U.S. Bottled Water Market Size to Hit USD 79.21 Billion by 2033
Laxman Dige
Brand Builder at Precedence Research | Towards Healthcare | Towards Packaging | Nova One Advisor
According to Nova One Advisor, the U.S. bottled water market size was exhibited at USD 44.65 billion in 2023 and is projected to hit around USD 79.21 billion by 2033, growing at a CAGR of 5.9% during the forecast period 2024 to 2033.
The demand for sanitary packaged goods, particularly bottled water, is on the rise in the United States. This growth is fueled by increasing health concerns, such as gastrointestinal disorders linked to drinking contaminated water. In several parts of the country, access to clean drinking water is still a challenge, driving up the demand for safe drinking options and contributing to market expansion.
The U.S. bottled water market commands a significant share of the global market, holding about 13.7%. This market is benefiting from a growing trend among consumers who are prioritizing health and wellness. There's a noticeable shift toward nutrient-fortified waters, appealing to a wide range of consumers, including business professionals, travelers, and the general health-conscious public. Products that are alkaline, electrolyte-rich, caffeinated, or fortified with additional hydrogen or oxygen have seen a surge in popularity in recent years.
This focus on health and well-being has also increased the demand for ultra-purified and powdered water options. These bottled water products are increasingly preferred over high-calorie, carbonated, and sugary beverages such as sports drinks and juices, especially by consumers on the go. According to data from the Beverage Marketing Corporation, while the volume growth of bottled water slowed down in 2022 compared to the previous year, producers still saw a revenue increase of about 12%, primarily due to higher prices.
In terms of consumption, bottled water reached a record high with per capita consumption at 46.5 gallons, surpassing carbonated soft drinks, which remained at 36 gallons. The category's volume was predominantly driven by single-serving sizes, which are the most commonly purchased form of bottled water. The Beverage Marketing Corporation predicts that bottled water will continue to outpace carbonated soft drinks in growth.
Another segment that is gaining traction is "functional water," which is water fortified with vitamins, minerals, and other beneficial ingredients. Functional waters are becoming increasingly popular due to their convenience, perceived health benefits, and superior taste compared to tap water. As consumers become more health-conscious, they are gravitating toward these healthier alternatives, which offer added benefits such as improved hydration, better taste, and the inclusion of essential nutrients. Concerns about health issues like heartburn, weight gain, and digestive problems are pushing more consumers toward these options.
Functional waters also tend to be more affordable than other ready-to-drink (RTD) beverages, which, coupled with the growing variety of packaging options like single-serve bottles, is boosting their appeal. The rapid growth of the fortified beverage market can be attributed to the inclusion of vital ingredients like proteins, amino acids, vitamins, and minerals in a variety of functional drinks. The market is poised for further expansion as beverage manufacturers continue to introduce new and innovative varieties of functional water, including those with altered protein and mineral blends.
Overall, the U.S. bottled water market is experiencing robust growth, driven by increasing consumer awareness and demand for healthier, more functional beverage options. As the market continues to evolve, companies that can innovate and cater to the health-conscious consumer are likely to see continued success.
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U.S. Bottled Water Market Key Takeaways:
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By Product Insights
In 2023, the mineral water market held a market share of 27.6% in terms of revenue and is expected to maintain dominance over the forecast period. Because typhoid, diarrhea, and dysentery are typically brought on by contaminated particles in flowing water, businesses are addressing the issue and customers are searching for safe water sources. For example, Aquafina provides filtered, sodium-free, purified drinking options. For safe and clean drinking, Dasani also provides alternatives that have been cleaned and enhanced with minerals.
One of the main factors driving the market is the increased focus on wellness and health.
The sparkling bottled water market is projected to grow at a CAGR of 6.6% from 2024 to 2033. Customers are actively looking for functional beverages that can help them achieve their particular health goals as they become more aware of their overall well-being. Customers can easily and conveniently add these extra benefits to their regular hydration program by using bottled functional water.
By Distribution channel Insights
Off-trade consumption of bottled water accounted for a market share of over 91% in 2023. All retail establishments, including supermarkets, small markets, hypermarkets, convenience stores, and traditional stores, are included in this sector. Throughout the projection period, the market will be supported by the growing ease with which consumers may select a specific brand of bottled water that contains a specific set of minerals.
On-trade sales of bottled water are anticipated to grow at a CAGR of 5.9% from 2024 to 2033. The social and recreational elements of going out to eat or seeing shows are advantageous to the on-trade channel. Because bottled water is easily accessible in restaurants and bars, customers frequently decide to enjoy their food and beverages there. Because of this, there is a steady market for bottled water in the on-trade distribution channel.
By Packaging Insights
PET bottled water market accounted for a revenue share of over 80% in 2023 and is expected to maintain dominance over the forecast period. PET packaging is unique in the bottled water industry since it is less expensive than alternatives such as glass or metal. PET bottles are reasonably inexpensive to produce, and their lightweight design greatly lowers the cost of shipping. Because of this financial benefit, PET has become the standard for water packaging, allowing producers to provide a variety of consumers reasonably priced bottled water options.
The packaging has been essential to the product's increasing uptake. Coca-Cola Bangladesh launched 100% recycled PET (rPET) bottles for its Kinley water brand in December 2022. As a result, Coca-Cola Bangladesh is the first business in South-West Asia to sell two-liter packs of 100% rPET bottles. The company has been making efforts to utilize more recycled plastic and less virgin plastic. Presently, the company sells 100% rPET bottles in more than 40 international marketplaces.
The canned bottled water market is expected to grow at a CAGR of over 6.0% during the forecast period. Because they create an impenetrable, light-resistant barrier, cans provide the best possible product protection, preserving the water's flavor and quality. This benefit is crucial for bottled water since it ensures that its freshness and purity will be maintained for the duration of its shelf life.?
U.S. Bottled Water Market Recent Developments
Some of the prominent players in the U.S. bottled water market include:
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Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. bottled water market
Product
Packaging
Distribution Channel
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