Dublin, May 18, 2023 (GLOBE NEWSWIRE) -- The "Spring Water Market by Packaging Type, Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global spring water market is envisioned to garner $465.2 billion by 2031, growing from $210.7 billion in 2021 at a CAGR of 8.7% from 2022 to 2031.
Key Market Players
- Orient Beverages Pvt. Ltd.
- Nestle S.A.
- Pepsico, Inc.
- Ten Spring Water
- Danone
- 3 Spring Water
- Mountain Valley Spring Water
- Tata Consumer Products Limited
- CG Roxane, LLC
- Coca-Cola
The rise in awareness about different health problems caused by polluted water, such as neurological disorders, gastrointestinal ailments, and reproductive issues, drives demand for clean and hygienic water. Water is protected against bacterial contamination if it is correctly packed, regardless of storage time.
Consumers are shifting toward safe, healthful, and refreshing beverages that are low in calories, caffeine, and preservatives. Rise in cases of various health issues such as gastrointestinal diseases, neurological disorders, and reproductive problems caused by drinking contaminated water is expected to offer ample growth opportunities to spring water market during the forecast period.
Spring water is costlier than tap water, which limits its use among low-income individuals. This aspect is expected to stifle market expansion. It is not a cost-effective choice, as it sometimes has no discernible difference from tap water and may be of same or lower quality. These factors are expected to restrain market expansion during the forecast period.
Better technology and methods for lowering manufacturing time are likely to drive market expansion during the forecast period. For example, Clear Water Manufacturing, a bottled water manufacturing company based in North Carolina, introduced a machine in June 2018 that can filter, fill, and cap more than 300 bottles of water per one-hour cycle on-site at any location such as campuses, hotels, stadiums, or in retail spaces. As a result, technological improvement is likely to drive market expansion.
The COVID-19 pandemic brought several uncertainties leading to severe economic losses as various businesses across the world were on a standstill. There were import-export restrictions laid down on major Spring Water producing countries such as the U.S. and China, which imposed significant challenges on the market.
Owing to the COVID-19 pandemic, several companies, especially the consumer products industry, experienced unprecedented challenges. The spring water market was harmed by a scarcity of raw materials & personnel, factory closures, and other operational challenges caused by COVID-19 safety measures. The lockdown had a significant influence on the supply and production of Spring Water, limiting the market's expansion. However, vaccination initiatives, on the other hand, increased commercial activity globally.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the spring water market analysis from 2021 to 2031 to identify the prevailing spring water market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the spring water market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global spring water market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Distribution Channel
- Specialty Stores
- Online Retail
- Hypermarkets/Supermarkets
By Packaging Type
- Bottled
- Canned
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa,
- Saudi Arabia
- UAE
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/9nrhow
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