The Global Bottled Water Market Is Estimated To Record a CAGR of Around 6.54% During The Forecast Period
Evolve Business Intelligence has published a research report on the Global Bottled Water Market, 2023–2033. The global Bottled Water market is projected to exhibit a CAGR of around 6.5%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Bottled Water Market: Danone SA, The Coca-Cola Company, PepsiCo Inc., Nestle SA, Otsuka Pharmaceutical Co. Ltd, FIJI Water Company LLC, Voss Water, National Beverage Corp., Binzomah Group, and Hana Water-Hana Food Industries Co.
Market Highlights
The global Bottled Water Market Size is expected to reach USD 640.7 Billion by 2033. The global Bottled Water industry size accounted for USD 340.1 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 6.54% from 2023 to 2033. The bottled water market refers to the industry involved in the production, packaging, and distribution of water in bottles for consumption. It encompasses various types of water, such as mineral water, purified water, spring water, and flavored water, which are packaged in different sizes and formats like plastic bottles, glass bottles, and pouches.
The COVID-19 pandemic had a significant impact on the bottled water market. With the outbreak of the virus, there was a surge in demand for packaged drinking water as consumers sought safe and hygienic options. The fear of contamination and the need for convenient, ready-to-drink water led to increased sales of bottled water. However, the impact varied across regions, depending on the severity of the pandemic and the associated restrictions and lockdowns.
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Segmental Analysis
The global Bottled Water market has been segmented based on Type, and Distribution channel.
Based on the Type, the Bottled Water market is segmented into Still Water, Sparkling Water, and Functional Water. The Still water segment is expected to have the larger market share throughout the forecast period.
Based on Distribution Channel, the global Bottled Water market has been divided into Off-trade and On-trade. The off-trade Based segment is anticipated to dominate the market.
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Regional Analysis
The Bottled Water market is divided into five regions: North America, Europe, Asia-Pacific, South America, and Middle East, &Africa. Among these regions, North America and Europe are the two major regions driving the growth of the Bottled Water market. North America: The bottled water market in North America witnessed a steady growth rate during the pandemic. Consumers in the region already had a preference for bottled water over tap water, and the pandemic further increased this demand. Moreover, the closure of restaurants and foodservice establishments led to a shift in consumption patterns towards retail channels. The European bottled water market also experienced growth during the pandemic. The region has strict regulations and quality standards for tap water, but the convenience and perceived safety of bottled water made it a preferred choice for many consumers. The shift towards home consumption and online retail contributed to increased sales. In Asia-Pacific, the impact of the pandemic on the bottled water market in Asia-Pacific was mixed. Countries like India and China witnessed a surge in demand for bottled water due to concerns about water quality and hygiene. However, lockdowns and restrictions on movement affected the sales in some areas, particularly those heavily reliant on the on-the-go consumption segment.
