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Bottled Water Industry
The global bottled water market size was valued at USD 217.66 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.1% from 2021 to 2028 The bottled water market comprises sales by companies (organizations, sole traders and partnerships) that supply bottled water, of bottled water services and related products. Facilities for purification and bottle water belong to the bottled water industry.
Knowledge of diseases because of consuming polluted tap water and the ease with which the bottled water is transported fuels demand for bottled water. Pollution from plastic waste to the environment presents a threat to growth of the industry. Bottled water intake causes health risks. In the first months of the shutdown, demand for bottled water increased because of the market storage in expectation of locks and shortages. However, the trend soon further deteriorated, along with declining revenues due to the global recession of the tourism industry.
Driven by health and wellness developments, along with excellent product offers by diverse international and regional players, the market for functional water is. Growing consumer demand for functional beverages has been the crucial factor that is driving the growth of the market studied over the forecast period. The convenience of consumption and its effects on human nutrition increase consumer demand. The growing popularity of usable water among the working class and thousand-year-old populations would boost market growth.
There are a variety of products on the global bottled water market which include silent water, moist spring water, purified water, mineral water, distilled water and usable water through on- and off-trade distribution channels. In addition to supermarket/hypermarket, grocery store, home and office supply (HOD) and other distribution networks, the off-trade distribution channels are also sub-segmented.
The segment of clean water had the largest share in 2020 of over 35.0%. In 2018, almost 16,000 desalination plants provide purified water, according to a UN report in 177 countries. Climate change has led to increased water requirements, increased per capita water use, urbanization, industrial development, decreasing water sources and pollution in most areas of the world. To address these issues, the demand for ultra-clean water from desalination technology is projected to increase during the projected period.
The most rapidly rising segment of sparkling water with a CAGR of 11.7% is anticipated to be between 2021 and 2028. Often sold is sparkling water or mineral water, which is sparkling. Water containing as much carbon dioxide as its source is known as sparkling water after treatment. The demand segment is expected to be mainly based on developed United States, France, Canada, Germany and the United Kingdom markets.
In 2020, Asia-Pacific had the largest share of over 42.0% and its lead is predicted to remain in the forecast. The regional market is driven mainly by the rising preference for bottled water because of increasing health concerns related to polluted water use. Changing habits of water consumption, increasing retail organization and the launching of innovative goods such as flavored water is also expected to promote the development of regional markets.
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