Bottled Water Market Professional Survey Report, Industry Growth, Shares, Market Size, Opportunities and Forecast to 2024
Bottled water contributes a large portion in the global soft drinks industry. With increasing responsiveness among consumers about being hydrated by drinking safe water is driving the growth of global bottled water market. The demand and consumption of bottled water varies significantly from one region to another region. Increasing economic stability and urbanization in developing countries, such as China, Brazil, India and Mexico, is generating demand for bottled water. In emerging countries, consumer awareness towards the safe and clean water had driven the growth of the bottled water market.
Availability of convenience packaging and inability of the governments to provide reliable and safe drinking water are various other factors persuading the growth of global bottled water market. Bottled water market is less affected by fluctuating prices of raw materials. As water, which is the prime raw material used, is found in abundance, the bottlers’ sales margin depends on the price of plastic used for making the bottles.
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The various types of bottled water available are flavored bottled water, carbonated bottled water, still bottled water and functional bottled water. Based on application, the global bottled water market can be categorized as domestic, industrial and commercial bottled water. And based on regulated levels, global bottled water can be classified as federal, state and industry level. International Bottled Water Association (IBWA) regulates standards for safe and high quality portable bottled water products.
Rising wellness and healthcare concerns, innovations in bottling technology supported by new packaging initiatives, green packaging, growth and availability of various flavored and carbonated bottled water segments is expected to boost the demand of bottled water globally in coming years. Development of low priced equipment for small bottling operations and use of non-toxic raw materials for bottled water packaging is laying opportunities for global bottled water market.
Substitution of bottled water by low cost tap water, environmental impact, potential of leaching in water and campaigns against bottled water are some of the hindrances in the growth of global bottled water market.
Geographically, Asia-Pacific dominates the global bottled water market, followed by Europe. However, developing countries in Asia-Pacific such as India and China are expected to be the fastest growing regional market of the bottled water during the coming years. The expansion of bottled water market in developing countries is attributed to shifting inclination in drinking habits toward more hygienic drinking alternatives, rising disposable income, high consumption volume of water, and growing consumption of functional water in the region.
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Some of the major players in the global bottled water market include PepsiCo Inc., Nestle Waters, Groupe Danone, Icelandic Water Holdings ehf, The Coca- Cola Company, Mountain Valley Spring Company, LLC, Hangzhou Wahaha Group Co., Ltd., Sunny Delight Beverages Company, and Balance Water Company.
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