PUBLISHER: DataM Intelligence | PRODUCT CODE: 1285070
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1285070
The Global Bottled Water Market size reached US$ 252.7 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 388.4 billion by 2030. The market is growing at a CAGR of 5.5% during the forecast period 2023-2030.
An increase in the trend of drinking alkaline water, electrolyte-enhanced water, and hydrogen water helps to boost the growth of the global bottled water market. Expanding innovative work initiatives and modernizing new products will create new opportunities for the bottled market during the forecast period. Significant factors influencing the growth of the bottled water market include an increase in the number of urban residents, higher disposable income, higher standards of living and the development of environmentally friendly packaging materials.
Additionally, there has been increased demand from business travelers, workers and domestic consumers. Over the past few years, consumers have become more and more interested in products that bear the descriptions "alkaline", "electrolyte-rich", "fortified", "caffeinated water" and "fortified with additional hydrogen or oxygen."
Consumers are shifting towards the consumption of bottled water because it is good for their health. Water also has a number of health benefits, such as easy digestion and the ability to ease constipation. It even helps in reducing obesity, which is a prime factor responsible for the market's growth. The market has benefited as a result of bottled water companies increasing their production capacity to meet this spike in demand, which is said according to the International Bottled Water Association (IBWA).
According to the data published by World Health Organization, around 2 billion people live in water-stressed countries which is due to climate change and population growth. Consumption of contaminated water causes various diseases such as cholera, diarrhea, dysentery, hepatitis A, typhoid and polio. According to World Health Organization estimates, 829 000 people per year pass away from diarrheal disease as a result of poor hand hygiene, sanitation and drinking water. Additionally, the need for clean and hygienic bottled water is growing as awareness of various health-related issues, such as neurological disorders, reproductive issues and gastrointestinal diseases, grows. This could fuel the market for bottled water during the anticipated timeframe of growth.
The COVID-19 pandemic has had a significant impact on the bottled water industry. With the fear of contaminated tap water, people have been stocking up on bottled water. This has led to increased demand for bottled water, which has put a strain on the supply chain. The pandemic has caused disruptions in the production and supply chain of bottled water.
The closure of factories, transport restrictions and other logistical challenges have resulted in delays in getting bottled water to market. The pandemic has led to changes in consumer behavior, with many people opting for online shopping and contactless delivery. This has affected the way bottled water is sold, with many consumers buying their water online instead of in-store.
The global bottled water market is segmented based on product, distribution channel, packaging and region.
Bottled water markets have been segmented by product as spring water, purified water, mineral water, sparkling water and others.
Natural water with at least 250 parts per million of total dissolved solids is mineral water. The constant level and relative proportions of mineral and trace elements at the point of emergence from the source, set mineral water apart from other types of bottled water. According to the Safe Drinking Water Foundation (SDWF), this product cannot be supplemented with minerals.
An increase in product launches by major key players helps to boost segment growth over the forecast period. For instance, On September 24, 2021, Volnaa launched Natural Mineral Water in the market. It is available in the Aluminum Cans. By producing 100% recyclable cans with relock innovation, the company hopes to combat the threat of plastic pollution.
By region, the global bottled water market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and America.
North America is anticipated to experience strong growth during the forecast period. According to the International Bottled Water Association (IBWA), in 2021, Americans drank 15 billion gallons of bottled water, an increase of 4.2% from 2010. (3.7 % increase compared to 2020).
Additionally, retail dollar bottled water sales increased in 2020 by 4.7 percent to $36.3 billion. People are choosing to consume fewer calories and bottled water as a healthy alternative has the added advantage of benefiting the environment. Bottled water uses a lot less plastic than other packaged beverages and its packaging is 100% recyclable
The major global players include: Bisleri International Pvt. Ltd., Nestle SA, Mountain Valley Water Co., Societe des Eaux Minerales d'Evian SA, The Coca-Cola Company Inc., Primo Water Corporation, GEROLSTEINER BRUNNEN GmbH & Co. KG, Nongfu Spring, TATA Consumer Products Limited and Glaceau.
The Global Bottled Water Market Report Would Provide Approximately 61 Tables, 53 Figures and 195 Pages.
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