Bottled Water Market Size Worth USD 120.3 billion by the end of 2024: Leading Industry Drivers are Gerolsteiner Brunnen GmbH & Co. KG, RHODIUS Mineralquellen und Getranke GmbH & Co. KG, Danone S.A.

Bottled water is gaining momentum owing to the innovations introduced by the key vendors operating in the market. The report offered by Market Research Future (MRFR) has highlighted that the global bottled water market is poised to exhibit moderate growth pace during the forecast period 2017 to 2022. Flavor innovations in bottled water are likely to gain traction of the market in the years to come.

The shifts in consumer behavior towards healthy lifestyle have led to the introduction of vitamins and other nutrients induced water. With the increasing population of health-conscious people, the demand for bottled water with nutrients is expected to increase. This, in turn, is prognosticated to catapult the market on a growth trajectory. Rising disposable income in developing nations resonates strong growth potential for the market players. These economies are projected to remain highly lucrative in the years to come.

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The governments set the standards on the drinkability of water. The standardization of hygiene levels by the government bodies is anticipated to favor the proliferation of the bottled water market over the next couple of years. Increasing awareness, coupled with the rising urban population, is projected to support the growth of the bottled water market in the years to come.

Competitive Dashboard:

The key players of the bottled water market studied in this report are Groupe Danone (France), Nestle Waters (France), PepsiCo Inc (U.S.), Suntori Beverage & Food Ltd (Japan), Mountain Valley Spring Company, LLC. (U.S.), The Coca Cola Company (U.S.), and Grupo Vichy Catalan (Spain).

Industry News:

In June 2019, Ferns N Petals (FNP), a flower and gifts retailer based out of India, has launched its own bottled water under the brand name of FNP. The water contains higher levels of TDS (Total Dissolved Solids) which is not only safer but also makes the water tastier.

In June 2019, Vita Coco, a producer, and distributor of coconut water, has ventured into competitive bottled water space with its new water brand, Ever & Ever. The producer has chosen recycle-friendly aluminum for the launch of its water brand.

In June 2019, Duo has launched a new "wild water" from the Larkfire, which is a naturally-sourced water. The company has developed the product specially for pairing with whiskeys.

Market Segmentation:

By type, the global bottled water market has been segmented into spring water, purified water, mineral water, sparkling water, well water and others

On the basis of packaging, the bottled water market has been segmented into packaging PET bottles, glass bottles, and others

Based on process type, the global bottled water market has been segmented into distilled water, sterile water, RO water, desalination, and others

The bottled water market, by application, has been segmented into flavored water, tonic water, fruit infused water, fortified water, and others

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Regional Analysis:

The geographical evaluation of the global bottled water market spans across four major regions - North America, Asia Pacific, Europe, and the Rest of the World (RoW). Asia Pacific exhibits tremendous growth opportunities and is likely to hold the maximum market share over the next couple of years. The primary factor poised to drive the expansion of the bottled water market in the region is the rising urban migration. The changing lifestyle, in conjunction with increasing per capita income is likely to catalyze the proliferation of the bottled water market in the region across the forecast period. In addition, the rising standards of living are also projected to boost the growth trajectory of the market in the nearby future. Europe and North America are anticipated to exhibit moderate growth owing to the strong economy of the region.

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This release was published on openPR.