Market Research Report
Pakistan Bottled Water Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
|Pakistan Bottled Water Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)|
Published: October 13, 2021
Mordor Intelligence Pvt Ltd
Content info: 90 Pages
Delivery time: 2-3 business days
Pakistan bottled water market is forecasted to reach USD 451.57 million by 2025 growing at a CAGR of 10.46% during the forecast period.
The trend for drinking healthy water and poor tap water quality are the main reasons for consumers' interest in bottled water consumption in Pakistan. Government water boards have failed to deliver clean drinking water to the masses. This has increased the demand for safe water sources, including bottled water in Pakistan.
An increase in the number of companies failing to meet safe quality standards is likely to hamper the growth of the market. Marketers are emphasizing the words 'purified', 'pure', and 'Natural Mountain spring water'. Strong imagery is used on the labels, which display mountains, lakes, and springs. Alkaline water is another important trend.
Extensive restrictive measures set up by governments around the world to combat the global coronavirus outbreak are creating logistical challenges for the bottled water processing sector. While this is creating new bottlenecks in the sector, consumers continue to prefer stockpiling of essential commodities. This remains the key factor sustaining demand for bottled water even during the COVID-19 crisis. The rise in demand is expected to result in the emergence of bottled water players in the market with extensive product offerings, enhanced benefits, and competitive pricing strategies due to increasing consumption, which is anticipated to provide a growth opportunity for the bottled water market across the region.
The demand for bottled water of various brands has increased in the past few years. Various bottled water plants have been set up across various parts of the country. For instance, in 2017, four bottled water plants were set up in Karachi, which indicates an increase in demand. As per capita, household income is rising, people living in urban areas have become more aware of the contamination of drinking water, which has resulted in a surge of bottled water sale. There is a change in the spending pattern of consumers, as they are inclined toward more convenient sources of water and food to save time. In the past five years, consumer spending per capita has increased at a rate of 10.8%, which has influenced the expenditure on bottled water in Pakistan.
There is a growing demand from people towards still water than sparkling water, and the gap has been increasing very fast. People are becoming more health conscious and moving away from carbonated soft drinks. The price and availability of sparkling water inclined a section of the consumers to choose still water over sparkling water. Further, awareness about the purity and safety of bottled water, and contamination of drinking water sources are driving the demand for still bottled water. Also, the upsurge in demand from Pakistan and the growth of the middle-class population that demands better living standards, are playing as key roles in driving the still bottled water market growth.
The market studied is consolidated where there are major players in the Pakistan bottled water market include The Coca-Cola Company, Nestle S.A., PepsiCo, Qarshi Industries, Mt. Fuji Vanadium Mineral Water, PakTurk Bottlers, Atlantis Premium Water, among others. These players are primarily focused on providing quality products offering, along with the increased convenience of purchase.