Bottled Water Market Trends, Share, Price, 2023-2028
The ‘Global Bottled Water Market Trends, Report and Forecast 2023-2028’ by Expert Market Research, gives an extensive outlook of the global bottled water market, assessing the market on the basis of its segments like type, distribution channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Bottled Water Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 6.70%
The global bottled water market is expected to expand in the coming years, owing to the rising demand for fresh and pure drinking water. A factor driving the market growth is the growing population of health-conscious people and their rising concerns regarding contaminated drinking water and the life-threatening diseases that it can bring with it. Encouragement of rented-equipment usage for bottling water cuts annual-maintenance costs, thus saving the manufacturers from the plight of debt and bolstering the growth of this market. Openings of new outlets like restaurants, bars and club has further accelerated the expansion of the bottled water market.
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With the rapid globalisation and increasing working population, the need for on-the-go, safe and clean drinking water surges. The growing inclination of the population towards bottled water can be attributed to the increased awareness among the people regarding safe water consumption in the wake of the repeated unfortunate instances of diseases caused due to water contamination. Rising income and improved quality of life of the population has further strengthened the position of the bottled water market on the global level. Due to the presence of calcium in them, consumption of flavoured or functional water promotes bone health and thus offering lucrative opportunities for market growth in the foreseen period.
Bottled Water Industry Definition and Major Segments
Bottled water refers to packed drinking water, that has been treated, making it fit for human consumption. Its portable nature makes it easy to be carried from place to place, in order to fulfil the purposes of hydration. Bottled waters have less metallic taste as compared to tap-water, thus making it perfect for taste-sensitive people.
On the basis of type, the market is classified into:
- Spring water
- Purified water
- Mineral water
- Distilled water
- Sparkling water
Based on distribution channels, the market is segmented into:
- Supermarkets and hypermarkets
- Convenience stores
- Home and office delivery
- On trade channels
On the basis of region, the market is differentiated into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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A key trend witnessed in the global bottled water market is the growing focus, specifically of the younger and health-conscious population, on healthy hydration. There has been a steep rise in the demand for sustainable packaging of bottled drinking water, so that rightful emphasis is placed on sustainable development. Besides this, there has been a spike in the sales of functional and flavoured water in the market, owing to their benefits like better taste and health benefits. In comparison to other ready-to-drink beverages, functional water bottles are inexpensive and are thus preferred by a sizeable population.
Market players are aiming to reduce the use of virgin bottles and switch to hybrid bottles with paper and plastic components in order to contribute to sustainability. Research and development along with technological developments in this area like development of improved packaging and flavouring options with enhanced health benefits are contributing to development of the global bottled water market. Using bold, attractive visuals coupled with significant investment on advertising, to captivate the consumers is a key marketing strategy of the market players. Complete product descriptions and interactive labelling is another prime factor that provides complete knowledge and awareness of the product to consumers, thus compelling them to contribute to the sales of bottled waters.
Key Market Players
The major players in the global bottled water market report are Nestlé SA, The Coca-Cola Company, Danone S.A., PepsiCo Inc., FIJI Water Company LLC., and BlueTriton Brands, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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