The global bottled water market size is expected to reach USD 509.2 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.7% from 2022 to 2030. Increasing demand for bottled water owing to the rising scarcity of fresh and pure drinking water across the globe is driving the market. Factors such as health benefits with added minerals and nutrients are likely to fuel the demand for bottled water over the forecast period.
Bottled Water Market Report Highlights
- By product, sparkling bottled water is projected to register the fastest growth rate over the forecast period as it helps stave off dehydration and protects from digestive issues and complications with the heart and kidneys
- The on-trade distribution channel segment is anticipated to witness lucrative growth during the forecast period owing to the opening of economies post-COVID-19 pandemic
- Asia Pacific is expected to register the fastest growth rate during the forecast period. Strong demand for clean and hygienic drinking water in countries including Indonesia and India is driving the market in the region
Gain deeper insights on the market and receive your free copy with TOC now @: Bottled Water Market Report
Since the beginning of the COVID-19 pandemic, Sales of bottled water have soared during the pandemic as many water utilities have been forced to operate outside of design conditions with reduced workforce and financial capacities, had to overcome various challenges including supply chain issues, spatiotemporal changes in demand, and financial losses. Social distancing policies implemented throughout the world in response to Coronavirus have led to spatial and temporal shifts in drinking water demand and created sociotechnical challenges. Growing awareness regarding the adverse health effects of consuming sugary drinks, such as weight gain, obesity, diabetes, and heart disease, is supporting the consumption of alternative beverages such as still and sparkling water. The trend of switching from sugary drinks to healthier options is observed in several countries such as Germany, the U.S., the U.K., and France. This has widened the scope for bottled water across the globe.
Purified water emerged as the largest product segment in 2021 and is expected to maintain its lead over the forecast period. With water likely to become an even scarcer resource in the coming years, the demand for potable water is increasing across the world, especially in developing economies with a rapidly rising population. Countries in the Africa and Asia Pacific regions are expected to witness considerable demand for purified water over the course of the forecast period. According to the U.S. and International Developments and Statistics, July 2021, Asia is one of the biggest regional players in the market with China accounting for more than one-quarter of the world’s bottled water volume.
The off-trade distribution channel segment held the largest revenue share in 2021 owing to the presence of a large number of retail stores across the globe. Further, in developed countries, convenience stores and supermarkets/hypermarkets are popular places to purchase bottled water; thus, this market segment is growing rapidly. According to NACS Convenience Tracking Program (CTP) data, 2019 convenience stores in the U.S. sold nearly 50% of all single-serve bottled water. The market is fragmented with the presence of a large number of regional and local players. Major companies in the market are focusing on new product launches, capacity expansions, and technological innovations.
Bottled Water Market Insights By Demographics
Asia Pacific held the largest revenue share and is expected to register the fastest CAGR. Growing awareness regarding the importance of health and wellness in countries including China, India, Malaysia, and Indonesia is one of the major factors supporting the market growth owing to the heightened demand for hygienic consumables. North America held the second-largest revenue share. Most Americans do not prefer drinking water straight from the tap as they find packaged options to be a safer and more convenient option. Moreover, the rising demand for eco-friendly and sustainable packaging solutions by customers is expected to offer lucrative opportunities for existing manufacturers and new entrants in the market.
Competitive Analysis By Major Companies
The global market is highly dynamic as a large number of companies can be seen competing for enhancing their share in the market. A large part of the industry is controlled by local firms. Several companies are centennial and some of these are family-owned. Some prominent players in the global bottled water market include:
- Nestlé
- PepsiCo
- The Coca-Cola Company
- DANONE
- Primo Water Corporation
- FIJI Water Company LLC
- Gerolsteiner Brunnen GmbH & Co. KG
For Any Questions or Inquire please visit @: https://www.grandviewresearch.com/industry-analysis/bottled-water-market/request/rs5
Bottled Water Market Segmentation
Grand View Research has segmented the global bottled water market on the basis of product, distribution channel, and region
- Bottled Water Product Outlook (Revenue, USD Million, 2017 – 2030)
- Bottled Water Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
- Bottled Water Regional Outlook (Revenue, USD Million, 2017 – 2030)
- List of Key Players of Bottled Water Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
For Customized reports or Special Pricing please visit @: https://www.grandviewresearch.com/special-pricing/1186/rfsp2
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Contact:
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll-Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com