The bottled water market is expected to grow from US$ 228. 84 billion in 2022 to US$ 322. 85 billion by 2028; it is estimated to grow at a CAGR of 5. 9% from 2022 to 2028. Bottled water is drinking water packaged inside a plastic or glass bottle.
New York, July 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bottled Water Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Category, Flavor, and Distribution Channel" - https://www.reportlinker.com/p06295651/?utm_source=GNW
Bottled water is free from contamination and is available in different flavors.
Based on type, the global bottled water market is segmented into sparkling and still.In 2021, the still segment led the bottled water market.
The demand for still bottled water is attributed to the rapid shift toward healthy drinking practices where still bottled water is mostly preferred by consumers owing to its cheap rates.Based on flavor, the market is bifurcated into plain and flavored.
The flavored segment is expected to be the fastest-growing segment in the bottled water market.
The bottled water market, based on geography, is segmented into North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA).In 2021, Asia Pacific dominated the global market.
The changing lifestyle of consumers and increased awareness about diseases due to contaminated water consumption drive the demand for bottled water in Asia Pacific.Moreover, the increased availability of bottled water in various flavors across retail stores, supermarkets, and hypermarkets across the region is driving the bottled water market.
North America is the second-largest market for bottled water, and the Asia Pacific is expected to be the fastest-growing region in the bottled water market.The rapidly shifting demand from carbonated soft drinks to bottled water in US and Canada is driving the demand for bottled water across the region.
Moreover, the consumers in the US are demanding sparkling water, which is having a positive impact on the bottled water market.
Many industries, including the consumer goods industry, faced unprecedented challenges due to the COVID-19 pandemic.The shortage of raw materials and labor, the shutdown of factories, and other operational difficulties due to COVID-19 safety protocols adversely affected the bottled water market.
The lockdown severely impacted the supply and production of bottled water, thus, restraining the market’s growth.However, vaccination drives have led to a rise in business activities worldwide.
The economies are reviving their operations, and the demand for bottled water is expected to rise globally in the coming years. Key manufacturers have resumed their operations, thereby restoring the production capacity of bottled water.
Danone; FIJI Water Company LLC; GEROLSTEINER BRUNNEN GMBH & CO. KG; The Coca-Cola Company; Nestlé S.A; Nongfu Spring; BlueTriton Brands, Inc.; PepsiCo, Inc; Voss of Norway AS; and RHODIUS Mineralquellen und Getränke GmbH & Co. KG are among the leading players in the bottled water market. These companies are adopting strategies such as mergers & acquisitions and product launches to expand their geographic presence and consumer bases.
The overall global bottled water market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants in this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the global bottled water market.
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