Global Bottled Water Market Overview
The key drivers impacting the bottled water market are the growing awareness towards safe drinking water and diseases caused by drinking contaminated water, which leads to the ever-increasing demand for bottled globally. For Instance, International Bottled Water Association, in 2020, Americans consumed around 15 billion gallons of bottled water, increased by 4.2 percent from 3.7% of 2019. As per these estimations, each American drank 45.2 gallons of bottled water on an average in 2020; a 3.5 percent augment from 2019. In addition, bottled water’s retail dollar sales climbed in 2020, grew by 4.7 percent, reached $36.3 billion. Moreover, the growing number of health-conscious consumers and rapid expansion of restaurants providing bottled water contributes to bottled water market demand in the later years.
According to Value Market Research, the global bottled water market size was valued at about USD 218 billion in 2020 and is estimated to grow at a CAGR of around 12% during the forecast period 2021 to 2027.
The rising consumer consciousness towards the health benefits of consuming bottled water will be likely to augment the need for bottled waters in the forecast period. The growing receptiveness towards bottled water than ordinary water, mainly among younger consumers, due to easy portability and convenience provided by bottled water forces product sales. However, the increasing environmental pollution through plastic bottles hampers the market in the long run. In addition, the lack of awareness regarding health issues through low-cost tap water impedes market growth. Nevertheless, the market trends, such as increasing consumption of functional bottled water and rising research in developing innovative products, might provide considerable opportunities to the market's leading players.
The bottled water market is widespread, with many local and international players. The market leaders follow diverse strategies to strengthen their market, such as amalgamation, extending product portfolio, acquisitions, contracts, product upgrades to raise their market share globally. The key players in the report are Nestlé, The Coca-Cola Company, FIJI Water Company LLC, Rhodius Mineralquellen Und Getranke GmbH & Co KG, Primo Water Corporation, VOSS WATER, DANONE, Nongfu Spring, PepsiCo, Gerolsteiner Brunnen GmbH & Co. KG.
In this research report, the bottled water market is segmented by product and region.
Analysis by Product:
By product, the report is segmented into spring, purified, mineral, sparkling, distilled, and others. The purified water segment dominates with the highest market share of 36% in 2020. It is due to the demand for ultra-purified water derived from desalination technology. Moreover, rising water wants due to growing population growth, urbanization, economic development, and declining water supplies owing to climate change and contamination worsen water scarcity in various regions of the globe contribute to the growth of the purified water segment in the forecast period.
Analysis by Region:
In the regional outlook of the global bottled water market, the Asia Pacific region dominates with the largest market share of 43% in 2020. It is due to the growing preference for bottled water due to rising health issues caused by contaminated water consumption. Also, varying water consumption habits and the introduction of innovative products are adding to the regional growth. Moreover, the rising industrialization, growing organized retail sectors, and favorable government initiatives contribute to the tremendous market growth across the Asia Pacific.
Market Segmentation covered in the Report:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.