Wilmington, Delaware, United States, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The bottled water market is expected to reach US$ 460.8 billion by 2031 from US$ 268.2 billion in 2022. The market is expected to increase at a CAGR of 6.2% from 2023 to 2031. The water industry is starting to embrace the circular economy concept. A number of innovations are being explored to minimize the environmental impact of plastic products, including long-term product life, reuse, and reduction of single-use plastics.
Innovations in technology are helping to shape the future of bottled water. The advancements in water treatment and packaging technologies, along with smart meters and sensors, have made it possible to achieve efficient water management. A new packaging innovation, which targets reducing the environmental footprint of bottled water, has been introduced in recent years. Aluminum bottles are becoming more and more popular compared to plastic packaging, as an alternative to plastic packaging.
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Global Bottled Water Market: Key Players
The manufacturing industry focuses on key developments, business strategies, and product development. Companies across the globe are expanding globally and producing environmentally friendly materials for their bottles. Mergers, acquisitions, and innovative product launches are predicted to dominate companies' strategic plans in the coming years.
- Nestle Waters
- Kona Deep
- PepsiCo Inc.
- Groupe Danone
- The Coca-Cola Company
- Mountain Valley Spring Company, LLC
- Bisleri International
- Parle Agro
- Himalayan
- Oxyrich
- Tata Global Beverages Ltd. (TGBL)
- BlueTriton Brands, Inc.
- FIJI Water Company LLC
- Perrier
- KHS Group
- IRCTC
- Patel Beverages Pvt Ltd
- Água Mineral Kaiary
- Angosto
- Alba
- Suntory Beverage & Food Ltd.
- Unicer-Bebidas SA
- Grupo Vichy Catalan
- Icelandic Water Holdings ehf.
- CG Roxane, LLC
The advancement of water treatment technology is intended to improve the safety and quality of bottled water, and continuous improvements are being made in this area. This includes advancements in filtration, purification, and disinfection methods. With consumers requesting healthier and more functional drinks, bottled water will become a more popular beverage in the future. As a result of innovations such as the inclusion of minerals, proteins, or fiber in water products, there is a growing interest in infused or enhanced water products.
Key Findings of Market Report
- Bottled water sales in Asia Pacific are expected to surpass those in Western Europe by 2031.
- With their lightweight and break-resistant design, polyethylene terephthalate bottles are in high demand.
- A growing awareness about health, wellness, and hydration has led to the growth of nutrient-fortified water.
- Social media trends and marketing campaigns are expected to drive demand for flavored bottled water.
- A growing number of convenience stores/drug stores will likely drive bottled water demand.
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Global Bottled Water Market: Growth Drivers
Consumers are increasingly demanding healthy and safe drinking water, which is fueling the growth of the bottled water market. Water quality and safety concerns, along with the perception that it is a healthier alternative, are some reasons for the popularity of bottled water.
With evolving lifestyles, hectic schedules, and ever-changing consumption habits, bottled water is becoming more popular. Consumers with busy schedules will benefit from the accessibility and availability of bottled water.
Growth in bottled water sales is attributed to urbanization and economic stability in developing countries. With a growing urban population, access to clean drinking water has become a priority, increasing the use of bottled water.
Increasing tourism and the cost-effectiveness of these bottles are expected to drive demand in the coming years. Consumers choose bottled water based on various factors, such as the perception of bottled water as a safer alternative and marketing and branding strategies.
Various countries worldwide face a shortage of drinkable water, which drives the demand for bottled water. A bottled water supply becomes essential in areas with limited access to clean drinking water.
While environmental concerns do not necessarily drive growth, they have led to increasing efforts to reduce the environmental impact of bottled water consumption and promote plastic-free alternatives.
Global Bottled Water Market: Regional Landscape
The Asia Pacific region has experienced significant growth in the bottled water industry. Population growth and rising disposable income have fueled market demand for bottled water in these regions. Water quality and safety concerns, as well as changing lifestyles, are some factors influencing the growth of bottled water purchases.
Across many developing nations in the Asia-Pacific region, inadequate public water supplies and water management infrastructure contribute to the demand for bottled water. Plastic waste and sustainability are concerns associated with the growing consumption of bottled water. Alternatives to bottled water are being promoted, and efforts are being made to reduce their environmental impact.
Key Developments
- In January 2023, Icelandic Glacial won the exclusive contract to supply Icelandair's in-flight water.
- In November 2023, Mananalu’s Aluminum Bottled Water - a brand dedicated to eliminating single-use plastic - announced the upcoming release of its limited-edition "Aquaman" bottle.
Global Bottled Water Market: Segmentation
By Product Type
- Still Bottled Water
- Carbonated Bottled Water
- Flavored Bottled Water
- Functional Bottled Water
By Packaging
- PET Bottles
- Glass Bottles
- Others (Stand-up Pouches, Retort Pouches)
By Sales Channel
- Supermarkets/Hypermarkets
- Convenience Stores/Drug Stores
- Grocery Stores/Club Stores
- Foodservice
- Others
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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