Bottled Water Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Indonesia, Mexico, Brazil - Size and Forecast 2024-2028

Bottled Water Market Size 2024-2028

The bottled water market is estimated to increase by USD 112.8 billion and grow at a CAGR of 6.12% between 2023 and 2028. The growth trajectory of the market is influenced by several key factors. These include the rising trend of premiumization, reflecting consumers' willingness to pay for higher-quality products, and the escalating consumption among urban consumers. Additionally, the market benefits from the growing preference for bottled water, both still and sparkling water as a convenient and portable hydration option. However, challenges persist. The market faces threats from substitute products as consumers seek alternative beverages, and rising concerns about plastic waste and its environmental impact, coupled with the challenges of disposal, also pose significant hurdles. Moreover, drinking water compliance with stringent safety and quality regulations adds complexity to market dynamics. Navigating these challenges requires innovative solutions and sustainable practices to ensure continued growth while addressing environmental and regulatory concerns.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

By Product

The market share growth by the still-drinking water segment will be significant during the forecast period. In terms of revenue, still bottled drinking water dominates the global market. This is mainly attributed to rising urbanization, rising health consciousness, demand for on-the-go bottled water products, packaging innovations, the introduction of new flavours, and various other factors.

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The still-drinking water segment was valued at USD 125.60 billion in 2018. Still drinking water is non-carbonated water and comes both flavoured and unflavored. Owing to the rising health consciousness, consumers increasingly prefer still drinking water and avoiding carbonated drinks. This is impacting market growth positively. Furthermore, rising urbanization has increased environmental pollution, resulting in the contamination of most water bodies. Hence, there is a rising demand for pure drinking water in the market. Moreover, despite the increased use of carbonated soft drinks and other sugary beverages, consumers are very keen on choosing healthy beverages, which, in turn, boosts the market growth. In addition, the global still drinking water market is experiencing demand for on-the-go products due to the changes in consumer lifestyles. Hence, such factors are expected to drive the growth of the global still-drinking water market during the forecast period.

Key Regions

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APAC is estimated to contribute 53% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in APAC will see steady growth during the forecast period. The market, especially in China, is growing rapidly due to population growth, coupled with economic development and increasing income levels. Consumers in China are paying a lot of attention to their well-being, as the country with a total population of approximately 1.43 billion, as estimated in September 2020, has many obese people. Therefore, such people have been increasingly demanding a healthier lifestyle for over a decade due to the rising necessity for young and old people to consume bottled water daily.

Market Dynamics and Customer Landscape

In the wake of the coronavirus outbreak, concerns about health and safety have become paramount, leading to increased demand for clean and hygienic packaged options such as aluminum bottled water and polyethylene terephthalate (rPET) bottles. Working professionals and in-house consumers alike prioritize access to safe drinking water to maintain hydration and support overall health and wellness. For travelers and those in the tourism industry, the importance of portability and convenience cannot be overstated, making products like still water, sparkling water, and flavored water popular choices. Despite logistical challenges in distribution, industry initiatives are underway to ensure nutrient-fortified water options are readily available, particularly in regions facing drinking water scarcity or concerns about contaminated tap water. These efforts not only address fear of diseases but also Draw a Smile by providing refreshing and revitalizing hydration solutions for consumers facing gastrointestinal diseases or other health challenges.

Key Market Driver

The increased consumption by urban consumers is notably driving the market growth. The increasing contamination of drinking water sources due to urbanization and pollution is making consumers more conscious about the quality of water that they drink. This leads them to consume bottled water. It has been observed that the sales of bottled water are high in urban areas because of the changing lifestyle and high-income levels of consumers.

Further, the availability in various flavours is another factor influencing its sales. The high disposable income makes urban consumers choose flavoured ones as well as premium bottled water ones. Urban consumers also look for more convenient products. The availability in various sizes and packaging formats increases the convenience for consumers. This is impacting the sales in a positive way. Thus, owing to such factors, the market in focus is expected to grow during the forecast period.

Significant Market Trend

The increasing packaging innovations are emerging trends in the market. The manufacturers tend to innovate packaging formats to attract more consumers, which has impacted sales in a positive manner. Packaging innovation increases the shelf appeal as well as the differentiation level of the product in the market.

However, manufacturers generally choose eco-friendly packaging formats as well as luxury formats. Owing to the rising concerns about the disposal of plastic bottles, a lot of manufacturers are using packaging formats that minimize the negative impact on the environment. They are also taking initiatives to promote eco-friendly packaging. Companies such as Danone and Nestle have launched a PET plastic bottle made from bio-based material. Thus, increasing packaging innovations are expected to impact the growth of the global market during the forecast period.

Major Market Challenge

The rising concerns about plastic waste and its disposal are major challenges impeding the market growth. Mostcomes in plastic bottles because it is convenient for consumers who prefer "use and throw" modes of packaging. This packaging type is also convenient for manufacturers to gain cost benefits. However, rising concerns over plastic waste will affect the sales of bottled water that are sold in plastic bottles.

Moreover, the disposal of plastic bottles is a concern across various countries. The increasing awareness campaigns conducted globally on plastic waste and its impact on the environment are likely to affect market growth as more consumers are trying to avoid plastic bottles made with vaccines. This poses a challenge for manufacturers as they have to look for alternative packaging. A growing number of manufacturers are looking at recycled and alternative packaging as consumers are trying to avoid disposable, single-use plastic. Thus, owing to such factors, the market in focus is expected to have restrained growth during the forecast period.

Key Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes critical purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Market Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Bisleri International Pvt. Ltd -The company offers products such as mineral water and soda. The key offerings of the company include 20 litres water bottle can that is used in residential and commercial places.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• China Resources Cestbon Beverage China Co. Ltd.
• Danone SA
• Eternal Beverages Inc.
• GANTEN Australia PTY LTD.
• Gerolsteiner Brunnen GmbH and Co. KG
• Icelandic Glacial Inc.
• Inner Mongolia Yili Industrial Group Co. Ltd.
• Keurig Dr. Pepper Inc.
• Mountain Valley Spring Co. LLC
• Nestle SA
• Nongfu Springs Co. Ltd.
• Penta Water Co. LLC
• PepsiCo Inc.
• Primo Water Corp.
• Starbucks Corp.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, robust, tentative, and weak.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Product Outlook
  • Still drinking water
  • Sparkling water
  • Bottled spring water

• Distribution Channel Outlook
  • Off-trade
  • On-trade

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile
    • Brazil
    • Argentina

Market Analyst Overview

The market is experiencing robust growth, driven by various factors such as consumer popularity and increasing awareness of health and wellness. With concerns over contaminated tap water and drinking water scarcity, consumers are turning to clean and hygienic packaged options like alkaline water and electrolyte-rich water for hydration. Packaging options, including glass and polyethylene terephthalate (rPET), ensure product protection and portability, addressing logistical challenges in distribution. The market offers a variety of options, from still water to flavored water and fortified water with essential ingredients like amino acids and vitamins. Despite challenges such as plastic trash and concerns about high-calorie drinks, the bottled water market continues to thrive, meeting the needs of travelers, tourism industry, and in-house consumers alike.

Moreover, the industry continues to flourish, driven by a multitude of factors including convenience stores providing easy access to a variety of options like aquafina and caffeinated water. Concerns over contaminated water and waterborne diseases such as dysentery propel the demand for safe drinking water options, ensuring purity and freshness. Consumers increasingly seek functional water options fortified with minerals, protein, and vitamins, catering to health-conscious individuals looking for health benefits. With a focus on improved flavor and nutrient-rich blends, the market offers a diverse range of products, including nutrient-fortified water and vitamin-enriched waters. Packaging innovations like aluminum bottled water provide light-resistant barriers and extended shelf life, while mini markets and traditional stores drive per capita consumption worldwide. Despite concerns about health hazards associated with sugary drinks, the bottled water market remains a preferred choice for consumers seeking refreshment and hydration.

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What are the Key Data Covered in this Market Forecasting Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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