The market, valued at $157.27bn in 2013, is expected to reach $279.65bn by 2020.
The global bottled water market has seen robust growth in recent years due to rise in concern for health and wellness, coupled with support to new packaging initiatives.
In addition, availability of different flavoured and vitamin-rich functional water and portability of hygienic water is also supporting the growth of bottled water globally.
Constraints such as substitution by low-cost tap water and the potential of leaching leading to water contamination are some of the restraining factors, as it has adverse impact on the environment.
Although there are some restraining factors, the bottled water market remains a huge and promising market for small bottlers due to the development of innovative and economical equipment for small bottling operations.
According to TMR, in 2013, the global bottled water market by product was dominated by still bottled water, which accounted for 64.9% of the overall share, followed by carbonated bottled water that accounted for 22.9% of the market share.
People now prefer flavoured water over still, unflavoured water and thus its market is growing at a higher CAGR of 12.3% from 2014 to 2020. Moreover, the presence of artificial additives and sweeteners in the carbonated water that can cause side effects have a vital impact on the shrinking share of the carbonated bottled water segment.
Asia Pacific dominated the global bottled water market and accounted for 33% of the global demand in 2013, followed by Europe which accounted for 28.8% market share in the same year. In the coming six years, Asia Pacific is expected to remain the most promising market, with an estimated CAGR of 10.5% in terms of revenue from 2014 to 2020.
Economies such as China, India, Thailand, Indonesia and Japan are expected to be the chief contributors to this growth. High-volume consumption, bulk water purchase, shifting trend in drinking habits and rising disposable income are some of the traits driving the bottled water market in these regions.
Source: Transparency Market Research
© FoodBev Media Ltd 2022
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