A
recently compiled business and commerce report by Transparency Market
Research (TMR) has detected that the prominent players of the global
bottled water market are facing stiff competition from localized
vendors. This fragmented scenario is a reflection of low entry
barriers of the bottled water market, and the shares in the future
are expected to remain distributed. Localized players are able to
comply with moderate regulatory mandates regarding the quality of
both the product and packaging. In addition to that, they are able to
eat into the shares via their supply chain.
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Acquisition
an Effective Strategy for Global Players for Greater Shares
This
being said, global players are able to promote themselves as the
purest product manufacturers and always have an option of acquiring a
local player to strengthen their distribution network. The trick for
the major companies operating in the global bottled water market,
says the analyst of this report, is to identify country- and
city-wide opportunities across various emerging economies and acquire
aggressively. Offering products at a price range that matches with
local competition and introducing innovative packaging that cannot be
matched by technologically shorthanded domestic players are two
suggestions that the analyst of this business intelligence report has
highlighted. The Coca Cola Company, Nestle Waters, Groupe Danone,
PepsiCo Inc, and Mountain Valley Spring Company LLC have been
identified as a few major players in the global bottled water market.
Global
Bottled Water Market to Breach US$300 Billion Worth by 2024
In
terms of volume, there will be an estimated demand of 528.2 billion
liters of bottled water by the end of 2024 across the world, which
will translate into a revenue of US$307.2 billion. As of 2017, the
global
bottled water market was worth US$198.5 billion. This
represents a CAGR of 6.44% during the forecast period of 2017 to
2024. Among the products, still water bottles is the segment that
will continue to dominate until 2024, providing for opportunities
worth US$156.0 billion in 2017. The report has also bifurcated the
bottled water market in terms of packaging type and distribution
channel. Geographically, Asia Pacific has been highlighted as the
region with radically increasing lucrativeness, going past North
America which provided for the most prominent chunk of demand in
2017.
Mushrooming
of SMEs in Emerging Economies Driving Demand
Water
is a necessity for humanity and the awareness regarding a substantial
consumption of the same is expanding on the back of growing
popularity of social media. Bottled water are a convenient way of
tagging water along for individuals and the urban populations are
adopting it. Mushrooming of small and medium enterprises (SMEs)
across emerging economies and global initiatives to provide
safe-to-drink water for underdeveloped countries are some of the
other factors augmenting the demand in the global bottled water
market. On the other hand, the pollution caused by polyethylene
terephthalate (PET) is the glaring restraint that is holding the
bottled water market back. In addition to government mandates for the
preservation of environment, the market for bottled water is also
challenged by the substantial energy that is required for the
manufacturing processes.
Key
Takeaways:
- There will be a demand for over 409 billion liters of bottled water by 2024
- Increasing number of local vendors are eating out significant chunk of shares
- Vastly populated emerging economies in Asia Pacific representing lucrative opportunities
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