Bottled Water Market Size, Share & Trends Analysis Report By Product (Still Water, Sparkling Water, Functional Water), By Packaging (PET, Cans), By Distribution Channel (On-trade, Off-trade), By Region, And Segment Forecasts, 2023 - 2030

Bottled Water Market Size, Share & Trends Analysis Report By Product (Still Water, Sparkling Water, Functional Water), By Packaging (PET, Cans), By Distribution Channel (On-trade, Off-trade), By Region, And Segment Forecasts, 2023 - 2030

Bottled Water Market Growth & Trends

The global bottled water market size is expected to reach USD 509.18 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 5.9% from 2023 to 2030. Increasing demand for bottled water owing to the rising scarcity of fresh and pure drinking water across the globe is driving the market. Factors such as health benefits with added minerals and nutrients are likely to fuel the demand for bottled water over the forecast period.

Growing awareness regarding the adverse health effects of consuming sugary drinks, such as weight gain, obesity, diabetes, and heart disease, is supporting the consumption of alternative beverages such as still and sparkling water. The trend of switching from sugary drinks to healthier options is observed in several countries such as Germany, the U.S., the UK, and France. This has widened the scope for bottled water across the globe.

Still, the water segment held the largest revenue share in 2022 and is expected to maintain dominance over the forecast period. The rising concerns over the quality and safety of tap water in certain regions have fueled the demand for bottled still water. Consumers, particularly in developing countries or areas with inadequate water infrastructure, view bottled water as a reliable and convenient source of clean drinking water.

The off-trade segment contributed to the majority of revenue share in 2022, owing to the presence of a high number of retail stores across the globe. Further, in developed countries, convenience stores and supermarkets/hypermarkets are popular places to purchase bottled water; thus, this market segment is growing rapidly.

In January 2022, Evian launched its first-ever sparkling water, available in cans and bottles. The new product is part of evian's 'Drink True' global campaign, which aims to celebrate authenticity and honesty. The sparkling water is crafted through a 15-year natural filtration journey in the French Alps and encourages healthy hydration.

The market for bottled water is fragmented, with the presence of a large number of regional and local players. Major companies are focusing on new product launches, capacity expansions, and technological innovations. Some of the key players are Nestlé; PepsiCo; The Coca-Cola Company; DANONE; Primo Water Corporation; FIJI Water Company LLC; Gerolsteiner Brunnen GmbH & Co. KG; VOSS WATER; Nongfu Spring; National Beverage Corp.; and Keurig Dr Pepper Inc.

Bottled Water Market Report Highlights

• The functional bottled water segment is projected to register the fastest CAGR of 6.9% from 2023 to 2030. Consumers are increasingly looking for natural and organic products, and functional bottled water fits this trend. Functional bottled water is often made with natural ingredients, such as vitamins, minerals, and herbs, and it is free of artificial flavors, colors, and preservatives
• The PET segment held the largest market share of more than 80.0% in terms of revenue in 2022 and is expected to maintain dominance over the forecast period. PET packaging stands out in the bottled water market due to its cost-effectiveness when compared to alternative materials like glass or aluminum
• The on-trade channel segment is anticipated to register the fastest CAGR of 6.2% from 2023 to 2030 owing to increasing consumers demanding bottled water when they eat out, and restaurants and bars are happy to oblige, as it is a convenient way to provide their customers with a refreshing drink
• Asia Pacific is expected to register the fastest growth during the forecast period. Strong demand for clean and hygienic drinking water in countries including Indonesia and India is driving the market growth in the region

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