The global bottled water market value was USD 282.82 billion by 2021. This market is expected to grow at a 6.5% compound annual growth rate between 2022 and 2030. Increased concerns about various health issues such as gastrointestinal problems caused by drinking contaminated water have led to a greater demand for packaged options that are clean and hygienic.
Bottled Water Market’s goal is to develop buyer mindfulness about the medical benefits of using bottled water. Bottled Water can be defined as a bundled water source, such as mineral water, refined water, water divider, and spring water. It may be carbonated and available in various sizes, from single-serving jugs to larger containers.
Growing Demand
Bottled water demand rose during the first months of lockdown due to consumers’ stockpiling in anticipation of shortages and lockdowns. This trend soon declined, and sales decreased due to setbacks in the tourism industry worldwide.
Fear of getting sick from tap water contamination is driving the demand for bottled drinking water. Bottled water also offers convenience and portability. Plastic trash is a problem that could limit the market’s ability to grow. Drinking bottled water can pose health risks.
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Driving Factors
An increase in openness to medical issues in countries has led to purchasers. India, China, Indonesia, and other Asian countries have had a positive impact on the Bottled Water Market. Customers are shifting from sweet carbonated beverages towards better options. This shift has significantly contributed to the rapid development of the bottled-water industry over the projected time frame.
Restraining Factors
From 2011 to 2016, there was a lot of plastic water bottles on roads and garbage bins all over the world. Online media platforms and online gatherings were created to promote mindfulness and coordinate efforts against the unwise removal of plastic water bottle. This caused negative exposure for the global filtered-water industry and urged governments to set strict guidelines regarding the recycling of bundling arrangements. San Francisco was forced to abandon plastic water bottles due to the improper removal.
Market Key Trends
Functional water is a water that has been enriched with vitamins. It is gaining popularity because of its convenience, perceived health benefits and better flavor than tap water. There are growing concerns about various health issues such as heartburn, weight gain, and digestive problems. Consumers are choosing healthier options like flavored and functional water.
Functional waters are more affordable than other RTD beverages. They also come in a variety of packaging options such as single-serve bottles and containers. This is driving the growth and popularity of functional water. Including essential ingredients such as vitamins and minerals in functional beverages has led to a rapid increase in demand for fortified beverages. It is expected that the growth of this market will be fueled by the introduction of innovative functional water products from beverage manufacturing companies involved in producing water derived from modified blends protein and minerals.
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Recent development
Agthia Group PJSC announced the dispatch of Al Ain Plant bottle, an area’s first water bottle made from plants, in February 2020. Veolia, an international innovator in advanced asset management, also endorsed Agthia’s MoU to send a PET water bottle assortment driver in the United Arab Emirates.
Nestle SA sold its bottled water business in America and Canada to One Rock Capital Partners, a private equity firm, for USD 4.3 billion. This was renamed BlueTriton Brands.
Primo Water Corporation announced in October 2020 that it had acquired Mountain Valley Water Company Los Angeles. This will bring the total number of customers to more than 8,000.
Agthia Group PJSC launched Al Ain Plant Bottle in February 2020. This is the first region-wide plant-based water container. Veolia, the global leader in optimizing resource management, signed a MoU with Agthia to establish a PET water bottle collection program in the United Arab Emirates.
Key Companies
- Nestle waters
- Coca-Cola Company
- PepsiCo
- Primo Water Corporation
- DANONE S.A
- FIJI water Company LLC
- VOSS WATER
- National Beverage Corp.
- Other Key Players
Segmentation
Product
- Spring Water
- Purified Water
- Mineral Water
- Sparkling Water
- functional water
- Others
Distribution Channel
- Off-trade
- On-trade
Key questions
- How big is the Bottled-Water Industry worth?
- What is the expected CAGR in Bottled Water Market for 2021-2031?
- What are the U.S. demand prospects for bottled waters?
- Which water type can be expected to see maximum sales?
- How big is the Bottled water market?
- What are the key players on the Bottled Water Market?
- What is the market growth for bottled water?
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WHAT TO TAKE AWAY FROM THIS ARTICLE:
- Veolia, the global leader in optimizing resource management, signed a MoU with Agthia to establish a PET water bottle collection program in the United Arab Emirates.
- It is expected that the growth of this market will be fueled by the introduction of innovative functional water products from beverage manufacturing companies involved in producing water derived from modified blends protein and minerals.
- Veolia, an international innovator in advanced asset management, also endorsed Agthia’s MoU to send a PET water bottle assortment driver in the United Arab Emirates.
