The text provides an overview of the global bottled water industry, focusing on market size, growth projections, key regions, segments, and major players.
Bottled Water Industry Overview
The bottled water market was valued at USD 202.056 billion in 2018, with significant growth projected due to increasing global adoption for its safety, quality, and convenience. Rapid urbanization and increased awareness are key drivers.
The still water segment dominated with 273.3 billion liters volume and US$156 billion in 2017, mainly driven by PET bottles’ convenience. Asia Pacific is emerging as a lucrative region, surpassing North America’s demand.
Market Growth and Forecast
The market size is expected to increase by USD 102.44 billion between 2023-2027, growing at a 5.88% CAGR. Factors contributing to growth include premiumization, urban consumption, and consumer preferences.
Bottled Water Industry Trends
By 2023, the global market reached USD 255.1 billion, with continued growth projected at 6.34% annually between 2023-2027. Key trends include increased consumer awareness and the adoption of filtration technology.
Sparkling Water and Market Share
The current value of sparkling bottled water is $45.4 billion in 2023, with a forecasted revenue of $76.95 billion by 2028. Additionally, the bottled water market share continues to increase compared to carbonated drinks.
Future Outlook and Challenges
The global bottled water market is expected to reach USD 521.62 billion by 2030, growing at a 7.2% CAGR. Major players include Danone, Nestlé, PepsiCo, and Coca-Cola. Challenges include water source depletion and community concerns in areas with water shortages.
Environmental Impact and Consumption
The US leads in consumption, emphasizing the industry’s economic importance and environmental impact. The market is forecasted to reach USD 364.4 billion by 2028, with rising demand for flavored water and online sales.