Portland, OR, May 07, 2019 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global Bottled Water Market was estimated at $169.8 billion in 2015 and is expected to hit $319.8 billion in 2022, growing at a CAGR of 9.5% throughout the study period. The report provides an in-depth analysis of drivers & opportunities, evolving market trends, competitive scenario, key market segments, and market size & estimations.
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Increasing health awareness, premium quality & taste of bottled water, portability & convenience for use, and availability of functional water in different flavors have fueled the growth of the global bottled water market. On the other hand, stringent regulations for bottled water, harmful effects of using plastic bottles and, availability of tap water at lower cost have checked the growth to some extent. However, changing lifestyle patterns of consumer has created a number of opportunities in the segment.
Based on product type, the still segment contributed to two-third of the total market and is expected to remain dominant during the estimate period. Simultaneously, the functional segment is projected to grow at the highest CAGR of 13.81% throughout 2016-2022. Based on geography, the market is analyzed across various regions including North America, Asia-Pacific, Europe, and Latin America, Middle East and Africa (LAMEA). Asia-Pacific held nearly two-fifth of the total market and is anticipated to maintain its top status in till 2022. At the same time, this region along with LAMEA is expected to grow at the highest CAGR of 11.2% during the forecast period.
The players operating in the bottled water market include Natural Waters of Viti Ltd., Dasani, Natural Waters of Viti Ltd., Hangzhou Wahaha Group Co., Ltd., The Coca Cola Company, Danone, Icelandic Glacial Inc., PepsiCo Inc., Nestlé Waters, and Mountain Valley Spring Company. These key players are expanding the scope of their business operations by incorporating innovative products in their product portfolios.
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