Bottled Water - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Bottled Water - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Bottled Water Market size is estimated at USD 336.21 billion in 2024, and is expected to reach USD 452.90 billion by 2029, growing at a CAGR of 6.14% during the forecast period (2024-2029).

Extensive restrictive measures set up by governments around the world to combat the global coronavirus outbreak have been creating logistical challenges for the bottled water processing sector. There are number of initiatives taken by manufacturers to support the growth of the market even during the COVID-19 pandemic. For instance: In Sep 2020, global food and beverage company PepsiCo is announced to hand out 35,000 bottled water and canned soft drinks to UAE workers in partnership with social support volunteering organisation Draw a Smile

The demand for bottled water rose in the initial months of lockdown stemmed from the stockpiling attitude of consumers in anticipation of lockdowns and scarcity. The trend, however, soon declined further, coupled with decreased sales caused due to setbacks of the tourism industry globally.

The demand for bottled water is driven by the fear of diseases as an aftermath of drinking contaminated tap water and the easy portability and convenience provided by bottled water. Environmental pollution caused by plastic trash poses a challenge for the market's growth. The consumption of bottled water leads to health hazards.

Bottled Water Market Trends

Growing Preference for Functional Water in North America

Functional water is vitamin-enriched waters that have gained consumer popularity for convenience, perceived health benefits, and improved flavor over tap water. There are increasing concerns regarding various health problems such as digestive issues, weight gain, heartburn, etc. due to which consumers are preferring a healthier option like functional water and flavored water.

Compared to other RTD beverages, functional waters are comparatively inexpensive and various packaging options, like containers and single-serve bottles, are making it more popular among consumers, thereby driving the growth of the functional water market. The rapid demand for fortified beverages is attributed to the inclusion of essential ingredients, such as protein, amino acids, vitamins, and minerals in various functional beverages. The introduction of new and innovative types of functional water from the beverage manufacturing companies that are engaged in the production of water from the modified blends of protein and minerals is likely to fuel the growth of the market.

North America Dominates the Market

In developed economies, like the United and Canada, functional water is constantly becoming a major commercial and popular beverage category, as it is an appealing option for health-conscious consumers. Hence, this is augmenting the bottled water market. Bottled water has remained the most profitable section of the beverage consumption market according to International Bottled Water Association (IBWA). Hence, this is augmenting the bottled water market. Major manufacturers and marketers in the country have started to position functional water as an alternative to carbonated drinks and fruit juices. Through product description, modern and interactive labeling and backing from respected brands and organizing programs and seminars, the players are claiming that functional water is an enriched product that is not just for hydration but also can function as a functional beverage.

Bottled Water Industry Overview

The bottled water market is highly competitive, attributed to the number of small players involved in the country and regional marketplace. Apart from convenience being the key factor, product innovation is a prominent move that the major players undertake to stay ahead in the market. Major players in the market are adopting a number of strategies, including mergers & acquisitions, collaborations, product launches, and expansion of products, on account of capturing the major market share and expanding their customer base across the globe. Product differentiation has gained significant traction over the past years. Regional or domestic companies have been marketing their products with strategies, such as sponsorship and significant investment in advertisements. Some of the globally renowned companies in the market include Danone SA, The Coca-Cola Company, Pepsico, and Nestle SA.

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• The market estimate (ME) sheet in Excel format
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