Bottled Water Market Size to Touch US$ 500.7 Billion By 2030
Bottled Water Market Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021-2030
The bottled water market is anticipated to garner notable gains, registering a CAGR of 9.2% every year, according to a 2022 study by Precedence Research, the Canada-based market Insight Company.
The bottled water market is surging, with an overall revenue growth expectation of hundreds of billions of dollars within the next ten years. The market is expected to grow to US$ 500.7 billion by 2030 from US$ 225.71billion in 2021. The report contains 150+ pages with detailed analysis.
Bottled water is meant for human consumption and sealed in food grade bottles. The rising awareness regarding the ill effects of drinking contaminated water is driving the growth of the global bottled water market across the globe. The growing penetration of food service industry, rising penetration of organized retail sector, and demand for healthy and active lifestyle is significantly propelling the growth of the global bottled water market.
The rising urban population, increasing personal disposable income, improved living standards, and the development of eco-friendly materials for bottles are the several crucial factors accountable for the growth of the bottled water market globally. The rising government initiatives to promote the adoption of eco-friendly and sustainable packaging is expected to drive the demand for the bio-degradable bottled water.
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Crucial factors accountable for market growth are:
- Growing urban population
- Rising health consciousness
- Rising personal disposable income
- Increasing government initiative to reduce plastic wastes
- Rising per capita water consumption
- Growing awareness regarding waterborne diseases
- Scarcity of drinkable water
- Rapid penetration of organized retail sector
Bottled Water Market Report Scope
|Market Size||US$ 500.7 Billion by 2030|
|Growth Rate||CAGR of 9.2% from 2021 to 2030|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
Bottled Water Market Report Highlights
- Based on the product, the purified water segment dominated the global bottled water market in 2020 owing to the increased penetration of desalination facilities across the globe. The easy availability and rising penetration of food service units are the major factors that results in the increased consumption of purified water among the consumers.
- By distribution channel, the others segment is estimated to be the most opportunistic segment throughout the forecast period. This is majorly attributed to the increasing popularity of online food delivery platforms such as Swiggy and Zomato. The rising adoption of smartphones and growing number of internet users across the globe is expected to drive the growth of this segment during the forecast period.
Bottled Water Market Dynamics
Driver – The rising popularity of organic, compostable, and bio-degradable bottles is expected to be one of the major driving forces of the global bottled water market. The increased consumer awareness regarding the deteriorating environmental conditions owing to the extensive use of conventional plastic wastes. Therefore, the demand for the eco-friendly bottles is expected to boost the demand especially in the developed regions like Europe and North America.
Restraints – The improper disposal of plastic bottles is a major factor responsible for the plastic wastes accumulation that takes millions of years to decompose and is a major water pollutant. The rising consumer awareness regarding the water pollution due to plastic wastes may hinder the sales of the bottled water during the forecast period.
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Opportunities – Latest and innovative technologies are used to convert natural sugar of plants into PET plastic bottles for water packaging. Companies like The Coca Cola Company are adopting 100% plant-based material for bottles that are fully recyclable and eco-friendly. These latest developments are expected to pave the way for future growth of the global bottled water market.
Challenges – The rising health consciousness among the consumers may result in the decline in the demand for the carbonated water or sparkling water. Carbonated water can lead to digestive issues, weight gain, and other health issues. This is a challenge for the manufacturers to maintain the revenue streams for the sparkling water segment.
Asia Pacific is the dominating and the fastest-growing market for bottled water during the forecast period. Asia Pacific is characterized by huge population, increased demand for drinkable water, huge youth population, increasing health consciousness, and rising incidences of water contamination owing to rapid industrialization. These are the major factors that are expected to exponentially boost the demand for the bottled water in the region. Further, the region is expected to witness rapid growth of the quick service restaurants and other food service units in the forthcoming years. These restaurants and food service units play a significant role in the sales of the bottled water.
North America and Europe is characterized by increased disposable income, increased health consciousness, improved living standards, and higher awareness regarding the organic products. According to the Organic Trade Association, US witnessed a record high sales of organic food and organic non-food products in the year 2020. Therefore, this trend is expected to continue in the foreseeable future and hence the demand for the organic and eco-friendly packaging solutions will dominate the North American bottled water market throughout the forecast period.
Some of the prominent players in the bottled water market include:
- The Coca Cola Company
- Fiji Water Company
- VOSS Water
- Nongfu Spring
- Primo Water Corporation
- Otsuka Pharmaceutical Co. Ltd.
- RhodiusMineralquellen Und Getranke GmbH & Co KG
By Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
- Grocery Stores
- North America
- Asia Pacific
- South Korea
- Rest of the World
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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