2024 Market Report by Kings Research "Bottled Water Market Size, Share and Ranking, Overall Sales and Demand Forecast 2024-2031" provides an extensive examination of bottled water industry attributes, assessments, and growth projections through segmentation, regional analyses, and country-specific insights, alongside a scrutiny of the competitive landscape, player market shares, and essential business strategies.
Bottled Water Market Size was valued at US$ 268.66 Billion in 2023 and is projected to grow from USD 300.95 billion in 2024 to USD 743.33 billion by 2031, exhibiting a CAGR of 13.79% during the forecast period.
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Key Players in the Bottled Water Market:
- Danone
- Smeraldina Corporation
- The Coca‑Cola Company
- FIJI Water Company
- Nestle
- Bisleri International Pvt
- Perrier
- SANPELLEGRINO
- Volvic
- Icelandic Glacial
Key Industry Developments:
April 2024 (Rebranding): Nestlé Waters North America (NWNA) announced its new corporate name BlueTriton Brands, following its acquisition by One Rock Capital Partners, LLC and Metropoulos & Co. This rebranding reflects the company’s commitment to sustainable resource management and its role as a provider of fresh water.
Drivers of Market Growth: Health, Convenience, and Accessibility
The bottled water market's sustained growth is propelled by several key drivers:
Growing Health Consciousness: Consumers are increasingly prioritizing health and wellness, leading to a shift away from sugary drinks and towards healthier alternatives like bottled water. The perception of bottled water as a pure, safe, and hydrating beverage is a significant driver of its popularity.
Convenience and On-the-Go Consumption: The fast-paced lifestyles of modern consumers are fueling the demand for convenient and portable beverage options. Bottled water offers unparalleled convenience, making it an ideal choice for on-the-go consumption, whether at work, during travel, or while exercising.
Key Segment Insights:
Still Water Dominance: Still water remains the largest segment in the bottled water market, driven by its widespread availability, affordability, and perceived health benefits.
Sparkling and Flavored Water Growth: Sparkling and flavored water segments are experiencing rapid growth, driven by increasing consumer demand for innovative and refreshing beverage options.
PET Bottle Popularity: PET bottles remain the dominant packaging format, due to their lightweight, durable, and cost-effective nature. However, there is a growing trend towards more sustainable packaging options.
Supermarket and Hypermarket Dominance: Supermarkets and hypermarkets remain the primary distribution channels for bottled water, due to their wide reach and extensive product offerings.
Online Retail Expansion: Online retail is experiencing significant growth in the bottled water market, driven by the increasing popularity of e-commerce and the convenience of online shopping.
Future Outlook and Opportunities:
The bottled water market is expected to continue its growth trajectory in the coming years, driven by the factors mentioned above. Key trends that are expected to shape the market include:
Increased Focus on Sustainability: The bottled water industry will increasingly focus on reducing its environmental footprint through the use of sustainable packaging and production practices.
Challenges and Considerations:
Environmental Concerns: The environmental impact of plastic waste is a major concern for the bottled water industry.
Regulatory Issues: Regulations related to water quality and labeling can vary across regions, creating complexities for bottled water companies.
Competition from Alternative Beverages: The bottled water market faces competition from other beverages, such as flavored water, sparkling water, and enhanced water.
Price Sensitivity: Consumers can be price-sensitive, particularly in developing economies.
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