Bottled Water Market Projected To Soar To USD 551.2 Billion By 2033 | Remarkable CAGR Of 5.3%

New York, Dec. 12, 2023 (GLOBE NEWSWIRE) -- As per a newly released report by Market.us, the Bottled Water Market size is poised to cross USD 328.9 billion in 2023 and is likely to attain a valuation of USD 551.2 billion by 2033. The Bottled Water Market industry share is projected to develop at a CAGR of 5.3% from 2022 to 2032.

The bottled water market encompasses all industries involved with producing, packaging, distributing, and selling packaged water such as still, sparkling, or enhanced (containing vitamins or other active ingredients) in bottles or containers for consumption. This industry includes still water; sparkling water; flavor enhanced (still or sparkling); and functionally enhanced or enhanced waters which may include vitamins/mineral supplements/other ingredients for functional enhancement or functional enhancement of health or other forms.

Key Takeaway:

Market Size and Growth: Expected market valuation: USD 551.2 billion by 2033. Projected growth rate: CAGR of 5.3% from 2023 to 2033. Anticipated total value in 2023: USD 328.9 billion.

Product Types: Dominant segment in 2023: Still Water (holding 72.3% market share). Other significant segments are sparkling Water and Functional Water.

Packaging: Dominant packaging choice: Plastic Bottles (with a market share of 68.5% in 2023). Notable presence: Cans (considered more eco-friendly).

Distribution Channels: Dominance: Offline distribution channel (holding 90.1% market share in 2023). Growing segment: Online distribution due to convenience and home delivery.

Driving Factors: Increased health consciousness among consumers driving demand. Convenience and portability as key factors for choosing bottled water. Growing awareness and concern for environmental impact.

Challenges: Environmental impact due to plastic waste generation. Competition from cheaper tap water affects market growth in some regions. Stringent regulations impact manufacturers' costs and profitability.

Growth Opportunities: Premium and functional water segments offer significant growth avenues. E-commerce expansion provides convenience to consumers. Emerging markets with improving disposable incomes represent untapped potential.

Key Market Trends: Shift towards plant-based and recyclable packaging. The rising popularity of flavored and functional water varieties. Premium water brands gaining traction with unique stories and branding.

Regional Analysis: Asia Pacific (APAC) dominates, followed by North America, Europe, Latin America, and MEA. APAC's growth is attributed to a large population, rapid urbanization, and health awareness.

Key Players: Major global players: Nestlé, PepsiCo, Coca-Cola, DANONE, and others.

Factors are contributing to the growth and revolution of the Bottled Water industry

Health and Wellness Trends: Increasing health consciousness and a shift toward healthier lifestyles have driven the demand for bottled water as a preferred alternative to sugary beverages. Consumers perceive bottled water as a healthier hydration choice.

Convenience and On-the-Go Lifestyle: The convenience factor associated with bottled water, especially in portable and easily accessible packaging, aligns with modern on-the-go lifestyles, catering to consumer demand for convenience and mobility.

Rising Disposable Income and Urbanization: As economies develop and urbanization accelerates, disposable incomes rise, leading to increased spending on convenience products like bottled water. Urban populations often seek convenient, ready-to-consume products.

Environmental Concerns and Sustainability Initiatives: Plastic waste poses a substantial environmental concern, yet its popularity has led to an unprecedented revolution in sustainable packaging solutions. Many companies now invest in eco-friendly options such as biodegradable or recyclable packaging to satisfy consumer and regulatory worries about environmental impacts.

Innovation in Product Offerings: Continuous innovation in bottled water offerings, including flavored water, and functional or enhanced water with added nutrients, vitamins, and minerals, attracts diverse consumer segments and boosts market growth.

Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Top Trends in the Global Bottled Water Market

Health and Wellness Focus: Consumers are increasingly prioritizing health, driving the demand for functional and enhanced waters. Beverages fortified with vitamins, minerals, electrolytes, and other functional ingredients are gaining popularity as consumers seek hydration with added health benefits.

Sustainable Packaging Solutions: Environmental consciousness has spurred a focus on sustainable packaging within the bottled water industry. Companies are innovating with eco-friendly materials, such as biodegradable plastics, recycled PET, and compostable packaging, to reduce the environmental impact of plastic waste.

Rise of Premium and Specialty Waters: The market is seeing a surge in premium and specialty waters, including alkaline, mineral, and artisanal waters. These offerings cater to specific consumer preferences for taste, mineral content, and perceived health benefits.

Flavored and Infused Waters: Flavored and infused waters are gaining traction, appealing to consumers seeking variety and taste. Natural flavors, such as fruit infusions or herbal blends, are being used to enhance the drinking experience without added sugars or artificial ingredients.

Innovation in Packaging Formats: Bottled water companies are exploring innovative packaging formats, including more sustainable and convenient options such as pouches, aluminum cans, paper-based cartons, and resealable bottles, to meet diverse consumer needs and reduce environmental impact.

Regional Analysis

Asia Pacific (APAC): Market Dominance: Held over 46% of the global market share in 2023. Market Value: Valued at USD 151.2 billion in 2023. Key Drivers: Rapid urbanization, growing population, and increased awareness of clean drinking water. Consumer Trends: Shift towards convenient and safe bottled water options in single-use and bulk packaging due to health concerns and urbanization.

North America: Market Presence: Significant share in the industry driven by health and wellness trends. Consumer Preference: Increasing favoritism towards bottled water as a healthier beverage option. Environmental Focus: Investments in eco-friendly packaging solutions to address consumer concerns.

Europe Robust: Market Share: Notable presence with a focus on premium and natural bottled water varieties. Quality and Safety: Strict regulations governing the industry ensure product quality and safety. Consumer Willingness: European consumers are willing to pay more for premium bottled water products.

Latin America: Market Growth: Significant rise in demand due to increased disposable income and health consciousness. Consumer Behavior: Growing preference for bottled water over carbonated beverages and other alternatives. Continued Trend: People prioritize drinking more water and seek healthier drink options.

Middle East and Africa (MEA): Emerging Market: Witnessed growth due to rising temperatures, urbanization, and the need for portable drinking water. Consumer Demand: Bottled water offers a reliable solution to water scarcity and quality issues in the region. Innovative Offerings: Brands introducing flavored and vitamin-enriched water to cater to diverse preferences.