- 7.2.2 Flavored: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)

8. Tonic Water Market Analysis - by Category

8.1 Low/No Sugar
- 8.1.1 Overview
- 8.1.2 Low/No Sugar: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Regular
- 8.2.1 Overview
- 8.2.2 Regular: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)

9. Tonic Water Market Analysis - by End User

9.1 On-Trade
- 9.1.1 Overview
- 9.1.2 On-Trade: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Off-Trade
- 9.2.1 Overview
- 9.2.2 Off-Trade: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)

10. Tonic Water Market - Geographical Analysis

10.1 Overview
10.2 North America
- 10.2.1 North America Tonic Water Market Overview
- 10.2.2 North America: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
- 10.2.3 North America: Tonic Water Market Breakdown, by Type
  - 10.2.3.1 North America: Tonic Water Market - Revenue and Forecast Analysis - by Type
- 10.2.4 North America: Tonic Water Market Breakdown, by Category
  - 10.2.4.1 North America: Tonic Water Market - Revenue and Forecast Analysis - by Category
- 10.2.5 North America: Tonic Water Market Breakdown, by End User
  - 10.2.5.1 North America: Tonic Water Market - Revenue and Forecast Analysis - by End User
- 10.2.6 North America: Tonic Water Market - Revenue and Forecast Analysis - by Country
  - 10.2.6.1 North America: Tonic Water Market - Revenue and Forecast Analysis - by Country
  - 10.2.6.2 United States: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.2.6.2.1 United States: Tonic Water Market Breakdown, by Type
    - 10.2.6.2.2 United States: Tonic Water Market Breakdown, by Category
    - 10.2.6.2.3 United States: Tonic Water Market Breakdown, by End User
  - 10.2.6.3 Canada: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.2.6.3.1 Canada: Tonic Water Market Breakdown, by Type
    - 10.2.6.3.2 Canada: Tonic Water Market Breakdown, by Category
    - 10.2.6.3.3 Canada: Tonic Water Market Breakdown, by End User
  - 10.2.6.4 Mexico: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.2.6.4.1 Mexico: Tonic Water Market Breakdown, by Type
    - 10.2.6.4.2 Mexico: Tonic Water Market Breakdown, by Category
    - 10.2.6.4.3 Mexico: Tonic Water Market Breakdown, by End User
10.3 Europe
- 10.3.1 Europe Tonic Water Market Overview
- 10.3.2 Europe: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
- 10.3.3 Europe: Tonic Water Market Breakdown, by Type
  - 10.3.3.1 Europe: Tonic Water Market - Revenue and Forecast Analysis - by Type
- 10.3.4 Europe: Tonic Water Market Breakdown, by Category
  - 10.3.4.1 Europe: Tonic Water Market - Revenue and Forecast Analysis - by Category
- 10.3.5 Europe: Tonic Water Market Breakdown, by End User
  - 10.3.5.1 Europe: Tonic Water Market - Revenue and Forecast Analysis - by End User
- 10.3.6 Europe: Tonic Water Market - Revenue and Forecast Analysis - by Country
  - 10.3.6.1 Europe: Tonic Water Market - Revenue and Forecast Analysis - by Country
  - 10.3.6.2 Germany: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.2.1 Germany: Tonic Water Market Breakdown, by Type
    - 10.3.6.2.2 Germany: Tonic Water Market Breakdown, by Category
    - 10.3.6.2.3 Germany: Tonic Water Market Breakdown, by End User
  - 10.3.6.3 France: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.3.1 France: Tonic Water Market Breakdown, by Type
    - 10.3.6.3.2 France: Tonic Water Market Breakdown, by Category
    - 10.3.6.3.3 France: Tonic Water Market Breakdown, by End User
  - 10.3.6.4 Italy: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.4.1 Italy: Tonic Water Market Breakdown, by Type
    - 10.3.6.4.2 Italy: Tonic Water Market Breakdown, by Category
    - 10.3.6.4.3 Italy: Tonic Water Market Breakdown, by End User
  - 10.3.6.5 United Kingdom: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.5.1 United Kingdom: Tonic Water Market Breakdown, by Type
    - 10.3.6.5.2 United Kingdom: Tonic Water Market Breakdown, by Category
    - 10.3.6.5.3 United Kingdom: Tonic Water Market Breakdown, by End User
  - 10.3.6.6 Spain: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.6.1 Spain: Tonic Water Market Breakdown, by Type
    - 10.3.6.6.2 Spain: Tonic Water Market Breakdown, by Category
    - 10.3.6.6.3 Spain: Tonic Water Market Breakdown, by End User
  - 10.3.6.7 Sweden: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.7.1 Sweden: Tonic Water Market Breakdown, by Type
    - 10.3.6.7.2 Sweden: Tonic Water Market Breakdown, by Category
    - 10.3.6.7.3 Sweden: Tonic Water Market Breakdown, by End User
  - 10.3.6.8 Netherlands: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.8.1 Netherlands: Tonic Water Market Breakdown, by Type
    - 10.3.6.8.2 Netherlands: Tonic Water Market Breakdown, by Category
    - 10.3.6.8.3 Netherlands: Tonic Water Market Breakdown, by End User
  - 10.3.6.9 Rest of Europe: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.3.6.9.1 Rest of Europe: Tonic Water Market Breakdown, by Type
    - 10.3.6.9.2 Rest of Europe: Tonic Water Market Breakdown, by Category
    - 10.3.6.9.3 Rest of Europe: Tonic Water Market Breakdown, by End User
10.4 Asia Pacific
- 10.4.1 Asia Pacific Tonic Water Market Overview
- 10.4.2 Asia Pacific: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
- 10.4.3 Asia Pacific: Tonic Water Market Breakdown, by Type
  - 10.4.3.1 Asia Pacific: Tonic Water Market - Revenue and Forecast Analysis - by Type
- 10.4.4 Asia Pacific: Tonic Water Market Breakdown, by Category
  - 10.4.4.1 Asia Pacific: Tonic Water Market - Revenue and Forecast Analysis - by Category
- 10.4.5 Asia Pacific: Tonic Water Market Breakdown, by End User
  - 10.4.5.1 Asia Pacific: Tonic Water Market - Revenue and Forecast Analysis - by End User
- 10.4.6 Asia Pacific: Tonic Water Market - Revenue and Forecast Analysis - by Country
  - 10.4.6.1 Asia Pacific: Tonic Water Market - Revenue and Forecast Analysis - by Country
  - 10.4.6.2 China: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.4.6.2.1 China: Tonic Water Market Breakdown, by Type
    - 10.4.6.2.2 China: Tonic Water Market Breakdown, by Category
    - 10.4.6.2.3 China: Tonic Water Market Breakdown, by End User
  - 10.4.6.3 Japan: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.4.6.3.1 Japan: Tonic Water Market Breakdown, by Type
    - 10.4.6.3.2 Japan: Tonic Water Market Breakdown, by Category
    - 10.4.6.3.3 Japan: Tonic Water Market Breakdown, by End User
  - 10.4.6.4 India: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.4.6.4.1 India: Tonic Water Market Breakdown, by Type
    - 10.4.6.4.2 India: Tonic Water Market Breakdown, by Category
    - 10.4.6.4.3 India: Tonic Water Market Breakdown, by End User
  - 10.4.6.5 Australia: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.4.6.5.1 Australia: Tonic Water Market Breakdown, by Type
    - 10.4.6.5.2 Australia: Tonic Water Market Breakdown, by Category
    - 10.4.6.5.3 Australia: Tonic Water Market Breakdown, by End User
  - 10.4.6.6 South Korea: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.4.6.6.1 South Korea: Tonic Water Market Breakdown, by Type
    - 10.4.6.6.2 South Korea: Tonic Water Market Breakdown, by Category
    - 10.4.6.6.3 South Korea: Tonic Water Market Breakdown, by End User
  - 10.4.6.7 Rest of Asia Pacific: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.4.6.7.1 Rest of Asia Pacific: Tonic Water Market Breakdown, by Type
    - 10.4.6.7.2 Rest of Asia Pacific: Tonic Water Market Breakdown, by Category
    - 10.4.6.7.3 Rest of Asia Pacific: Tonic Water Market Breakdown, by End User
10.5 Middle East and Africa
- 10.5.1 Middle East and Africa Tonic Water Market Overview
- 10.5.2 Middle East and Africa: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
- 10.5.3 Middle East and Africa: Tonic Water Market Breakdown, by Type
  - 10.5.3.1 Middle East and Africa: Tonic Water Market - Revenue and Forecast Analysis - by Type
- 10.5.4 Middle East and Africa: Tonic Water Market Breakdown, by Category
  - 10.5.4.1 Middle East and Africa: Tonic Water Market - Revenue and Forecast Analysis - by Category
- 10.5.5 Middle East and Africa: Tonic Water Market Breakdown, by End User
  - 10.5.5.1 Middle East and Africa: Tonic Water Market - Revenue and Forecast Analysis - by End User
- 10.5.6 Middle East and Africa: Tonic Water Market - Revenue and Forecast Analysis - by Country
  - 10.5.6.1 Middle East and Africa: Tonic Water Market - Revenue and Forecast Analysis - by Country
  - 10.5.6.2 South Africa: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.5.6.2.1 South Africa: Tonic Water Market Breakdown, by Type
    - 10.5.6.2.2 South Africa: Tonic Water Market Breakdown, by Category
    - 10.5.6.2.3 South Africa: Tonic Water Market Breakdown, by End User
  - 10.5.6.3 Saudi Arabia: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.5.6.3.1 Saudi Arabia: Tonic Water Market Breakdown, by Type
    - 10.5.6.3.2 Saudi Arabia: Tonic Water Market Breakdown, by Category
    - 10.5.6.3.3 Saudi Arabia: Tonic Water Market Breakdown, by End User
  - 10.5.6.4 United Arab Emirates: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.5.6.4.1 United Arab Emirates: Tonic Water Market Breakdown, by Type
    - 10.5.6.4.2 United Arab Emirates: Tonic Water Market Breakdown, by Category
    - 10.5.6.4.3 United Arab Emirates: Tonic Water Market Breakdown, by End User
  - 10.5.6.5 Rest of Middle East and Africa: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.5.6.5.1 Rest of Middle East and Africa: Tonic Water Market Breakdown, by Type
    - 10.5.6.5.2 Rest of Middle East and Africa: Tonic Water Market Breakdown, by Category
    - 10.5.6.5.3 Rest of Middle East and Africa: Tonic Water Market Breakdown, by End User
10.6 South and Central America
- 10.6.1 South and Central America Tonic Water Market Overview
- 10.6.2 South and Central America: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
- 10.6.3 South and Central America: Tonic Water Market Breakdown, by Type
  - 10.6.3.1 South and Central America: Tonic Water Market - Revenue and Forecast Analysis - by Type
- 10.6.4 South and Central America: Tonic Water Market Breakdown, by Category
  - 10.6.4.1 South and Central America: Tonic Water Market - Revenue and Forecast Analysis - by Category
- 10.6.5 South and Central America: Tonic Water Market Breakdown, by End User
  - 10.6.5.1 South and Central America: Tonic Water Market - Revenue and Forecast Analysis - by End User
- 10.6.6 South and Central America: Tonic Water Market - Revenue and Forecast Analysis - by Country
  - 10.6.6.1 South and Central America: Tonic Water Market - Revenue and Forecast Analysis - by Country
  - 10.6.6.2 Brazil: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.6.6.2.1 Brazil: Tonic Water Market Breakdown, by Type
    - 10.6.6.2.2 Brazil: Tonic Water Market Breakdown, by Category
    - 10.6.6.2.3 Brazil: Tonic Water Market Breakdown, by End User
  - 10.6.6.3 Argentina: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.6.6.3.1 Argentina: Tonic Water Market Breakdown, by Type
    - 10.6.6.3.2 Argentina: Tonic Water Market Breakdown, by Category
    - 10.6.6.3.3 Argentina: Tonic Water Market Breakdown, by End User
  - 10.6.6.4 Chile: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.6.6.4.1 Chile: Tonic Water Market Breakdown, by Type
    - 10.6.6.4.2 Chile: Tonic Water Market Breakdown, by Category
    - 10.6.6.4.3 Chile: Tonic Water Market Breakdown, by End User
  - 10.6.6.5 Rest of South and Central America: Tonic Water Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.6.6.5.1 Rest of South and Central America: Tonic Water Market Breakdown, by Type
    - 10.6.6.5.2 Rest of South and Central America: Tonic Water Market Breakdown, by Category
    - 10.6.6.5.3 Rest of South and Central America: Tonic Water Market Breakdown, by End User

11. Competitive Landscape

11.1 Heat Map Analysis
11.2 Company Positioning and Concentration

12. Tonic Water Market Industry Landscape

12.1 Overview
12.2 Mergers And Acquisitions
12.3 Agreements, Collaborations, And Joint Ventures
12.4 New Product Launches
12.5 Expansions And Other Strategic Developments

13. Company Profiles

13.1 The Coca-Cola Co
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Fevertree Drinks Plc
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Three Cents Co
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Thomas Henry GmbH
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Q Tonic LLC
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 East Imperial Beverage Corp
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Fentimans Ltd
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Britvic Plc
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Bickford & Sons Ltd
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 White Rock Beverages Ltd
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners