Bottled Water Market: Customization, Innovation, and Convenience Drive Significant Growth

The global bottled water market is predicted to observe a significant growth due to the rising demand for customization options, innovation, increasing health and wellness awareness, growing consumer preference for convenience. Convenience of carrying bottled water is estimated to play an important role in the growth of the market in the years to come.

► Market Size
The worldwide bottled water market was valued at USD 227.12 Billion in 2018 and increased significantly in 2019 to USD 249.04 Billion, indicating a 9.9% rise.

Surging global bottled water consumption reflects the failure by governments to improve public water supplies which is putting the U.N. sustainable development goal of safe drinking water by 2030 under threat. The bottled water market saw 73% growth from 2010 to 2020, and consumption increased to around 350 billion liters in 2021

Get the Free Sample Report:- https://www.makreo.com/report/bottled-water-market-analysis-size-share-and-forecast-2018-2028-segmentation-by-product-geography

► Regional Performance
Global Bottled Market by Region is divided into North America. Asia Pacific, Latin America & the Caribbean, Europe and Africa

The majority of the market is dominated by Asia Pacific and North America, which accounts for 49% and 29% respectively followed by Europe.
The United States, China, and Indonesia are the greatest users, accounting for about 40% of worldwide bottled water volume.

► Price Scenario
According to 92 nations studied in September 2022, a 1.5-liter bottle of local brand water costs an average of USD 0.70 internationally. A bottle of water costs around USD 2.50 on average in North America and Europe, which is more than double the price in Asia, Africa, and Latin America (USD 0.80, USD 0.90, and USD 1, respectively). Bottled water is the most costly in Australia and the Philippines, with prices starting at USD 2.02 a bottle.

► Key Findings:-
■ Dominance of Europe and US in Bottled water Market: The global bottled water market is dominated by Europe and the US, which account for over 50% of the market value. Several bottled water companies are looking to enter developing markets, with immense growth potential such as Asia and Middle East. China is one such market where sales of bottled water are rapidly increasing. Companies are trying to capitalize on weather changes, such as summer, and an increase in health consciousness among consumers.

■ Flavored Water Growth in Europe: Premium bottled water is experiencing strong value growth across Europe, particularly in Western Europe, where premium bottled waters have distinguished themselves from the mainstream by establishing a distinct selling point, attracting a target group of high-income consumers, and commanding a higher price than the mainstream market. Market participants frequently emphasize the purity of the water as a distinctive selling feature, while some manufacturers add functionality to increase the value.

■ Rise in Tourism: The development of international visitors and the expatriate community are the primary drivers of this business. France, Spain, the United States, and China are all popular tourist destinations. The travel and tourism (T&T) business directly contributes around 3.6% of global GDP and indirectly contributes approximately 10.3%. According to recent UNWTO figures, more than 900.0 million visitors travelled globally in 2022, more than double the amount reported in 2021. This figure is expected to rise in the future, which will have a direct influence on bottled water consumption.

■ Tech & Innovation: New technologies and practices for reducing production time are expected to fuel market development throughout the forecast period. Clear Water Manufacturing, a North Carolina-based bottled water manufacturer, for example, introduced a machine in June 2018 that can filter, fill, and cap more than 300 bottles of water per one-hour cycle on-site at any location, such as campuses, hotels, and stadiums, or in retail spaces. As a result, technological advancement is expected to boost market growth.

The report "Bottled Water Market Analysis, Size, Share and Forecast (2018-2028)- Segmentation by Product & Geography" by Makreo Research examines the bottled market in particular. The study analyses market demand and production data for bottled together with a thorough analysis of historical and current industry trends. The study analyses the market by region, including North America, Europe, Asia-Pacific and Middles East. The report contains a good balance of macroeconomic and microeconomic analysis, both qualitative and quantitative. The competition has also been carefully examined in terms of significant M&A transactions that have occurred in the market and recent financial infusions.

Period of Study:-
2018-2022 : Past and Present Scenario
2022: Base Year
2023-2028 : Future Outlook of the industry

Market Assessment:-
The report examines the bottled market in terms of market revenue and further breakdown into market segmentation:
by Geography (Asia Pacific, North America, Europe, Latin and the Caribbean),
by Product Segmentation (Treated water, Sparkling water, mineral water, spring water, well and Artesian well water and Glacier water)

EPTD, & Trade Performance:-
We have studied co-relation of major independent factors those have been covered under the sections:
EPTD Analysis (Economic, Political, Technological and Demographic Factors)
Trade Performance

Company's Mentioned:-
Nestle Waters
Danone
Dasani
Aquafina
Galceau Smartwaters
Poland Spring
Ozarka
Fiji Water
Bisleri International
Tingyi/Master Kong
VOSS Water
Nongfu Spring

For more information on the research report, refer to below link:
https://www.makreo.com/report/bottled-water-market-analysis-size-share-and-forecast-2018-2028-segmentation-by-product-geography

Makreo Research and Consulting
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Contact us at:
Meetu Bhasin, Director - Research and Operations
Phone Number
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Email Address
info@makreo.com

Makreo is a market research and consulting firm working closely with business conglomerates worldwide to assist them in many aspects of driving their business growth and making wise decisions with the help of our qualitative and quantitative market insights.

This release was published on openPR.