Global Bottled Water Market Gaining Momentum—Projected to – GlobeNewswire

| Source: BlueWeave Consulting and Research Pvt Ltd BlueWeave Consulting and Research Pvt Ltd
Noida, INDIA
Delhi, NCR, Dec. 27, 2021 (GLOBE NEWSWIRE) —  Global bottled water market is witnessing promising growth due to the increasing consumer awareness regarding clean drinking water, coupled with a flourishing tourism sector. Additionally, the easy availability of bottled water in convenience stores and supermarkets/hypermarkets are expected to drive the global bottled water market during the forecast period……
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global bottled water market was worth USD 230.4 billion in 2020. According to the research report, the market is projected to grow at a CAGR of 8.3% (2021-2027), accumulating revenue of around USD 405.2 billion by the end of 2027. The global bottled water market is thriving because of the increasing water pollution levels and declining access to clean and safe drinking water. Furthermore, increasing consumer awareness regarding clean drinking water, coupled with a flourishing tourism sector and easy availability of bottled water from convenience stores and supermarkets/hypermarkets, are expected to drive the growth of the bottled water market during the forecast period. However, one of the major obstacles that is hampering market growth is increased environmental pollution caused by single-use plastic water bottles. Furthermore, stringent government regulations regarding the use of plastic water bottles also impedes the growth of the global bottled water market.
Increasing Consumer Awareness Towards Clean Drinking Water Projected to Drive the Market Growth
Increasing consumer awareness towards various health problems caused by contaminated water, such as neurological disorders, gastrointestinal diseases, and reproductive problems, is driving demand for clean and hygienic bottled water. In addition, as the demand for healthier alternatives grows, industry participants are focusing their efforts on providing more nutritional beverages to end users, such as flavoured water and functional water According to Our World in Data, a scientific online publication, one in four people worldwide do not have access to safe drinking water. Clean drinking water provides essential nutrients to body, improves digestion, regulates the body’s chemistry, and helps maintain an average body temperature. Thus, the demand for bottled water to access safe drinking water is expected to rise in the coming years as the quality of tap water deteriorates.
Growing Demand for Sparkling and Flavoured Drinking Water Anticipated to Boost the Growth of Global Bottled Water Market
Plain and flavored varieties of still and sparkling water have become global favorite in recent years. Sparkling water can be defined as water that is treated with pressurized carbon dioxide gas. Since sparkling and flavored water contain zero calories and no sweeteners, they are highly popular among younger demographics trying to cut back on carbonated and sugary drinks. In order to capitalize on these opportunities, numerous bottled water brands are launching a range of flavored products to appeal to the diverse consumer base, which will boost their sales and expand their market share. Furthermore, stringent regulations by the US government, and the Food and Drug Administration (FDA) on bottled water have increased consumers’ faith in such products, which in turn is propelling the market forward. Furthermore, with the growing trend of serving sparkling water with meals in restaurants, the developed markets of the United States, France, Canada, Germany, and the United Kingdom are likely to fuel the demand for sparkling water during the forecast period.
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The Off-Trade Distribution Channel is Driving the Global Bottled Water Market
The global bottled water market is categorized into on-trade and off-trade segments based on distribution channels. The off-trade segment is further classified into supermarkets/hypermarkets, convenience stores, retail stores, specialty stores, online channels, home and office delivery, and others. Among these sub-segments, the retail store segment accounts for the largest market share owing to the presence of a high number of such stores, especially in middle and low-income countries. However, in developed countries, convenience stores and supermarkets/hypermarkets are popular places to purchase bottled water; thus, this market segment is also growing rapidly. On the other hand, the on-trade segment also covers a substantial share in the market because of the expanding hospitality sector and increasing demand for bottled water in hotels, airports, offices, restaurants, cafes, etc.
Asia-Pacific Dominated the Global Bottled Water Market
Geographically, the bottled water market is segmented into North America, Europe, the Asia-Pacific, Latin America, and the Middle-East & Africa. Among these, the Asia-Pacific region holds the largest market share..An increasing preference for bottled water primarily drives the regional market as a result of increased health concerns associated with the consumption of contaminated water. Changing water consumption habits, expanding organized retail sectors, and the launch of innovative products such as flavored water,  all contribute to the growth of the bottled water market in the Asia Pacific..
North America also covers a substantial share in the market due to the high demand for sparkling and flavored water in the region. From 1977 to 2019, the volume of bottled water had climbed every year except for a couple of minor reductions during the great recession of 2008 and 2009, when the volume of a majority of beverage categories also declined due to the financial crisis. The steady rise in per capita consumption of bottled water demonstrates that consumers consider this healthy alternative to other packaged beverages. A majority of bottled water sold in the United States comes from within the domestic market. In fact, imported bottled water barely accounts for 1.9% of the market in the United States. Most of the bottled water companies in the United States are small, community-based companies that rely on local water sources and distribute their goods within a 300-mile radius of their facilities.
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Impact of COVID-19 on the Global Bottled Water Market
The demand for bottled water witnessed a significant surge as a result of widespread home isolation orders around the world in light of the COVID-19 pandemic. The stockpiling mindset of consumers in anticipation of lockdowns and scarcity drove up demand for bottled water across the globe in the early phase of the lockdown. At the same time, lockdown imposed by several governments across the globe to curb the spread of the virus restricted production and disrupted the operations and distribution channels of small and mid-size players. The manufacturers, therefore, suffered severe losses as a result of their inability to meet the swelling demand during the quarantine period.
The IBWA (International Bottled Water Association) reports that some of the industry’s leading players had to increase their production capacities to meet market demand and government regulations. Increased bottling capacity, increased production, improved packaging materials, and collaboration with retailers to assess demand are all instances of the growing popularity of bottled water. Furthermore, as customers have become more aware of health and hygiene standards, the current situation has increased the demand for transparency in the sector.
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Global Bottled Water Market – Competitive Landscape
The leading players in the global bottled water market are Nestlé Waters, Mountain Valley Spring Company, Hangzhou Wahaha Group Co., Ltd., Icelandic Glacial Inc., The Coca Cola Company, Danone, Dasani, PepsiCo Inc., Icelandic Glacial Inc., Natural Waters of Viti Ltd., Otsuka Pharmaceutical Co. Ltd, FIJI Water Company LLC, Hana Water-Hana Food Industries Co., Voss Water, Binzomah Group, National Beverage Corp., Vichy Catalan Corporation, Sunny Delight Beverages Company, CG Roxane, LLC, and other prominent players.
The market is consolidated in nature, due to the presence of several well-established players as well as multiple small and medium-sized players. The Coca-Cola Company, Nestle, PepsiCo, Voss Water, etc., are some of the large players who enjoy immense consumer brand loyalty. Nonetheless, several smaller and medium-sized firms are also emerging with tough competition in the regional markets. Furthermore, they also adopt market strategies, such as collaboration, partnerships, product launch, and mergers & acquisitions (M&As), to gain a competitive edge and boost their sales and revenue. For instance, Chilled launched cannabidiol water in France in June 2020. The 250 ml can hold spring water from Austria, 15 mg of cannabidiol from Switzerland, and a white hibiscus infusion sourced from Senegal. The 15 mg of cannabidiol is thought to help with stress and anxiety relief as well as concentration.
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The report’s in-depth analysis provides information about growth potential, upcoming trends, and statistics of the global bottled water market. It highlights the factors driving forecasts of total market size. The report also promises to provide recent global technology trends and industry insights pertaining to the global bottled water market to help decision-makers make sound strategic decisions. Furthermore, the report analyses the market’s growth drivers, challenges, and competitive dynamics.
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