The bottled water market has
experienced significant growth in recent years due to growing awareness about
the health benefits of consuming purified water. Bottled water helps provide
hydration and reduces the risks of waterborne diseases. It is considered a
safer alternative to tap water in regions with inadequate water treatment
facilities. Bottled water is available in various packaging types including
plastic bottles, glass bottles, and others. Plastic bottles dominate the market
share as they are cheaper, lightweight, and portable. However, growing environmental
concerns related to plastic waste are boosting the demand for alternatives like
aluminum cans and glass bottles.
The Global bottled water market is estimated to be valued at US$ 370.81 Mn in 2024 and is expected to
exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.
Key players operating in the bottled
water are 3M, Armolan, Avery Dennison Corporation, Eastman Chemical Company,
HYOSUNG CHEMICAL, Johnson Laminating and Coating, Inc., LINTEC Corporation,
Nexfil Co., LTD., Rayno Window Film, Saint-Gobain Performance Plastics, and
Toray Industries, Inc.
Key Takeaways
Key players: 3M is a global leader
in the production of Bottled
Water Market Trends label films. Armolan offers high-quality PET
preforms and bottles. Avery Dennison is a major supplier of water bottle
labels.
Key opportunities: Growing health consciousness in developing nations and
demand for eco-friendly packaging present significant growth prospects.
Emerging economies in Asia Pacific and Latin America with increasing per capita
income levels are anticipated to be lucrative markets.
Global Expansion: Key players are expanding their manufacturing facilities
globally to cater to growing international demand. For instance, HYOSUNG
CHEMICAL inaugurated a new bottled water plant in Argentina in 2022. Saint
Gobain acquired British firm Structoplast Ltd. to strengthen its position in
the UK bottled water market.
Market drivers: Rising health awareness, changing lifestyles, and growing
mistrust in tap water quality are major drivers for the bottled water industry.
In developing countries, lack of basic drinking water infrastructure also
drives demand.
Market restraints: Stringent
government regulations restricting plastic packaging usage may hamper market
potential. High production and transportation costs of bottled water compared
to tap water limit widespread adoption. Concerns around plastic waste and
recycling remain a key environmental challenge.
Segment
Analysis
The segmented bottled water market
comprises of still water, sparkling water, flavored water. Still water
dominates the bottled water market accounting for nearly 80% share owing to
increasing health consciousness and preference for healthy lifestyle. Still
water is considered a healthier alternative to sugary drinks and people are opting
for it to stay hydrated.
Global Analysis
Regionally, Asia Pacific dominates
the global bottled water market and is estimated to grow at the fastest pace
during the forecast period. This is attributed to changing lifestyles,
increasing disposable incomes and rising health awareness. Countries like China
and India with burgeoning population forms a major chunk of market in the
region. North America stands as the second largest market for bottled water
driven by busy lifestyles and health consciousness. Bottled water companies are
focusing on these two regions to expand their market presence. Key players are
investing in advanced technology for production and packaging to appeal to
customers and boost sales.
Gets
More Insights on, Bottled
Water Market
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market
research industry. She specializes in writing well-researched articles from
different industries, including food and beverages, information and technology,
healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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