Bottled Water Market to surpass USD 850.2 Billion by 2030 from USD 198 Billion in 2019 in terms of value growing at a CAGR of 10.2% throughout the forecast period, i.e., 2020-30. The demand is driven by an increased understanding of waterborne diseases such as malaria, typhoid, diarrhea, food poisoning, and others in health care. Besides, since it is handy, bottled water is more compact and easier to use, thereby helping the growth of the market. Besides, over the forecast period, growing consumer perception of the health benefits of drinking bottled water is expected to drive market growth. Product sales are driven by the inclination towards bottled water rather than ordinary water, particularly among younger consumers. Several restaurants are offering bottled water to meet customer demand in light of this development. For health-conscious consumers, water seems to have found a sweet spot. The rapid expansion of restaurants in the U.S. is also foreseen to create a significant demand for bottled water in the upcoming years.
Packaged drinking water that is filtered and free from contaminants is bottled water. It is sold in plastic and glass water bottles, and is conveniently available in local grocery stores and supermarkets as the most convenient way for the body to satisfy its hydration needs. The most convenient source of water is bottled water, since it is available in different convenient packets, enabling customers to conveniently hold it. These bottles of water are convenient and perfect for use on the go.
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Bottled Water Market: Key Players
- The Coca-Cola Company
- Primo Water Corporation
- FIJI Water Company LLC.
- Gerolsteiner Brunnen GmbH & Co. KG
- VOSS WATER
- Nongfu Spring
- Rhodius Mineralquellen Und Getranke GmbH & Co KG
Bottled Water Market: Segments
Sparkling water segment to grow with the highest CAGR of 11.2% during 2020-30
Bottled Water Market is segmented by product as Purified, Mineral, Spring, Sparkling, Distilled, and Others. The purified water segment is estimated to lead the market with a share of over 35.3% in 2019. Water shortage in most regions of the world is worsened by rising water needs due to population growth, increased per capita water use, urbanization, economic development, and falling water resources due to climate change and pollution. During the forecast era, demand for ultra-purified water derived from desalination technology is expected to rise to address these concerns. Over the forecast era, the sparkling water segment is projected to be the fastest-growing segment with a CAGR. Sparkling water is also sold as sparkling drinking water or mineral water.
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Bottled Water Market: Market Dynamics
Change in lifestyle patterns of consumers
Bottled water market is expected to witness substantial growth in the coming years due to change in lifestyle patterns of consumers as they are more inclined towards the most convenient sources of water and food to save their time. The key factor driving the growth of the market studied over the forecast period has been increasing consumer demand for functional beverages. The ease of consumption and its effect on human nutrition are the factors driving the market’s demand. Functional water’s rising popularity among the working class and millennial populations is expected to enhance the market growth. Plain and flavored types of still and sparkling water have become widely popular drinks on a global level in recent years. This is an ongoing megatrend and is predicted to remain prevalent in years to come. With growing health consciousness, consumers are opting for packaged water and reducing the consumption of sugary drinks. The consumption of still drinking water has increased in food outlets and restaurants, which is boosting the market growth.
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Strict regulations for the acceptance of bottled water and the lower-cost availability of tap water are key factors hindering market development. In addition, the harmful effects of using plastic bottles can cause neurological diseases and behavioral problems among children due to the presence of chemicals such as bisphenol A (BPA). Environmental contamination from plastic trash poses a threat to the development of the market. Bottled water use leads to health hazards.
Bottled Water Market: Regions
Bottled Water Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.
Bottled Water Market in Asia Pacific led the market with a lion share of more than 42.2% in 2019 and is expected to maintain its lead throughout the forecast period. The regional market is mainly driven by the growing preference for bottled water due to rising health issues caused by contaminated water consumption. Changing water consumption habits, growing organized retail sectors, and the introduction of innovative products, such as flavored water is further expected to support the regional market growth. India and Israel signed a memorandum of understanding (MoU) to promote India’s desalination technology. This government-led initiative to boost the technology to produce purified water is anticipated to positively impact the segment growth over the forecast period.
Bottled Water Market report also contains analysis on:
Bottled Water Market Segments:
- By Product Type:
- By Distribution Channel:
- Bottled Water Market Dynamics
- Bottled Water Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
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