Bottled Water Market Overview:
In addition, the global Bottled Water Market is expected to rise at a CAGR of 6.2%, with a significant value over the estimated projected in the year 2021-2028.
Bottled water is obtained from various sources, including wells, protected springs or a public water supply, and is intended for human consumption. It has high amounts of dissolved minerals or total dissolved solids as compared to regular water. The bottles are generally treated with ultraviolet irradiation before packaging, which prevents the growth of pathogenic organisms during storage or transportation. After the disinfection process, these bottles are filled with water, labelled and sold in different sizes, ranging from single serve to large carboys for water coolers. At present, the rising incidences of water-borne diseases and emerging health and wellness trends worldwide are increasing the utilization of bottled water for domestic purposes.
The growing awareness about the disadvantages of sugar and artificial sweeteners present in carbonated drinks, along with the rising health consciousness among individuals, represents one of the key factors bolstering the demand for bottled water. The increasing premiumization of water bottles on account of inflating disposable incomes is also contributing to the market growth. The sales of premium bottled water are also supported by its escalating adoption in hotels and restaurants. Furthermore, the increasing participation of individuals in outdoor activities promotes the utilization of small-sized water bottles. Besides this, the easy availability of smart vending machines for bottled water in numerous counties is positively influencing the market growth. Additionally, the growing focus on introducing lightweight, eco-friendly packaging solutions is anticipated to create lucrative opportunities for manufacturers.
According to the latest Bottled Water Market report, the global market has been segmented into six sections product type, packaging, pack size, application, technology and regional analysis. The global market is further divided into four product sections: still water, carbon water, flavored water, and functional water. The global market is further segmented into plastic bottles with the packaging section. As per the pack size section, the global bottled water market is further classified into two sections 1501 ml and above. As per the application type, the market is divided into four sections filter bottle washers, filler and capper, blow molder and shrink wrapper. As per the technology basis, the global bottled water market is classified into six sections RO, UF, MF, chlorination, washing and filling. The global market is further divided into five sections: Asia-Pacific, Europe, South America, North America, and Middle East & Africa with the regional analysis.
In developed economies, like the United and Canada, functional water is constantly becoming a major commercial and popular beverage category, as it is an appealing option for health-conscious consumers. Hence, this is augmenting the bottled water market. According to International Bottled Water Association, bottled water has remained the most profitable section of the beverage consumption market. Hence, this is augmenting the bottled water market. Major manufacturers and marketers in the country have started to position functional water as an alternative to carbonated drinks and fruit juices. Through product description, modern and interactive labelling, backing from respected brands and organizing programs and seminars, the players claim that functional water is an enriched product that is not just for hydration but can also function as a functional beverage.
The bottled water market is highly competitive, attributed to the number of small players involved in the country and regional marketplace. Apart from convenience being the key factor, product innovation is a prominent move that the major players undertake to stay ahead in the market. Major players in the market are adopting a number of strategies, including mergers & acquisitions, collaborations, product launches, and expansion of products, to capture the major market share and expand their customer base across the globe.
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