Quinine Market Size to Touch US$3.2 Billion by 2030, Health Trends and Beverage Boom Provide Tailwinds
Technological Advancements, Diverse Applications, and Regional Nuances will Foster Sustained Growth of the Global Quinine Market. Fairfield Market Research Indicates a Promising Trajectory for the Market in the Light of the Evolving Health-centric and Indulgent Beverage Choices by Consumers.
London, Jan. 30, 2024 (GLOBE NEWSWIRE) — The global quinine market is set to experience substantial growth, with a projected valuation of US$3.2 Bn by 2030, up from US$2.1 Bn achieved in 2022. A comprehensive market report of Fairfield Market Research reveals the driving factors, dominant trends, and lucrative opportunities shaping the future of the quinine industry.
The market will witness a remarkable CAGR of 6.5% from 2023 to 2030. The major growth determinants include the escalating demand for tonic water driven by health-conscious consumers, a surge in malaria cases, and an uptick in alcoholic beverage consumption.
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|2023 – 2030
|Market Size in 2022
|Estimated Market Size in 2030
|Haihang Industry Co. Ltd., Vital Labs, Actavis, Aecochem Corp, Shreeji Pharma International, Hangzhou Dayang Co. Ltd., Wockhardt, Leocorno Enterprises, Trademax Pharmaceuticals & Chemicals, Van Wankum Ingredients, IS Chemical Technology Ltd., Chempro Pharma Private Limited, Fever-Tree, Bickford & Sons, Schweppes
The report highlights the dominance of the 200mg quinine category, particularly in treating leg cramps. Intramuscular administration and hospital usage are on the rise. North America holds the largest market share due to the prevalence of malaria, while Asia Pacific sees expansion driven by rising patient preference for quinine derivatives.
The quinine market’s impressive growth is a reflection of dynamic consumer preferences and health-conscious choices. Ongoing product innovations, the expanding cocktail culture, and an escalating number of malaria cases are constantly reshaping the landscape.
The company analyst says, “As consumers’ disposable incomes rise globally, the market is set to capitalise on the growing demand for both health-centric and indulgent beverage choices. The intersection of medicinal properties with the beverage industry positions quinine as a versatile and sought-after component, promising sustained growth in the coming years”.
Key Research Insights
- Quinine finds noteworthy application in treating problematic leg cramps, the 200mg dosage takes precedence over the 300mg counterpart.
- Preferred usage leans towards intramuscular administration, hospitals take the lead in generating demand.
- The quinine market in North America commands the highest revenue share.
Insights into Segmentation Analysis
200mg Dose Leads the Pack, 300mg Emerges Attractive
The 200mg quinine dose category triumphs, notably under D Quinine Sulphate that stole the limelight in 2022. Recognised for its efficacy in treating malaria, this dose, produced by pharmaceutical giants like Novartis AG, and GlaxoSmithKline Pharmaceuticals, held 1% of the active component.
On the other hand, the 300mg category, projecting the fastest growth, serves both as a malaria treatment and preventative measure against expectant mothers’ and children’s malaria risk.
Leg Cramps Take the Centre Stage
In 2022, the industry spotlight shone on the treatment of problematic leg cramps with a 200-300mg quinine dose. Problematic leg cramps will continue to hold sway throughout the period of projection, says the report.
Predominantly prevalent in the elderly, quinine’s muscle-refractory benefits contributed to its widespread use. As this segment thrives, the malaria category is expected to witness substantial growth, despite WHO’s caution regarding quinine’s first-line use since 2006.
Intramuscular Administration Remains a Dominant Choice
Technological strides, favourable reimbursements, and the availability of generic autoinjectors propelled the intramuscular administration segment in 2022. Anticipated technological developments, investor interest in biologics, and untapped potential in emerging markets promise further growth.
On the flip side, oral administration is set to experience the fastest growth, driven by a global rise in the geriatric population and increased demand for self-administration.
Hospitals at the Helm
The hospital category took the lead in 2022, thriving on specialised medical care and heightened public awareness. However, clinics are poised for the fastest growth during the forecast period, emphasizing rapid diagnostics and efficient antimalarial drug delivery. The shift to clinics promises improved patient outcomes and accelerated treatment.
Key Report Highlights
- Ongoing product innovations, including natural sources of quinine and alternative sweeteners, are poised to fuel market growth. Manufacturers are investing in R&D to create diverse flavours appealing to a wide consumer base.
- Economic progress and increased disposable income globally contribute to the growth of quinine. Urbanisation, and changing lifestyles lead to higher consumption of alcoholic beverages, where tonic water is a common ingredient.
- Tonic water, a popular mixer, gains momentum in the growing cocktail culture. As gin and whisky consumption rises, tonic water sales in bars and restaurants are on the upswing. Boomers and millennials are predicted to drive the sector, creating new opportunities.
Insights into Regional Analysis
North America Demonstrates Regional Prowess
North America reigns supreme in the global quinine market, with commanding revenue shares of the US, and Canada. The burgeoning demand for quinine is intertwined with high gin consumption, fueling tonic water demand.
Bartenders’ craft in mixing premium tonic water with top-tier spirits is reshaping the cocktail culture in Canada. Socioeconomic factors, alcohol consumption patterns, and urbanisation further bolster the mixer market.
Asia Pacific’s Ascent Prevails
Asia Pacific gears up for remarkable growth through 2030. With increasing product approvals and launches since 2012, the region witnesses a surge driven by growing resistance to chloroquine.
India’s populous landscape and rising awareness of malaria contribute to market expansion. The gradual increase in spirit consumption in nations like India, China, and Indonesia propels the demand for quinine, cementing Asia Pacific’s pivotal role in the market’s evolution.
Competitive Landscape Analysis
Leading companies are actively expanding their international presence through the introduction of new products and the enhancement of their distribution networks. Additionally, it is expected that there will be further consolidation in the market in the coming years, according to forecasts by Fairfield Market Research.
Here are some of the key leaders in the global quinine space:
- Aecochem Corp
- Haihang Industry Co. Ltd.
- Shreeji Pharma International
- Vital Labs
- Trademax Pharmaceuticals & Chemicals
- Van Wankum Ingredients
- Hangzhou Dayang Co. Ltd.
- IS Chemical Technology Ltd.
- Leocorno Enterprises
- Bickford & Sons
- Chempro Pharma Private Limited.
Browse Global Quinine Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 – (By Type Coverage, By Application Coverage, By Administration Coverage, By End User Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/quinine-market
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