The bottled water market size is estimated to register a substantial CAGR of 6.1% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing number of health-conscious consumers.
Bottled water is purified and contaminant-free drinking water that has been packaged. It comes in plastic and glass bottles, and is the most convenient way for the body to meet its hydration requirements because it is readily available at local retail stores and supermarkets. The market is being pushed by increased healthcare awareness of waterborne diseases including malaria, typhoid, diarrhea, food poisoning, and other illnesses.
The Covid-19 pandemic affected the demand and supply of bottled water market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing number of health-conscious consumers and rising demand for functional water are expected to propel the market in the coming years.
- The ease of consumption and its impact on human nutrition is major factor fueling the market.
- Pollution generated by plastic garbage is anticipated to hamper the market expansion.
- Lack of awareness act as major challenge that can hinder the market growth during the forecast period.
- The introduction of eco-friendly packaging and flavored water with specified substances is expected to create immense opportunities for the market players.
Scope of Bottled Water Market Report
The report on the bottled water market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Bottled Water Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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by Type (Still Water, Sparkling Water, and Functional Water), by Distribution Channel (Off-trade and On-trade)
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Regional Scope
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North America, Europe, Asia-Pacific, South America, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Otsuka Pharmaceutical Co., Ltd., Nestle S.A, Danone S.A., The Coca-Cola Company, and PepsiCo Inc.
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Bottled Water Market Segment Insights
The functional water segment is expected to expand at a rapid pace
On the basis of type, the bottled water market is divided into still water, sparkling water, and functional water. The functional water segment is expected to represent a key share of the market during the forecast period. Health and wellness trends, as well as exquisite product offers from various global and regional companies, are driving demand for functional water.
Growing consumer demand for functional drinks has been a major factor driving the market during the forecast period. The ease of consumption and its impact on human nutrition are two variables that are driving market demand. Growth of the market is likely to be aided by the increased popularity of functional water among the working class and millennial populations.
The off-trade distribution channel is anticipated to expand at a rapid pace
On the basis of distribution channel, the bottled water market is segmented into off-trade and on-trade. The off-trade segment is expected to hold a key share of the market during the forecast period due to convenience of consumption and its impact on health of human. All retail shops such as hypermarkets, supermarkets, and convenience stores are included in the off-trade market. Big grocery chains account for the major sales of the market.
North America is expected to dominate the market
On the basis of regions, the bottled water market is classified as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The market of North America is anticipated to dominate the market during the forecast period. Functional water is rapidly becoming a major commercial and popular beverage category in developed countries such as the United States and Canada, since it appeals to health-conscious customers.
In the United States, major producers and marketers have begun to promote functional water as a healthier alternative to carbonated beverages and fruit juices. The players argue that functional water is an enhanced product that can be used not just for hydration but also as a functional beverage, using product descriptions, modern and interactive labelling, and support from well-known companies, as well as arranging programs and seminars.
Segments
The bottled water market has been segmented on the basis of
Type
- Still Water
- Sparkling Water
- Functional Water
Distribution Channel
Geography
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the bottled water market include Otsuka Pharmaceutical Co., Ltd., Nestle S.A, Danone S.A., The Coca-Cola Company, and PepsiCo Inc.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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