Growing Acceptance of Premium Bottled Water to Boost the Sales of Bottled Water
According to our latest market study on “Bottled Water Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Category, Flavor and Distribution Channel,” the bottled water market size is projected to grow from US$ 228.84 billion in 2022 to US$ 322.85 billion by 2028; the market expected to record a CAGR of 5.9% from 2022 to 2028. The report highlights key factors driving the market and prominent players along with their developments in the market.
Bottled waters are packaged drinking water which purified and are free from contamination. The bottled water is mostly of two types carbonated/sparkling or still water, generally available in plastic or glass packaging. The bottled water is the most convenient way to fulfill its hydration needs of body, hence are easily available nearby retail stores as well as supermarkets and hypermarkets. The rising health concern among the consumers along with a shift in demand from carbonated soft drinks to bottled water is driving the growth of the bottled water market across the world. Along with this, the increase in acceptance of premium bottled water is providing growth opportunities for the bottled water market across the world. The purity of water and added functionality are also some of the key selling points. Premium bottle water satisfies the growing consumer needs by introducing value-adding to the drinking water. The demand for premium water is expanding from a niche category of consumers to a wider audience. The acceptance of premium bottled water is also gradually growing in emerging countries such as Brazil. Furthermore, various premium brands are moving beyond bottled water into other categories. Brands such as Evian and Volvic have expanded their range from pure water to flavors and fruit inclusions. Hence, the growing acceptance of premium bottled water will offer lucrative opportunities for the growth of the bottled water market during the forecast period.
Global Bottled Water Market Breakdown – by Region
Bottled Water Market – COVID-19 Impact and Global Analysis – By Type (Sparkling and Still), Category (Functional and Conventional), Flavor (Plain and Flavored), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others), and Geography
Bottled Water Market Trends, Growth, Global Size by 2028
Download Free Sample
There is an increased emphasis on developing eco-friendly and recyclable packaging solutions for bottled water. For instance, the Coca-Cola Company focuses on increasing recycling rates and driving a more circular economy by incorporating into its packaging. The company is constantly evolving its packaging to reduce its environmental impact by increasing the use of recycled plastic, which has a smaller carbon footprint than PET and single-use plastic. Additionally, in October 2021, Coca-Cola collaborated with tech partners to create a bottle prototype from 100% plant-based sources. RHODIUS Mineralquellen is also taking a big step toward more sustainability. According to the news released in March 2022, from now on, all the company's PET bottles will be made of 75% recycled PET.
Danone; FIJI Water Company LLC; GEROLSTEINER BRUNNEN GMBH & CO. KG; The Coca-Cola Company; Nestlé S.A; Nongfu Spring; BlueTriton Brands, Inc.; PepsiCo, Inc; Voss of Norway AS; RHODIUS Mineralquellen und Getränke GmbH & Co. KG are among the major players operating in the global bottled water market. The companies offer wide range of bottled water including plain and flavored bottled water to customers across the globe. Moreover, these companies invest in research and development and focus on product innovation to launch products with different flavors. For instance, in February 2021, Coca Cola brand AHA has announced the development of two new sparkling water which are calorie, sodium and sweetener-free. The flavor includes Raspberry+ Acai and Mango + Black Tea. These companies also focus on expanding their business operations across profitable markets like Asia-Pacific and North America. Moreover, they are expanding their manufacturing capabilities to meet the growing demand for bottled water.
Impact of COVID-19 Pandemic on Bottled Water Market
The consumer goods industry suffered severe disruptions due to disturbances in supply chains and shutdowns of production plants amid the COVID-19 pandemic. In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The demand for bottled water increased during the COVID-19 pandemic in low-income countries owing to the lack of access to safe drinking water. On the other hand, as tourists and office workers were forced to stay home, countries with service-focused economies have seen drops in plastic bottle sales. Due to the lockdowns, restaurants and five-star hotels were shut down, so companies making premium bottled water were forced to revisit their business strategies. However, in 2021, the governments of various countries announced relaxation in lockdown and travel ban restrictions. Supermarkets and shopping malls were also permitted to open which positively impacted the sales of various consumer goods including bottled water. Thus, during late 2021, the bottled water market witnessed recovery, which aided the market growth.
The report includes the segmentation of the bottled water market as follows:
Based on type, the bottled water market is segmented into sparkling and still. On the basis of category, the market is bifurcated into functional and conventional. Based on flavor, the bottled water is segmented into plain and flavored. Based on distribution channel, the bottled water market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The bottled water market in North America is further segmented into the US, Canada, and Mexico. The European market is sub-segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The bottled water market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The bottled water market in South & Central America market is categorized into Brazil, Argentina, and the Rest of South & Central America.
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com