Bottled water is drinking water packaged in plastic or glass water bottles. It can be carbonated or not carbonated and commonly available in sizes ranging from small single-serving bottles to large carboys for use in water coolers. Bottled water appeals to consumers who prefer the taste and convenience of bottled water or those who wish to avoid tap water contamination or issues. High awareness regarding health benefits of consuming pure water is a key driver boosting the bottled water market growth.
The global bottled water market is estimated to be valued at US$ 2979.84 million in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031
With busy and hectic lifestyles, bottled water has become a necessity for many especially in developed regions for its convenience of use. Rising disposable incomes along with improving living standards in developing countries provide new opportunities for bottled water manufacturers to tap new customer segments.
Key Takeaways
Key players — Key players operating in the bottled water market are Presto Geosystems, Polymer Group Inc., Strata Systems Inc., Armtec Infrastructure Inc., Maccaferri SPA, PRS Mediterranean Ltd., Maccaferri SPA, and Tensar International Ltd. These companies are focusing on expanding their production capacities and distribution networks in high growth markets.
Key opportunities — Growing middle class populations in developing regions of Asia Pacific and Latin America provide lucrative opportunities for bottled water companies to tap new customers. Product innovation and new sustainable packaging solutions also offer opportunities for market expansion.
Global Expansion — Leading Bottled Water Market Growth brands are expanding their global footprint through strategic acquisitions and partnerships with local players in high potential international markets. North America and Western Europe remain major revenue generators however companies are increasingly focused on other regions to drive future growth.
Market Drivers
— Increasing health consciousness — Higher awareness about health benefits of drinking pure water as compared to sugary beverages is a key factor accelerating bottled water demand. This is reinforced by rising lifestyle diseases.
— Portability and convenience — On the go consumption trend coupled with increasing busy lifestyles favor the portability and ease of use of bottled water over other beverage options.
Market Restraints
— Plastic waste and environmental concerns — Disposal of plastic Bottled Water Market Size and Trends generates huge amount of non-biodegradable waste leading to environmental pollution. This is a major challenge for the bottled water industry.
— Rising raw material prices — Plastic resin and PET granules used in manufacturing bottled water packaging are crude oil based commodities. Volatility in crude oil prices pose inflationary pressure on production costs for bottled water companies.
Segment Analysis
The bottled water market can be segmented based on packaging size into three categories: less than 1 liter, 1 liter to 3 liters, and more than 3 liters. The 1 liter to 3 liters segment currently dominates the market, with a share of over 35%. This is because majority of bottled water consumers prefer bottles in this size range for commercial as well as household usage owing to ease of handling and transportation. The less than 1 liter segment is expected to witness the fastest growth during the forecast period due to rise in on-the-go consumption of bottled water.
Global Analysis
The North America region currently leads the global bottled water market with over 35% share and is expected to remain the dominant region during the forecast period. Presence of leading bottled water brands and strong distribution networks across countries like United States and Canada are major drivers for the market in North America.
The Asia Pacific region is poised to witness the fastest growth during the same period. Factors such as rising health consciousness, growing demand for convenient packaged products, and improving economic conditions are fueling the consumption of bottled water in developing countries of Asia Pacific including China and India.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice’s dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
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