The
leading players in the global bottled water market operate through
numerous subsidiaries across different regions in the world, observes
Transparency Market Research (TMR) in a recent report. The prominent
players in the market are Nestle Waters, The Coca-Cola Company,
Groupe Danone, Mountain Valley Spring Company LLC, and PepsiCo Inc.
“While some of the key players are focusing on strengthening their
distribution network, companies such as Nestle Waters are
strategizing to expand their product portfolio through joint ventures
with other prominent players,” says TMR’s lead analyst.
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The
opportunity of the global bottled water market was pegged at US$169.5
bn in 2015 and is anticipated to reach US$307.2 bn by 2024,
progressing at a CAGR of 6.6% from 2016 to 2024. Based on product,
the market will be led by the still bottled water segment throughout
the forecast period, representing nearly 77% of the overall market
revenue by 2024. The flavored water segment is poised to expand at a
CAGR of 8.4% during the same period.
Europe
to Surpass North America Owing to Burgeoning Demand for Flavored
Water
North
America was the dominant regional segment in terms of revenue in
2015. However, Europe is expected to outperform this region during
the forecast period. The convenience feature of bottled water is
complementing the increasing on the move lifestyle of consumers,
which is, therefore, driving their demand in the region. The
increasing demand for flavored water and the high disposable income
are also supplementing the growth of the region. The Asia Pacific
region is estimated to rise at a CAGR of 8.5% during the forecast
period, owing to increasing demand for healthy potable water.
Increasing
Health Issues Due to Contaminated Water Consumption to Spur Demand
for Bottled Water
The
increasing prevalence of health issues such as gastrointestinal
problems and reproductive problems caused by the consumption of
contaminated water has been significantly boosting the demand for
hygienic bottled
water globally. The poor supply of clean tap water and
mismanagement of public water infrastructure in various developing
regions are also encouraging the demand for bottled water. Moreover,
the convenience associated with bottled water is driving their global
demand.
In
recent times, there has been a significant shift in the preference
from carbonated drinks towards flavored water. “Growing health
awareness among consumers is translating into a greater preference
for convenient, healthy, safer, and refreshing beverages that are
caffeine-free, calorie-free, and free from artificial ingredients,
which is augmenting the market,” says a TMR analyst.
Hazardous
Impact of Bottled Water on Environment to Hamper Growth Prospects
Despite
the numerous health benefits offered by bottled water, the market is
restrained by their drastic environmental impact. The procedures of
water extraction, water processing, and bottling require large
volumes of energy. In addition, the environmental pollution caused by
the improper disposal of plastic bottles is facing significant
criticism. This is compelling several governments to ban the sales of
plastic water bottles and form stringent regulations regarding
recyclable packaging solutions. The increasing stringency of
regulations is also hampering the growth of the market. However, the
development of recycled and eco-friendly packaging will assist the
market in gaining higher momentum in the coming years.
The
information presented in this review is based on a Transparency
Market Research report, titled,
“Bottled
Water Market (Product - Still Bottle Water, Carbonated Bottle Water,
Flavored Bottle Water, and Functional Bottle Water; Packaging - PET
Bottles and Glass Bottles; Distribution Channel - Super/Hypermarket,
Convenience/Drug Stores, Grocery Stores/Club Stores, and
Foodservice/Vending) - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2016–2024.”
For
the study, the market has been segmented as follows:
Global
Bottled Water Market, by Product Type
- Still Bottle Water
- Carbonated Bottle Water
- Flavored Bottle Water
- Functional Bottle Water
Global
Bottled Water Market, by Packaging
- PET Bottles
- Glass Bottles
- Others
Global
Bottled Water Market, by Distribution Channel
- Super/Hypermarket
- Convenience/Drug Stores
- Grocery Stores/Club Stores
- Others (Foodservice/Vending)
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