Bottled Water Market

Market Overview:

The global bottled water market size reached US$ 255.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 455.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.5% during 2024-2032. The escalating demand for flavored water, collaborations between bottled water brands and sports and tourism industries, and the convenience of online shopping and direct-to-consumer (DTC) sales channels are some of the major factors propelling the market.

Global Bottled Water Market Analysis: 

• Major Market Drivers: The increasing concerns about several health issues, including gastrointestinal diseases caused by the consumption of contaminated water are driving the growth of the market. This is further leading to increasing demand for clean and hygienic packaged options, which is further boosting the market growth. The rising drinking water scarcity in various regions across the globe is further driving the demand for safe drinking water which is leading 2 enhanced product sales and fueling the market growth.
• Key Market Trends: The growing preference for nutrient-fortified water is influencing the market trend across the globe. This is primarily attributed to the increasing significance of health and Wellness among consumers which is acting as a major growth-inducing factor in the market. The Rising demand for products with labels like electrolyte-rich, alkaline, caffeinated water, fortified with additional oxygen or hydrogen among working professionals, in-house consumers, and travelers is gaining consumer traction.
• Geographical Trends: Asia Pacific accounted for the largest region in the bottled water market. The rising consciousness regarding the significance of health and wellness among consumers Represents one of the key factors influencing the growth of the market in the Asia Pacific region. This is primarily attributed to the increasing demand for hygienic consumables which is driving the market growth in the region. The growing demand for bottle options along with the rising awareness regarding the importance of hygienic beverage options are creating a positive bottled water market future outlook.
• Competitive Landscape: Some of the major market players in the bottled water industry include Bisleri International Pvt. Ltd., Danone S.A., Gerolsteiner Brunnen GmbH & Co. KG, Nestle S.A., Nongfu Spring (Yangshengtang Co. Ltd.), Otsuka Pharmaceutical Co. Ltd., PepsiCo Inc., Primo Water Corporation, Tata Consumer Products Limited, The Coca-Cola Company, and among many others.
• Challenges and Opportunities: The bottled water market witnessed various challenges such as environmental concerns owing to plastic waste, regulatory scrutiny over water sources and labeling, and competition from water filtration systems. However, the market also encountered significant opportunities including the increasing demand for healthy, convenient hydration options. Innovations in eco-friendly packaging such as biodegradable materials and the expansion into flavored and functional waters
   

Bottled Water Market Trends:

Increasing health and wellness consciousness

The rising health and wellness consciousness among individuals represents one of the key factors catalyzing the demand for bottled water. According to EY, 40% of Indian respondents stated that they will pay a premium for products promoting health and wellness which is higher than their global counterparts (29%). The increasing demand for alkaline and vitamin-infused water among fitness freaks is stimulating the bottled water market growth. According to the EY India’s report, ‘The Sunrise Consumer Health and Nutrition Sector’- around 94% of Indians are worried about their family's health against 82% globally, while 52% of respondents think changes in their approach to mental well-being will persist beyond COVID-19, globally it is just 39%. As per a rereport published in Reuter, consumption of bottled water is expected to increase from around 350 billion litres in 2021 to 460 billion litres by 2030.

Growing environmental concerns

The growing environmental concerns among the masses are encouraging them to purchase products with eco-friendly packaging. According to a survey by Aquasana, 52% of respondents noted they use a water filter because it's environmentally friendly, making this the most common reason among Americans in 2023 and up from 41% in 2022. This is further boosting the bottled water industry statistics. Bottled water companies are implementing eco-friendly production processes and experimenting with alternative packaging materials like glass, aluminum, and cardboard cartons as they are more recyclable and have a lower environmental impact compared to traditional plastic bottles. For instance, in August 2022, FIJI Water transitioned its iconic and best-selling 500ML and 330ML bottles to 100% recycled plastics (rPET) in the US, with its longstanding commitment to environmental sustainability. The move is a substantial step in reducing plastic waste and replaces almost 65% of FIJI Water’s bottle volume in the US with recycled material. This is further supporting the bottled water market research across the globe.

Convenience and on-the-go lifestyle

The market is also driven by rapid urbanization and the modern, fast-paced lifestyles of individuals. This is primarily due to bottled water offering a convenient and hassle-free way to stay hydrated in various settings such as workplaces, fitness centers, and while traveling which is driving the market growth. The rising focus of various manufacturers on innovating and producing products to offer consumers convenience Including the development of resealable caps, easy-to-carry packaging, and smart dispensers that enhance the overall convenience of bottled water consumption which is further bolstering the growth of the market. For instance, in March 2023, Hiru Corporation announced that it had entered into a new multi-million-dollar co-packing agreement with VOSS Water, a high-end user of high-end still and sparkling water products. This is expected to fuel the bottled water market forecast over the upcoming years.

Bottled Water Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global bottled water market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product type, distribution channel and packaging type.

Breakup by Product Type:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific exhibits a clear dominance, accounting for the largest bottled water market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

According to the report, Asia Pacific accounted for the largest market share due to rapid urbanization in the region. According to UN-Habitat, urbanization continues to be a defining megatrend in the Asia Pacific region. 54% of the global urban population, more than 2.2 billion people, live in Asia. By 2050, the urban population in Asia is expected to grow by 50%-an additional 1.2 billion people. The increasing income levels of people are allowing them to spend more on premium bottled water brands, including those offering natural spring water or unique mineral content. Moreover, the rising prevalence of water-borne diseases in various countries of the Asia Pacific region due to increasing water pollution levels is strengthening the growth of the market. According to the Economic Times, in July 2023, the Delhi government issued an advisory mentioning dos and don’ts cautioning that there is an increased risk of contracting water-borne diseases, like diarrhea, dysentery, and cholera in the rainy season.

Competitive Landscape:

Bottled water companies are actively working on reducing their environmental footprint by adopting sustainable packaging solutions. This includes using lighter and eco-friendly materials, such as recycled PET plastic, biodegradable plastics, glass, and aluminum to minimize the impact of single-use plastic bottles. Apart from this, they are exploring alternative packaging formats like box cartons and pouches that have a lower environmental impact and are more recyclable. Furthermore, they are focusing on differentiating their brands based on factors like source uniqueness, purification methods, and environmental sustainability. Moreover, many companies are continuously investing in distribution networks and marketing strategies tailored to local preferences and market conditions.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Bisleri International Pvt. Ltd.
• Danone S.A.
• Gerolsteiner Brunnen GmbH & Co. KG
• Nestle S.A.
• Nongfu Spring (Yangshengtang Co. Ltd.)
• Otsuka Pharmaceutical Co. Ltd.
• PepsiCo Inc.
• Primo Water Corporation
• Tata Consumer Products Limited
• The Coca-Cola Company
   

Recent Developments:

• In September 2023, Bisleri International, India's leading packaged drinking water company, announced the successful restoration of the Ladakh reservoir in the Kyagar region of Tegar Village, Nubar Valley, Leh. The ambitious project, undertaken by Bisleri, aims to strengthen the local community's resilience and alleviate the risk of water scarcity.
• In February 2023, Bisleri International Pvt. Ltd. announced its first overseas foray and partnering with Dubai-based Nasser Abdulla Lootah Group that will distribute the company’s brands in Dubai, Sharjah, and Abu Dhabi.

Bottled Water Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the bottled water market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global bottled water market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the bottled water industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.