Market Analysis and Insights:

At a projected CAGR of 5.3%, the Global Bottled Water Market is anticipated to grow from an estimated size of USD 301.4 billion in 2023 to USD 515.1 billion by 2033.

Several reasons are driving the market, including Concerns regarding the quality and purity of tap water are growing. Drinking water’s health benefits are becoming more well-known., Increasing discretionary income and changing the habits and desires of consumers.

Bottled Water Market Scope :

Market Definition:

Bottled water is water that is sold in plastic bottles. It is one of the world’s most popular beverages, with consumption gradually increasing in recent years. Bottled water is frequently touted as safer and healthier than tap water, although this is not necessarily true. Bottled water is available in a variety of sizes, ranging from small single-serving bottles to big carboys for water coolers. Bottled water is widely consumed for a variety of reasons. It is portable, convenient, and widely available in most stores and restaurants. The Food and Drug Administration (FDA) regulates bottled water in the United States. The FDA demands that bottled water satisfy the same quality requirements as tap water and be correctly labeled

Key Market Segmentation:

Insights based on Product:

The Purified water sector is predicted to control the bulk of the worldwide Bottled Water market throughout the projected period. Purified water is the most important sector of the worldwide bottled water industry, capturing more than half of the market in 2023. Water that has been purified has been treated to remove contaminants such as bacteria, viruses, and chemicals. It is the most prevalent sort of bottled water on the market and is often regarded as the safest and most dependable source of drinking water. Mineral water is the world’s second-largest bottled water market, accounting for more than 30% of the market Mineral water is water that includes minerals naturally, such as calcium, magnesium, and potassium. Because of its mineral content, some consumers believe mineral water is safer than other forms of bottled water.

Spring water is water that flows naturally from a spring. It is often filtered to remove pollutants, but not to the same extent as pure water. Spring water is frequently touted as a healthier and more natural replacement for other types of bottled water. Sparkling water is water that has been infused with carbon dioxide gas. It is commonly appreciated as a hydrating drink and is also used in beverages and other mixed drinks. Sparkling water is becoming increasingly popular, particularly among younger consumers. Different bottled water offerings include flavored water, functional water, and sports drinks.

Insights based on Packaging:

The PET category is expected to contribute to the majority of the market share. Because of its low cost, lightweight nature, and durability, the PET category is likely to take over the market throughout forecasting. PET is the most prevalent bottled water packaging material, accounting for more than 80% of the worldwide market’s volume. PET bottles are portable, sturdy, and inexpensive, making them an excellent choice for bottled water packaging. PET bottles are also disposable and have a lower carbon impact than other packaging materials like glass or metal. Cans, on the other hand, are predicted to expand significantly during the projection period due to their expanding customer acceptance due to their recyclable qualities and sustainability.

Insights based on Distribution Channel:

Off-trade distribution is the major bottled water distribution channel, incorporating more than 88% of the global market in 2022. This is because it is more convenient to buy bottled water from a wide range of locations, and off-trade stores often provide lower costs than on-trade institutions. The purchase of bottled water through retail outlets such as convenience stores, grocery stores, and internet merchants is referred to as off-trade distribution. The sale of bottled water through catering facilities such as restaurants, bars, motels, and cafes is known as on-trade distribution.

Insights on Regional Analysis:

Asia Pacific Region to Provide Numerous Financing Opportunities. Asia Pacific is one of the biggest bottled water markets, making up more than 45% of worldwide revenue in 2022. The region is predicted to grow rapidly in the coming years, owing to a variety of factors, including Raising awareness about the significance of wellness and good health, Increasing discretionary income, Increasing urbanization. North America is the second-biggest bottled water market, accounting for more than 23% of worldwide revenue in 2022. In the following years, the market is predicted to increase at a moderate rate. Europe is the third-largest bottled water market, incorporating more than 17% of worldwide revenue in 2022. The market is predicted to expand slowly in the next years, owing to reasons such as Numerous Western European countries having maturing marketplaces and increasing consumer understanding of bottled water’s environmental impact. Middle East and Africa is a growing market for bottled water, accounting for over 10% of global revenue in 2022 South America is the smallest bottled water market, making up more than 4% of global revenue in 2022. The market is predicted to increase slowly in the next years, owing to reasons such as Consumer demand for healthful and convenient beverages is increasing, Engagement in sporting and outdoor activities is increasing and Superior and useful bottled water brands are becoming increasingly popular. 

Company Profiles:

The Bottled Water market is a fast-paced and competitive one. The leading companies are always inventing and releasing new products. New competitors from emerging markets are also entering the market.

Major players in the global Bottled Water market include Nestlé, The Coca-Cola Company, PepsiCo, Danone, Keurig Dr. Pepper, Asahi Group Holdings, Suntory Beverage & Food, Tingyi Holding, Nongfu Spring, Bisleri International, Voss of Norway. To enhance their market share, these corporations are actively investing in developing novel products, promotional activities, and extending their distribution networks. These firms provide an extensive spectrum of Bottled Water to organizations of all sizes and play a substantial part in the global supply chain. These businesses are engaged in the manufacturing and marketing of Bottled Water. They are also involved in the creation of fresh applications for Bottled Water.

COVID-19 Impact and Market Status:

The COVID-19 epidemic had an uneven influence on the global bottled water business. During the first few months of the epidemic, there was a boom in demand for bottled water as people stocked up on supplies. However, as the pandemic persisted and several countries enacted lockdowns, demand for bottled water fell, particularly in the on-the-go market. The pandemic’s overall influence on the bottled water business varied by location. The closing of restaurants, workplaces, and other public spaces exacerbated the drop in demand in advanced markets such as North America and Europe. However, demand for bottled water remained largely consistent in developing areas such as Asia-Pacific and Latin America, since consumers were more likely to purchase bottled water for safety concerns. Despite the pandemic's obstacles, the worldwide bottled water business is anticipated to expand in the next years. A variety of causes are driving this expansion, including increasing disposable incomes, increased health awareness, and increased urbanization.

Latest Trends and Innovation:

• Nestlé Waters is making investments in freshwater sources in the United States, including the construction of a new spring water bottling plant in Florida. In addition, the company is increasing its manufacturing of specialized waters and sparkling waters.

•PepsiCo is introducing a new range of bottled water dubbed “LIFEWTR” that contains electrolytes and vitamins. The corporation is additionally making investments in environmentally friendly packaging, such as plastic that is recyclable bottles.

• Danone is growing its investment portfolio of elite bottled water brands, including Evian and Volvic. In addition, the company is investing in innovative technology to lessen the environmental effects of its bottled water operations.

•Primo Water is extending its water dispenser network in the United States and Canada. In addition, the organization is introducing new services such as water supply and installation.

Significant Growth Factors:

The following are important growth factors for the Bottled Water Market As consumers in developing countries become more affluent, they seek better- quality items and amenities, including bottled water. This is especially true in cities, where individuals are more likely to have disposable cash but less likely to have access to safe drinking water. Raising health consciousness and concerns about tap water quality: Consumers are increasingly mindful of the health benefits of drinking water and are concerned about the quality of tap water. As a result, there is a growing requirement for bottled water, which is regarded to be more secure and hygienic than tap water. Packaged water is easy to carry and affordable, making it a popular choice for folks who are always on the go. This is especially true in congested urban settings, where people frequently lack access to adequate drinking water. Bottled water firms are actively investing in marketing and advertising. Bottled water firms are progressively responding to environmental concerns about their goods. Many businesses are now offering bottled water in environmentally friendly packaging, such as recycled plastic or aluminum bottles.

Restraining Factors:

The market for Bottled Water is expanding quickly, but there are several impediments to its expansion. Bottled water production and usage generate huge amounts of plastic garbage, which can contaminate the atmosphere and take many generations to degrade. This is a huge source of concern for both consumers and governments, and it is fueling a growing reaction against bottled water. In most places of the world, bottled water is substantially more costly than tap water. This is a significant barrier to entrance for developing-country customers. As well as a shift toward more cheap alternatives such as water bottles that are reusable and home filtration devices.

Governments all around the world are establishing laws to decrease the ecological impact of bottled water. Some countries, for example, have prohibited the sale of single-use plastic bottles in common areas, while others have imposed tariffs on bottled water. Concerns are emerging regarding the potential health dangers of drinking bottled water. According to some research, bottled water can include dangerous chemicals like bisphenol A (BPA) and phthalates, which may seep from the plastic bottles. In North America, the market faces increasing competition from other beverages, such as sparkling water and kombucha; in Europe, the market is being impacted by the growing popularity of home filtration systems; and in Asia, the market is being impacted by concerns about the quality of tap water.

Overall, the worldwide packaged water market is confronting a range of challenges that could limit its growth in the coming years; however, the market is expected to grow in the coming years, triggered by elements such as increasing urbanization and rising disposable incomes. Bottled water companies will need to address restraining factors such as environmental concerns and cost to maintain their growth momentum.