The global U.S. Bottled Water Market is estimated to be valued at US$26067.32 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Bottled water has become a popular option as an alternative to regular tap water owing to the added convenience and perceived health benefits. Increased consumption of bottled water can be attributed to rising awareness about health and wellness. Moreover, factors such as changing lifestyles, increasing disposable incomes and urbanization have further augmented the demand for bottled water in the U.S.
Market key trends:
One of the key trends driving the U.S. bottled water market growth is the rising premiumization of bottled water. Consumers are willing to pay a premium for premium bottled water products boasting enhanced purity standards, unique tastes or functional formulations. Premium bottled water like alkaline water and natural spring water labeled as organic, sustainable and recyclable are gaining popularity among health-conscious customers. Premiumization in bottled water segments is supported by growing awareness about purity, mineral content and processing methods of different bottled water variants. This trend has enticed entry of new premium brands and product line extensions by existing major players into the lucrative premium bottled water space.
Segment Analysis
The U.S. bottled water market is segmented into still water and carbonated water. Still water dominates the market with a share of around 80% in 2023. Still water is dominating as it does not contain any artificial ingredients or added sugar and is considered a healthier option compared to carbonated drinks by consumers.
Key Takeaways
The U.S. bottled water market is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing health consciousness among consumers. The consumers are increasingly preferring bottled water over soft drinks due to perceived health benefits of bottled water.
Regional Analysis
The Western region accounts for the largest share in the U.S. bottled water market currently. However, the Southern region is expected to witness the highest growth during the forecast period. The high consumption of bottled water in restaurants and institutions is driving the market growth in the South.
Key Players
Key players operating in the U.S. bottled water market are Nestle Waters, PepsiCo, Inc., The Coca-Cola Company, Groupe Danone, Suntory Beverage & Food Ltd, Mountain Valley Spring Company, LLC, and CG Roxane, LLC. Nestle Waters holds the largest market share due to its strong brand recognition and diverse product portfolio in the bottled water segment. Coca-Cola Company is also expanding aggressively in the bottled water market through acquisitions and new product launches.
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