Pune, India, Oct. 12, 2023 (GLOBE NEWSWIRE) -- According to our latest study on “Bottled Water Market Size Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Category, Flavor, Distribution Channel, and Geography,” the bottled water market is expected to grow from $228.84 billion in 2022 to $322.85 billion by 2028; it is estimated to grow at a CAGR of 5.9% from 2022 to 2028. bottled water market is driven by rise in health concerns among consumers and a shift in demand from carbonated soft drinks to bottled waters. However, the environmental impacts of bottled water are expected to restrict the growth of bottled water market.
GEROLSTEINER BRUNNEN GMBH & CO. KG; Nestlé S.A; The Coca-Cola Company; BlueTriton Brands, Inc.; Danone; Nongfu Spring; FIJI Water Company LLC; PepsiCo, Inc; RHODIUS Mineralquellen und Getränke GmbH & Co. KG and Voss of Norway AS; are among the key players operating in the industry. Leading industry companies to adopt various business strategies such as mergers and acquisitions to expand their geographical presence and consumer base across the world.
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In 2021, Asia Pacific dominated the global bottled water market. The region is expected to continue its dominance during the forecast period. The bottled water market trends are influenced by the rise in health-conscious consumers and a shift of consumers from soft drinks to bottled water. Along with this, the increase in demand for sparkling and flavored water in countries like China and India is fueling the growth of the bottled water market across the region.
Increasing Health Concerns Among Consumers Propelling Demand For Bottled Drinking Water
Drinking polluted water leads to a number of health issues, including gastrointestinal issues, reproductive issues, and brain abnormalities. The growing public awareness of the hazards of polluted water is driving up the demand for bottled water worldwide. The easy availability of bottled water at various retail outlets such as groceries, supermarkets, and convenience stores has played an exponential role in the rapid growth of the global bottled water industry.
Clean drinking water offers essential nutrients to the body, enhances digestion, maintains the body's chemistry, and aids in the maintenance of an average body temperature. As tap water quality deteriorates, the demand for bottled water is likely to grow in the future. Furthermore, as the demand for healthier alternatives grows, industry players are concentrating their efforts on supplying customers with more nutritious beverages, such as flavored water and functional water.
Global Bottled Water Market: Segmental Overview
The "Global Bottled Water Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a special focus on the global bottled water market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The bottled water market is segmented based on type, category, flavor, distribution channel, and geography. Based on type, the market is segmented into sparkling and still. In terms of category, the market is segmented into functional and conventional. Based on flavor, the market is bifurcated into plain and flavored. In terms of distribution channel, the bottled water market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. Based on geography, the market is segmented into five main regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. Asia Pacific is expected to be the fastest-growing region for the bottled water market over the forecast period, followed by North America and Europe.
Based on type, the market is segmented into sparkling and still. In 2021, the still segment held a larger bottled water market share. Still water is purified to remove harmful contaminants such as viruses, bacteria, parasites, heavy metals, and fungi.
Based on category, the market is segmented into functional and conventional. The conventional segment is expected to grow rapidly during the forecast period.
Based on flavor, the bottled water market is segmented into plain and flavored. The flavored segment is expected to be the fastest-growing segment during the forecast period. This is due to the shift in the consumer's preference from carbonated soft drinks to flavored bottled waters.
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Impact of COVID-19 Pandemic on Bottled Water Market
Initially, in 2020 the COVID-19 pandemic adversely affected the bottled water market due to the shutdown of manufacturing facilities and the restrictions on transportation and logistics. The disruptions in the supply chain hampered the supply of bottled water. However, businesses are growing as governments of various countries have eased imposed restrictions. Moreover, vaccination drives have led to a rise in business activities across the globe. The start of operations in the bottled water manufacturing units is positively impacting the bottled water market. The relaxation of lockdown restrictions has led to the opening up of supermarkets and hypermarkets as well as retail stores, which is increasing the availability and supply of bottled water, thus, having a positive impact on the bottled water market.
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