Global Bottled Water Market | Growth | Trends | Forecast
21 05 2019
Bottled water is packaged drinking water available in plastic and glass water bottles. It is pure and free from contamination and the most convenient way for the body to fulfill its hydration needs, and is easily available in nearby retail stores and supermarkets.
Bottled water is drinking water which can be distilled water, mineral water or spring water. It is packed in plastic or glass water bottles. Bottled water is the most convenient way to fulfill the hydration needs of an individual. Some bottled water is carbonated and is called sparkling water. This water has a "fizz" that is usually created by carbon dioxide gas. Water without the added carbonation is still water. Urbanization and increasing economic stability throughout the world is expected to drive the bottled water market in the upcoming period.
The rise in healthcare awareness among individual about waterborne diseases such as malaria, typhoid, diarrhea, food poisoning, etc. is expected to remain the dominant force driving the demand for the bottled water market. Furthermore, higher growth of carbonated water on account of better health benefits and added nutrients is also projected to influence the bottled water market significantly. Moreover, the demand for bottled water in the soft drink industry is expected to fuel the bottled water market. At the same time, growing awareness regarding the benefits of bottled water coupled with increasing preference for an active lifestyle is expected to generate untapped opportunity for the bottled water market.
The global bottled water market is segmented on the basis of product type, packaging and distribution channel. Based on product type, the market is segmented into still bottle water, carbonated bottle water, flavored bottle water, and functional bottle water. On the basis of packaging the market is segmented into pet bottles and glass bottles. On the basis of distribution channel the market is segmented into super/hypermarket, convenience/drug stores, grocery stores/club stores, and foodservice/vending.
The global bottled water market is also segmented on the basis of type and geography. Based on type, it is classified into still water, carbonated water, flavored water, and functional water. In 2015, the still water segment held the largest market share, accounting around two-thirds of the total market share and is expected to maintain this trend during the forecast period. In terms of geographical analysis, in 2015, Asia-Pacific dominated the market, with market share of 35.6%, followed by Europe at 27.1%. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top players in the market invest huge capital in R&D activities to develop enhanced products to cater to the current demand. Major players in the bottled water market are as follows:
- PepsiCo Inc.
- Nestle Waters
- The Coca Cola Company
- Hangzhou Wahaha Group Co., Ltd.
- Natural Waters of Viti Ltd.
- Mountain Valley Spring Company
- Icelandic Glacial Inc.
The global bottled water market has witnessed increased growth in the recent past, owing to changing lifestyle patterns of consumers as they are more inclined towards bottled water and its portable and convenient nature. The market is anticipated to reach a market value of $319,860 million by 2022, growing at a CAGR of 9.5% between 2016 and 2022.
In addition, rise in health awareness about waterborne diseases such as malaria, typhoid, diarrhea, food poisoning, and others also support market growth. However, stringent regulations for the approval of bottled water and availability of tap water at a lower cost impede this growth. Furthermore, the harmful effects of using plastic bottles owing to presence of chemicals such as bisphenol A (BPA) can lead to neurological diseases and behavioral problems among children, which further hinders the market growth.
Source : https://thewaternetwork.com/organization-c6k/premium-market-insights-viJKYkZbDdrgDDQdZ-GYog/product/global-bottled-water-market-growth-trends-forecast-0nALjYIl3TX1inMchM9ilA