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Bottled Water Market
The demand for bottled water has been growing during the last decade, owing to health and wellness concerns. Beverage companies are improving their packaging due to environmental concerns. Coca-Cola has reduced its cap size in bottles that are 24 ounces or smaller in order to reduce the plastic intake by the company. The bottled water industry was valued at USD 185 billion in 2015 and is expected to reach USD 334 billion by 2023, registering a 8.5% CAGR during the forecast period 2018-2023.
Market Dynamics
The bottled water industry is driven by the health concerns regarding drinking water. Changing lifestyles, preference for vitamin and minerals rich drinking water, and ease of handling and portability of bottled water are some of the factors driving the market. Bottled water manufacturers are introducing new products with health benefits and new flavors. It is resulting in several product launches in the bottled water market. The new products are offering functional benefits, convenience and better taste which are preferred by consumers. The growth of PET bottles sector globally has also helped in the widespread supply of bottled water, through wide network organized markets as well as several grocery and club stores. These factors are expected to boost the growth of the bottled water market in the near future.
However, there are a few restraints slowing down the pace of the industry, such as the environmental pollution through plastic bottles. This issue has encouraged the initiation of several stringent government regulations regarding the use of recyclable packaging solutions and adopting ways to help reduce carbon footprint of the industry. An instance is the European Parliament and Council Directive 94/62/EC. It requires the member states to enforce regulations regarding increased use of reusable or recoverable packaging, volume to reduce hazardous substances and materials and reduction of packaging weight in the packaging, and meet packaging material recovery and recycling targets. Such regulations will hamper the overall development of the global bottled water market. Lack of awareness regarding the health issues associated with low-cost tap water is also a restraining factor.
The major opportunities identified for the bottled water industry are innovative products with minimum environmental and health hazards and penetration in developing markets.
Market Segmentation
The bottled water market can be segmented by types, flavor, distribution channel, and packaging. Still water is the largest sub-segment of bottled water, accounting for more than 65% of the demand, followed by carbonated water. Product innovation in terms of flavor and packaging has triggered the flavored water demand. The segment of still bottled water has dominance in terms of both revenue and volume in the global market. The segment is expected to account for a share of 78% of overall market revenue by 2022. The flavored water segment is expected to witness rapid growth during the forecast period.
Regional Analysis
Asia-Pacific is the largest market in terms of revenue and total consumption, accounting for 33% market share. It is also the fastest growing market for bottled water, covering more than one-thirds of the market demand, supported by the large population, high demand, untapped market and demography, and rapid urbanization. As a result, there is business expansion by almost all the big players in the market. Led by China and India, Asia-Pacific is expected to register the highest CAGR during the forecast period. Europe is the second largest market, with 28% market share. Other regions like North America, South America, and Africa have a significant share of the bottled water market. North America is a saturated market with steady demand and the highest per capita bottled water consumption currently. U.S. bottled water market has hit an historic high point in 2015, when volume exceeded 11.7 billion gallons.
Competitive landscape
Major players – AJEGROUP SA, CG ROXANE, LLC, FONTI DI VINADIO SPA, GROUPE DANONE, GRUPO VICHY CATALAN, HANGZHOU WAHAHA GROUP CO. LTD, HASSIAWATERS INTERNATIONAL GMBH & CO. KG, ICELANDIC WATER HOLDINGS EHF, MOUNTAIN VALLEY SPRING COMPANY LLC, NESTLE SA, PEPSICO INC. and THE COCA-COLA COMPANY, among others.
The bottled water market is fragmented due to the presence of a large number of private label brands and local bottlers. More than 60% of the global market is covered by regional and national level players. The competition is reported to be huge mostly in North America and Europe, where the markets are saturated with slow growth and steady demand. The growing demand for thirst crunching products, health and hygienic concerns, multiple market distribution channels, and social acceptance of bottled water are expected to help the market grow at a good pace. The competition is steadily increasing. The internal competition in the bottled water market is comparatively high owing to a large number of major providers of bottled water products and increase in the number of small domestic players in the market. The global bottled water industry is facing external competition from producers & distributors, which are adopting forward and backward integration strategies to develop their own facilities to produce bottled water.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
• Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
The demand for bottled water has been growing during the last decade, owing to health and wellness concerns. Beverage companies are improving their packaging due to environmental concerns. Coca-Cola has reduced its cap size in bottles that are 24 ounces or smaller in order to reduce the plastic intake by the company. The bottled water industry was valued at USD 185 billion in 2015 and is expected to reach USD 334 billion by 2023, registering a 8.5% CAGR during the forecast period 2018-2023.
Market Dynamics
The bottled water industry is driven by the health concerns regarding drinking water. Changing lifestyles, preference for vitamin and minerals rich drinking water, and ease of handling and portability of bottled water are some of the factors driving the market. Bottled water manufacturers are introducing new products with health benefits and new flavors. It is resulting in several product launches in the bottled water market. The new products are offering functional benefits, convenience and better taste which are preferred by consumers. The growth of PET bottles sector globally has also helped in the widespread supply of bottled water, through wide network organized markets as well as several grocery and club stores. These factors are expected to boost the growth of the bottled water market in the near future.
However, there are a few restraints slowing down the pace of the industry, such as the environmental pollution through plastic bottles. This issue has encouraged the initiation of several stringent government regulations regarding the use of recyclable packaging solutions and adopting ways to help reduce carbon footprint of the industry. An instance is the European Parliament and Council Directive 94/62/EC. It requires the member states to enforce regulations regarding increased use of reusable or recoverable packaging, volume to reduce hazardous substances and materials and reduction of packaging weight in the packaging, and meet packaging material recovery and recycling targets. Such regulations will hamper the overall development of the global bottled water market. Lack of awareness regarding the health issues associated with low-cost tap water is also a restraining factor.
The major opportunities identified for the bottled water industry are innovative products with minimum environmental and health hazards and penetration in developing markets.
Market Segmentation
The bottled water market can be segmented by types, flavor, distribution channel, and packaging. Still water is the largest sub-segment of bottled water, accounting for more than 65% of the demand, followed by carbonated water. Product innovation in terms of flavor and packaging has triggered the flavored water demand. The segment of still bottled water has dominance in terms of both revenue and volume in the global market. The segment is expected to account for a share of 78% of overall market revenue by 2022. The flavored water segment is expected to witness rapid growth during the forecast period.
Regional Analysis
Asia-Pacific is the largest market in terms of revenue and total consumption, accounting for 33% market share. It is also the fastest growing market for bottled water, covering more than one-thirds of the market demand, supported by the large population, high demand, untapped market and demography, and rapid urbanization. As a result, there is business expansion by almost all the big players in the market. Led by China and India, Asia-Pacific is expected to register the highest CAGR during the forecast period. Europe is the second largest market, with 28% market share. Other regions like North America, South America, and Africa have a significant share of the bottled water market. North America is a saturated market with steady demand and the highest per capita bottled water consumption currently. U.S. bottled water market has hit an historic high point in 2015, when volume exceeded 11.7 billion gallons.
Competitive landscape
Major players – AJEGROUP SA, CG ROXANE, LLC, FONTI DI VINADIO SPA, GROUPE DANONE, GRUPO VICHY CATALAN, HANGZHOU WAHAHA GROUP CO. LTD, HASSIAWATERS INTERNATIONAL GMBH & CO. KG, ICELANDIC WATER HOLDINGS EHF, MOUNTAIN VALLEY SPRING COMPANY LLC, NESTLE SA, PEPSICO INC. and THE COCA-COLA COMPANY, among others.
The bottled water market is fragmented due to the presence of a large number of private label brands and local bottlers. More than 60% of the global market is covered by regional and national level players. The competition is reported to be huge mostly in North America and Europe, where the markets are saturated with slow growth and steady demand. The growing demand for thirst crunching products, health and hygienic concerns, multiple market distribution channels, and social acceptance of bottled water are expected to help the market grow at a good pace. The competition is steadily increasing. The internal competition in the bottled water market is comparatively high owing to a large number of major providers of bottled water products and increase in the number of small domestic players in the market. The global bottled water industry is facing external competition from producers & distributors, which are adopting forward and backward integration strategies to develop their own facilities to produce bottled water.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
• Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
