Bottled Water Market Business Driving Factors, Key Companies, and Current Trends Analysis, 2023
The factors that are playing a major role in the growth of bottled water market are the growing awareness among populace regarding the benefits of clean and pure water, the rising use of eco-friendly bottles, and easy portability and availability.
(firmenpresse) - Global bottled water market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Bottled water is termed as a drinking water sealed in food grade bottles that are intended for human consumption.
The factors that are playing a major role in the growth of bottled water market are the growing awareness among populace regarding the benefits of clean and pure water, the rising use of eco-friendly bottles, and easy portability and availability. However, the high cost of bottled water may restrain the overall market in the years to come. The market is segmented based on product type, packaging type, distribution channel, and region.
Sparkling, spring, mineral, purified water, and other product types could be explored in bottled water market in the forecast period. The spring water sector accounted for the substantial share of the market and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the increasing concern among populace regarding sugar and artificial sweeteners in carbonated drinks.
Based on packaging type, PET bottles, glass bottles, and others could classify bottled water in the forecast period. PET bottles sector accounted for the substantial share of bottled water market and is estimated to lead the overall market in the years to come. The reason could be the high demand from consumers. Club/grocery stores, supermarket & hypermarket, convenience & drug stores, online channel, and others could classify bottled water in the forecast period.
Globally, Asia Pacific accounted for the substantial share of bottled water industry and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the growing population, the presence of key manufacturers in the region, the rising demand for healthier drinks in comparison to sugary drinks, and the growing disposable income. Also, the rapid urbanization may boost the overall market in this region. The developing countries like India and China are the major consumers of bottled water in this region.
North America and Europe are also estimated to have a positive influence on future growth. North America is the second largest region with significant market share. However, Europe is estimated to grow at the highest CAGR in the forecast period. Also, MEA is estimated to grow at a lucrative pace in the years to come.
The key players of bottled water market are The Coca-Cola Company, Mountain Valley Spring Water, Nongfu Spring; Bisleri International Pvt. Ltd., Nestlé S.A., RHODIUS Mineralquellen und Getränke GmbH & Co. KG, Tata Global Beverages, PepsiCo, Inc., Erolsteiner Brunnen GmbH & CO. KG, and Danone Waters of America, Inc. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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Datum: 29.05.2020 - 11:26 Uhr
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