U.S. And Canada Premium Bottled Water Market Size, Share & Trends Analysis Report By Product (Spring Water, Mineral Water, Sparkling Water), By Distribution Channel, By Country, And Segment Forecasts, 2023 - 2030

U.S. And Canada Premium Bottled Water Market Size, Share & Trends Analysis Report By Product (Spring Water, Mineral Water, Sparkling Water), By Distribution Channel, By Country, And Segment Forecasts, 2023 - 2030

U.S. And Canada Premium Bottled Water Market Growth & Trends

The U.S. and Canada premium bottled water market is expected to reach USD 10.79 Billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 7.6% from 2023 to 2030. The rising income of the citizens, increasing number of adults moving to cities, and surging number of working families seeking convenience are a few factors that are contributing to the market growth. Better market access due to trade liberalization and infrastructure improvements have increased the year-round access to premium bottled water in the U.S.

With rising digitalization, increasing penetration of smartphones, and growing access to the internet, businesses are gradually shifting from brick-&-mortar stores to e-commerce platforms. Manufacturers are showcasing their products across online platforms, such as company-owned portals and e-retailing, to expand product visibility, especially in emerging markets. Rapid digitalization across all aspects of e-commerce has positively impacted product penetration across the U.S. and Canada.

For instance, according to a new national survey of more than 2,000 U.S. adults aged 18 and older conducted online by The Harris Poll on behalf of the International Bottled Water Association (IBWA), in January 2020, more than 9 in 10 Americans (91 percent) say bottled water should be available wherever other drinks are sold. These online polls depict the human behavior and purchase patterns which help the market players to introduced new products in line.

In terms of product, the U.S. and Canada premium bottled water market is segmented into spring water, sparkling water, and mineral water, among others. Rising focus on establishing a healthy lifestyle, coupled with consumer perception regarding the health benefits of spring water, is likely to drive the demand for premium bottled spring water over the forecast period.

Growing concerns over high sugar content and sweeteners in carbonated drinks have played a prime role in driving the consumer preference for premium bottled water variants such as spring water. Furthermore, increasing consumer preference for completely natural drinking water sourced from natural springs is anticipated to drive the demand for bottled spring water.

U.S. And Canada Premium Bottled Water Market Report Highlights

• The U.S. premium bottled water market had been a catalyst for much of the global expansion up until the mid-2000s, and its ongoing growth continues to contribute to the overall market’s enlargement.
• Larger companies like PepsiCo, Keurig Dr Pepper, and The Coca-Cola Company have noted the recent success of certain flavored and carbonated water products such as PepsiCo’s LIFEWTR. In September 2020, PepsiCo signed an agreement to distribute Danone’s bottled water brand Evian in Canada.
• Premium bottled water’s rapid rise has coincided with and contributed to major changes in consumer preferences for refreshment and rehydration. Premium bottled water has become the preferred beverage option for all consumers across the country-not just those aiming to reduce caloric intake or lessen artificial sweetener usage.

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