Bottled Water Market is Forecast to Grow at a CAGR of 8.3% by 2027

A recent study conducted by the strategic consulting and market research firm?BlueWeave Consulting?revealed that the global bottled water market was worth USD 230.4 billion in 2020. According to the research report, the market is estimated to grow at a CAGR of 8.3%, accumulating revenue of around USD 405.2 billion by the end of 2027. The?global bottled water market ?is growing at a high rate because of the increasing water pollution levels and declining access to clean and safe drinking water.?Furthermore, a flourishing tourism sector and easy availability of bottled water from convenience stores and supermarkets/hypermarkets are expected to drive the bottled water market during the forecast period. One of the major obstacles to market growth may be increased environmental pollution due to single-use plastic water bottles and stringent government regulations regarding plastic water bottles.

Growing Demand for Sparkling and Flavored Drinking Water Anticipated to Boost the Global Bottled Water Market

The demand for sparkling and flavored drinking water is registering significant growth over the past few years, especially in developed countries.?Sparkling and flavored water has no calories, and no sweeteners, and are especially popular among younger demographics who are trying to cut back on carbonated and sugary drinks. In order to capitalize on these opportunities, numerous bottled water brands are launching a range of flavored products to appeal to the diverse consumer base, which will boost their sales as well as expand their market share.

Increasing Consumer Awareness Towards Clean Drinking Water Projected to Drive the Market Growth

The increasing health consciousness among consumers and growing awareness regarding the benefits of clean drinking water is significantly proliferating the growth of the bottled water market. According to Our World in Data, a scientific online publication, one in four people worldwide do not have access to safe drinking water.?Besides providing nutrients, clean water also transports waste products and other substances into the body. Additionally, it improves digestion and regulates body chemistry in addition to maintaining a normal body temperature. As a result of declining tap water quality, the demand for bottled water to access clean drinking water is predicted to grow, driving the growth of the overall market.

Request For Free Sample Report @?https://www.blueweaveconsulting.com/report/global-bottled-water-market/report-sample

Global Bottled Water Market - By Distribution Channel

Based on distribution channels, the global bottled water market is categorized into on-trade and off-trade segments. The off-trade segment is further classified into supermarkets/hypermarkets, convenience stores, retail stores, specialty stores, online channels, home, and office delivery, and others. The retail store segment accounts for the largest market share because of the high number of such stores, especially in middle and low-income countries.?In developed countries, convenience stores and supermarkets/hypermarkets are popular places to purchase bottled water; thus, this market segment is also growing rapidly. On the other hand, the on-trade segment also covers a substantial share in the market because of the expanding hospitality sector and increasing demand for bottled water in hotels, airports, offices, restaurants, and cafes, etc.

Global Bottled Water Market - Regional Insights

Geographically, the bottled water market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these, the Asia-Pacific region accounts for the largest share in the bottled water market.?Middle-eastern countries, however, are also emerging as potential markets for bottled water due to their thriving tourism sectors and rapid economic diversification. Therefore, several leading bottled water brands are launching their products in countries such as Saudi Arabia and the UAE. North America also covers a substantial share in the market because of the high demand for sparkling and flavored water.

Impact of COVID-19 on the Global Bottled Water Market

Though the demand for bottled water has increased significantly during the COVID-19 pandemic, the growth of the bottled water market was tremendously halted by the unprecedented COVID-19 outbreak.?A lockdown imposed by a number of governments to curb the spread of the virus restricted production operations and distribution channels. The manufacturers, therefore, suffered severe losses as a result of the inability to meet the demand during the quarantine period. Moreover, tourism and hospitality restrictions also affected the demand for bottled water. However, the market is anticipated to flourish during the forecast period, primarily due to the increasing health awareness among the younger generation.

Global Bottled Water Market - Competitive Landscape

The leading players in the bottled water market are Nestlé Waters, Mountain Valley Spring Company, Hangzhou Wahaha Group Co., Ltd., Icelandic Glacial Inc., The Coca Cola Company, Danone, Dasani, PepsiCo Inc., Icelandic Glacial Inc., Natural Waters of Viti Ltd., Otsuka Pharmaceutical Co. Ltd, FIJI Water Company LLC, Hana Water-Hana Food Industries Co., Voss Water, Binzomah Group, National Beverage Corp., Vichy Catalan Corporation, Sunny Delight Beverages Company, CG Roxane, LLC, and other prominent players.

About Us

BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.

Contact Us:

BlueWeave Consulting & Research Pvt. Ltd

+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662

[email protected]