The bottled water market displayed positive growth patterns despite the heavy competition all across the globe. U.S. regions being the prime markets registered a high-volume sale of bottled water as compared to carbonated water. With the rise in prevalence of acute diseases, the demand for bottled water seems to grow with an upward trend. Major reasons being, health issues and increase in disposable income have significantly influenced the sales in other parts of the world.
the market is highly driven by surge in consumer demand for clean and safe drinking water coupled with eco-friendly packaging trends and initiative for better recycle and reuse. In the near future, the market valuation will be greater owing to new market entrants with innovative approach to cater to consumer demands and the market performance is expected to demonstrate new trends such as production of flavored bottles apart from regular ones and increase in marketing. However, the market suffers a setback in form of availability of cheaper substitutes and duplicacy. Failing to perform any quality test in the manufacturing phase also hinders the market growth in the forecast period.
Product categories in the bottled water market include flavored bottle water, functional water, still bottle water and carbonated bottle water. Still water holds its dominance in the past and continues to retain its dominance during the estimated period. On contrary, the other three segments in product category are anticipated to gain a highly moderate growth in the near future.
PET and Glass bottles come under packaging segment and with the consumer inclination for pure water storage and transportation, PET bottles hold the dominance during the forecast period. The revenue generation estimation is expected to be the highest during this period.
Bottled water market enjoys a significant position in the Asia-Pacific market with a positive CAGR. North America regional markets are highly lucrative for future market developments in terms of consumer preference and rise in predictor variables. European markets are highly classified in terms of imports, the demand for pure water or mineralized water is high in commercial market in these regions. Middle East and African regions are likely to gain a moderate growth due to low awareness and moderate demand for bottled water.
Major players in the bottled water market include Group Danone, Mountain Valley Spring Company LLC, The Coca Cola Company, Nestle Waters and PepsiCo Inc.