Bottled Water Market Segments: By Product (Purified, Mineral, Spring, Sparkling, Distilled and others); By Distribution Channel (Offline and Online); and Region - Global Analysis by Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
[ 170 + Pages Research Report ] 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.
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.
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.
The 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.
Change in lifestyle patterns of consumers
The bottled water market is expected to witness substantial growth in the coming years due to changes in lifestyle patterns of consumers as they are more inclined toward the most convenient sources of water and food to save 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 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.
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.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.
The Bottled Water Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
The Bottled Water Market in the Asia Pacific led the market with a lion's 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.
The bottled water market, which is highly competitive, consists of several major players such as Nestlé SA; PepsiCo; Primo Water Corporation; The Coca-Cola Company hold a substantial market share in the Bottled Water market. Other players analyzed in this report are DANONE; VOSS WATER; FIJI Water Company LLC.; Gerolsteiner Brunnen GmbH & Co. KG; Nongfu Spring; Rhodius Mineralquellen Und Getranke GmbH & Co KG among others.
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Bottled Water Market Segments:
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