Fact.MR’s recently published report on the global bottled water market projects a healthy forecast, likely to register a 9% value CAGR to reach US$ 450 Bn across the 2021-2031 assessment period. As of 2021, market value is expected to reach US$ 172 Bn. Increased consumer awareness of the health benefits of drinking bottled water is expected to fuel market growth.
Historical data points out that the market experienced steady growth, yielding a CAGR of 6% from 2016 to 2020. Sales especially spiked amidst the COVID-19 pandemic, with consumers stockpiling water supply in order to address shortages encountered during the height of the pandemic crisis. Furthermore, perceived antiviral properties led to an increase in demand for plastic bottled water.
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Key Takeaways from the Market Study
- By product, demand for purified bottled water to surge, holding over 1/3rd revenue
- Spring bottled water held around 26% market value as of 2020
- PET bottled water to register a staggering 10% value CAGR through 2031
- Glass bottled water to yield a revenue share worth US$ 210.5 Bn
- Sales in the U.S are likely to expand at a CAGR of around 7% from 2021-2031
- Germany likely to expand at a CAGR of 8% across the forecast period
- China to register a staggering 12% value CAGR with regard to bottled water demand
“Global demand for bottled water is expected to incline, attributed to an expanding global population base and consequent scarcity of fresh drinking water availability,” says a Fact.MR analyst.
Key Segments Covered
- Spring Bottled Water
- Purified Bottled Water
- Mineral Bottled Water
- Sparkling Bottled Water
- Artesian Well Bottled Water
- Tap Bottled Water
- Distilled Bottled Water
- Wholesale Sale of Bottled Water
- Bottled Water Sold at Supermarkets
- Bottled Water Sold at Convenience Stores
- Bottled Water Sold by Online Retailers
- Bottled Water Sold at Grocery Stores
- Less than 300 ml Bottled Water
- 300-350 ml Bottled Water
- 350- 550 ml Bottled Water
- 1 – 3 Liter Bottled Water
- 3-5 Liter Bottled Water
- More than 5 liter
- PET Bottled Water
- Glass Bottled Water\
- North America
- Latin America
- East Asia
- South Asia
Prominent manufacturers rely on a plethora of expansion and marketing strategies so as to remain afloat in the global market. Key approaches include strategic collaborations, acquisitions and product launches.
- In April 2021, as part of its ongoing portfolio overhaul, Nestle SA decided to sell its bottled water business in the United States and Canada to private equity company One Rock Capital Partners for US$ 4.3 billion, being renamed BlueTriton Brands
- In June 2021, VOSS Water, based in New York, debuted its new VOSS+ brand at select retailers around the U.S in honor of National Hydration Day. Three improved waters will be available in the new range, each meant to assist customers elevate and enhancing their daily lives through unique hydration experiences.