Global Bottled Water Market - 2022-2029

Global Bottled Water Market - 2022-2029

Market Overview

Bottled water is packaged drinking water that is free from contamination and purified. Being easily available in supermarkets and retail stores, bottled water is mostly available in glass and plastic water bottles, and is the most convenient way for the body to fulfill its hydration needs. The global bottled water market is expected to grow in the forecast period due to the rising demand for clean and hygienic packaged options as awareness of various health issues, such as gastrointestinal diseases brought on by drinking contaminated water, grows. Drinking water shortages in several areas further increase the need for safe drinking water, which drives product sales and boosts market expansion. Additionally, expanding innovative work initiatives and modernizing new products will create new opportunities for the bottled market during the forecast period.

The global bottled water market was valued at USD 2,438.64 million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 5.98% during the forecast period (2022-2029

Market Dynamics

The market is expanding due to consumer health concerns

As more people become aware of various health problems, including neurological illnesses, reproductive problems, and gastrointestinal diseases, the demand for safe and hygienic bottled water is increasing. The market for bottled water has benefited from consumer worries about rising obesity rates and a rise in public awareness of health issues in nations like China, India, and Indonesia. Healthy substitutes have been replacing sugary carbonated drinks among consumers. This change had a sizable impact on the forecasted growth of bottled water.

On the other hand, significant factors influencing the growth of the bottled water market include an increase in the number of urban residents, higher disposable income, higher standards of living, and the development of environmentally friendly packaging materials. Additionally, there has been increased demand from business travelers, workers, and domestic consumers. Over the past few years, consumers have become more and more interested in products that bear the descriptions alkaline, electrolyte-rich, fortified, caffeinated water, and fortified with additional hydrogen or oxygen.

However, the consumption of bottled water carries health risks. Bottled water producers are under increasing pressure from environmentalists for their manufacturing practices because extracting, processing, and bottling water require a lot of energy. This problem is complicated by the environmental harm caused by improper plastic bottle disposal, which will likely prevent the US bottled water market from growing further.

Market Segmentation: Mineral water segment accounted for the highest share of the global bottled water market

Natural water with at least 250 parts per million of total dissolved solids is mineral. The constant level and relative proportions of mineral and trace elements at the point of emergence from the source, set mineral water apart from other types of bottled water. According to the Safe Drinking Water Foundation (SDWF), this product cannot be supplemented with minerals.

According to International Bottled Water Association (IBWA), in 2021, the off-trade segment's revenue share was greater than 85%. All retail establishments, including traditional stores, mini markets, convenience stores, supermarkets, and hypermarkets, are included in this segment. The convenience of choosing the required brand of bottled water with a specific combination of minerals quickly will drive market expansion during the forecast period. Aquafina, Dasani, Nestlé, and Danone are some of the brands sold by the mentioned stores in the market.

Geographical Penetration: North America is the dominating region during the forecast period

North America is anticipated to experience strong growth during the forecast period. According to the International Bottled Water Association (IBWA), in 2021, Americans drank 15 billion gallons of bottled water, an increase of 4.2% from 2010. (Compared to a 3.7 percent increase the previous year). Accordingly, each American consumed 45.2 gallons of bottled water on average in 2020, an increase of 3.5 percent from the year before. Additionally, retail dollar bottled water sales increased in 2020 by 4.7 percent to $36.3 billion. People are choosing to consume fewer calories, and bottled water as a healthy alternative has the added advantage of benefiting the environment. Bottled water uses a lot less plastic than other packaged beverages and its packaging is 100% recyclable (including the cap).

On the other hand, Asia Pacific region is anticipated to grow significantly during the forecast period due to increased demand for hygienic consumables due to rising awareness of the value of health and wellness in nations like China, India, Malaysia, and Indonesia. The demand for bottled options is rising along with awareness of the significance of hygienic beverage options, opening up opportunities for market expansion in the area.

Competitive Landscape:

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Over the past few years, product differentiation has gained much momentum. Local or domestic businesses have been using tactics like sponsorship and significant investment in advertising to market their products. The key companies in the market are Bisleri International Pvt. Ltd., Nestle SA, Mountain Valley Water Co., Societe des Eaux Minerales d'Evian SA, The Coca-Cola Company Inc., Primo Water Corporation, GEROLSTEINER BRUNNEN GmbH & Co. KG, Nongfu Spring, TATA Consumer Products Limited, and Glaceau. Major market players are implementing various strategies, such as mergers and acquisitions, collaborations, product launches, and product expansion, to gain the majority of the market share and increase their clientele across the globe. For instance, On February 17th, 2021, Nestle SA agreed to sell its bottled water operations in the United States and Canada to private equity firm One Rock Capital Partners for $4.3 billion.

COVID-19 Impact

Positive impact on the global bottled water market

The bottled water industry faced logistical difficulties due to the extensive restrictions that governments worldwide imposed to combat COVID-19. To meet the increased demand for bottled water in 2020, the International Bottled Water Association (IBWA) reported that bottled water companies increased their production capacities. This entails boosting bottling capacity, acquiring more production and packaging supplies, and speaking with retailers to gauge demand. The demand for purified and ultra-purified bottled options is rising as consumers prioritize their health and wellness. Consumers chose these bottles because they are a healthier alternative to high-calorie, sugary, carbonated drinks like sports drinks and juices. Sales of bottled water increased by 4.7% in 2020, according to a Beverage Industry article from September 2021. A greater preference for a premium or ultra-purified bottled options is being driven by growing awareness of healthy beverages due to informational accessibility and dissatisfaction with quality drinking beverages.

The global bottled water market report would provide an access to approximately 61 market data tables, 53 figures and 114 pages