The tonic wine market is projected to grow significantly, driven by premiumization, rising on-premise consumption
The tonic wine market is poised for substantial growth, with premiumization and innovative packaging playing key roles.”— Allied Market Research
WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, July 25, 2024 /EINPresswire.com/ — “Tonic Wine Market by Product Type (Magnum, Buckfast, Sanatogen, and Mandingo), Distribution Type (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, and Online stores), and Application (Household and Food services): Global Opportunity Analysis and Industry Forecast 2021–2030.” According to the report, the global tonic wine industry was estimated at $1.78 billion in 2020, and is anticipated to hit $3.13 billion by 2030, registering a CAGR of 5.8% from 2021 to 2030.
📍𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/14422
📍𝐃𝐫𝐢𝐯𝐞𝐫𝐬, 𝐫𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬, 𝐚𝐧𝐝 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬
Increase in use of lucrative packaging, premiumization of tonic wine, and rise in on-premise consumption fuel the growth of the global tonic wine market. On the other hand, presence of alternative products impede the growth to some extent. However, emergence of organic & biodynamic products are expected to create lucrative opportunities in the industry.
📍𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐬𝐜𝐞𝐧𝐚𝐫𝐢𝐨
Travelling restrictions imposed by governments affected the export and import of raw materials used for making tonic wine, thereby impacting the global tonic wine market negatively.
Also, closure of restaurants, bars, supermarkets, and chocolate specialty stores hampered the market growth, especially during the initial phase. However, as the global situation is getting better, the market is expected to recoup soon.
📍𝐓𝐡𝐞 𝐛𝐮𝐜𝐤𝐟𝐚𝐬𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐛𝐲 𝟐𝟎𝟑𝟎
Based on product type, the buckfast segment held the major share in 2020, accounting for around half of the global tonic wine market. This is due to the fact that in the UK and Ireland, the buckfast tonic wine has gained momentum among working classes, students, and bohemian populations. At the same time, the sanatogen segment would register the fastest CAGR of 6.3% from 2021 to 2030, due to its nutrient-rich properties.
📍𝐓𝐡𝐞 𝐬𝐩𝐞𝐜𝐢𝐚𝐥𝐭𝐲 𝐬𝐭𝐨𝐫𝐞𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐭𝐡𝐞 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐭 𝐬𝐡𝐚𝐫𝐞
Based on distribution channel, the specialty stores segment contributed to around two-fifths of the global tonic wine market revenue in 2020, and is projected to lead the trail throughout the forecast period. This is attributed to the fact that specialty stores provide high service quality and detailed product specification & expert guidance to the consumers However, the online stores segment is projected to grow at the fastest CAGR of 6.8% from 2021 to 2030. Easy accessibility of products and heavy discounts & offers provided by these online platforms boost their adoption in the tonic wine market.
📍𝐄𝐮𝐫𝐨𝐩𝐞, 𝐟𝐨𝐥𝐥𝐨𝐰𝐞𝐝 𝐛𝐲 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚, 𝐠𝐚𝐫𝐧𝐞𝐫𝐞𝐝 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟎
Based on region, the market across Europe contributed to the highest share in 2020, accounting for around half of the global tonic wine market, due to demographic growth of the young-adult population and rich economy. Simultaneously, North America is expected to showcase the fastest CAGR of 7.2% during the forecast period. This is because the disposable income and purchasing power of the consumers is high in this region.
📍𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐚𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/14422
📍𝐊𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲
► Crabbie’s
► Stone’s
► Lindisfarne
► Mella
► Frederiksdal
► Sanatogen
📝 𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
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