Bottled Water Industry Demand by Share, Revenue, and Forecast Report by Market Research Future
Market Scope
Market Research Future (MRFR) expects the
bottled water market to capture a moderate growth rate of 5.85% from 2020 to
2027. By 2027, it is presumed that the market size shall touch a whopping USD
120.3 billion.
Growth Boosters and Challenges
Ease of use, low maintenance cost and
portability are identified as the key reasons for the significant demand being
witnessed by bottled water across the globe. Additionally, surging consumer
interest in healthy lifestyle and the mounting awareness about the benefits
associated with bottled water should also translate into considerable growth
for the global market.
Shifting preference from ordinary water to
bottled water can be seen more among the younger consumers, with urbanization
deemed to be a possible driver. In view of this emerging trend, restaurants are
increasingly offering bottled water to cater to the consumer demand. Hence, the
rapidly soaring number of restaurants worldwide should back the market growth
in the upcoming years.
Segmental Review
The market segmentation for bottled water
covers type, category as well as distribution channel.
The key types of bottled water available in
the worldwide market are mineral water, sparkling/carbonated water, and
purified water. Purified water experiences robust demand in the market, in view
of exploding global population with surging water requirements, urbanization,
high per capita consumption, economic development, decline in water supplies on
account of climate change. Moreover, contamination has aggravated the issue of
water scarcity in various parts of the world, which has raised the demand for
ultra-purified water.
The categories discussed in the MRFR report
include plain as well as flavored. Flavored water has very few calories and is
mostly preferred by consumers due to their enhanced taste, and the associated
health benefits. As a result, the flavored bottled
water industry is being subjected to large-scale
investments, which should further elevate the segment’s position in the global
market.
With respect to distribution channels, the
market caters to store-based and non-store-based. The store-based channels are
convenience stores, supermarkets & hypermarkets, and more. Experts note
that the sales are substantially high via hypermarkets and supermarkets since
these outlets are generally located in busy areas and provide consumers with a
convenient shopping experience.
Regional Insight
The bottled water industry has been regionally
considered for North America, Asia Pacific, Europe, along with the rest of the
world or RoW.
The bottled water market is the most
profitable in Europe, with the region having captured a huge share of 38.32% in
the year 2018. Expansive pool of health-conscious people along with the rising
preference for bottled drinks have been favorable for the European market.
Major trade associations such as the European Federation of Bottled Water are
focused on spreading awareness among the mass about the health benefits
associated with spring water, natural mineral water, and other bottled water
types, which helps foster the sales. Germany will be one of the highest gainers
in the region during the appraisal period, with sparkling water and functional
water expected to witness maximum sales over the ensuing period.
Asia Pacific is on track to race ahead at the
fastest rate in the global market for bottled water, thanks to the exploding
urban population as well as the alarming rise in diseases as a result of intake
of contaminated water. These escalating cases have prompted consumers to opt
for products that are safe and healthy. Moreover, the surge in the organized
retail sector, evolving water intake habits, coupled with the introduction of
new and more innovative items like flavored water by leading brands in the
region should also assist in market expansion over the following years.
Browse Full
Report @ https://www.marketresearchfuture.com/reports/bottled-water-market-2252
Top Companies
The Coca-Cola Company (US), Danone S.A.
(France), Cott Corporation (US), PepsiCo, Inc. (US), Gerolsteiner Brunnen GmbH
& Co. KG (Germany), Nestlé S.A. (Switzerland), Nongfu Spring (China),
Bisleri International Pvt. Ltd (India), Tata Global Beverages (India), RHODIUS
Mineralquellen und Getränke GmbH & Co. KG (Germany), are the major brands
active in the bottled water industry.
In the face of fierce competition in the
global industry, manufacturers are adopting marketing strategies to widen their
consumer base. Advertising campaigns, new launches and product innovation are
some of the top strategies employed by the major brands to elevate their market
rankings. Many of the bottled water manufacturers also focus on using different
packaging solutions with multiple benefits and attractive looks that help
capture the attention of a higher number of consumers.
To illustrate, in May 2021, The Alkaline Water
Company Inc., a prominent alkaline water firm launched its completely
recyclable white aluminum water bottle. The cool aluminum not only elevates the
aesthetics appeal and sustainability bottle, but also enhances the taste of the
Alkaline88 water. Alkaline88 is ionized water that has completely pure
ingredients, including Pink Himalayan Rock Salt and with the launch of the new
packaging, the popularity of the product is only expected to mount among
consumers.
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