Global Bottled Water Market to Reach USD 460.8 Billion by 2031, Growing at a CAGR of 6.2% | TMR Study

The global bottled water industry has witnessed substantial growth over the years, driven by concerns over water quality, health consciousness, and convenience. In 2022, the market was valued at US$ 268.2 billion and is projected to reach US$ 460.8 billion by 2031, growing at a CAGR of 6.2% from 2023 to 2031. This robust growth is fueled by rising demand for clean drinking water, increasing awareness of health benefits associated with hydration, and the preference for nutrient-fortified water. Additionally, sustainability trends are reshaping the industry as companies invest in eco-friendly packaging and ethical sourcing.

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Market Size and Growth

The bottled water market has demonstrated steady expansion due to a combination of factors such as growing urbanization, inadequate access to safe drinking water in certain regions, and consumer preference for convenient hydration solutions. The rise in gastrointestinal diseases due to contaminated water has heightened the demand for purified bottled water, especially in developing regions. Governments and international health organizations are also promoting safe drinking water solutions, further boosting market growth. Additionally, product innovation, such as electrolyte-infused and alkaline water, has driven consumer interest, contributing to the overall expansion of the market.

Competitive Landscape

The bottled water market is highly competitive, with numerous international and regional players vying for market share. Some of the leading companies include Nestlé Waters, PepsiCo Inc., The Coca-Cola Company, Groupe Danone, Bisleri International, Parle Agro, FIJI Water Company LLC, and Tata Global Beverages Ltd. Companies are focusing on product diversification, sustainability initiatives, and strategic partnerships to maintain a competitive edge. For instance, Icelandic Glacial signed an exclusive deal with Icelandair as its official in-flight water partner in January 2023, showcasing the importance of strategic alliances in market growth. Furthermore, price revisions and shifts towards recycled PET bottles, such as those implemented by Suntory Beverage & Food Ltd., highlight industry efforts toward sustainability.

Market Segmentation

The bottled water market can be categorized based on product type, packaging, and sales channel:

Product Type: The key segments include still bottled water, carbonated bottled water, flavored bottled water, and functional bottled water. While still bottled water remains dominant, flavored and functional water are gaining traction due to their perceived health benefits.

Packaging: The industry predominantly utilizes PET bottles, glass bottles, and other alternatives like stand-up pouches and retort pouches. PET bottles continue to be the most widely used due to their lightweight and break-resistant properties.

Sales Channel: Distribution occurs through supermarkets/hypermarkets, convenience stores, grocery stores, food service outlets, and other retail channels. Supermarkets and hypermarkets remain the preferred choice for consumers due to their wide product availability and promotional discounts.

Regional Analysis

Asia Pacific is anticipated to hold the largest market share from 2023 to 2031, driven by rapid population growth and concerns over water contamination in countries like India and China. The region's booming consumer base, coupled with increased disposable income and heightened awareness of hygiene, is driving significant demand for bottled water. North America and Europe also hold substantial market shares due to high consumer spending and preference for premium bottled water products. Meanwhile, Latin America, the Middle East, and Africa are emerging markets witnessing steady growth due to rising health concerns and improving economic conditions.

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Future Outlook

The future of the bottled water market is shaped by health trends, sustainability, and technological advancements. Companies are expected to focus on biodegradable and recyclable packaging to minimize environmental impact. Innovation in nutrient-fortified water, such as electrolyte-rich and vitamin-enhanced options, will further drive market expansion. Additionally, regulations on plastic usage and increasing consumer preference for glass and aluminum packaging could influence market dynamics. The industry will likely see more strategic collaborations and mergers to enhance global reach and supply chain efficiency.

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