Cibi e Bevande
Tonic Wine Market to Reach $3.13 Bn, Globally, by 2030 at 5.8% CAGR: Allied Market Research
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.
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.
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.
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.
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