Demand for Functional and Flavored Bottled Water to See Sustained Increase as Consumers look for Healthy Hydration

2024-11-07 10:28:58 Lifestyle

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The bottled water market is poised for robust growth globally driven mainly by consumers increasingly shifting away from carbonated, sugar-loaded beverages. This change in consumer preferences will drive up demand for various varieties of bottled water, finds Transparency Market Research in its latest report, titled ?Bottled Water Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.? TMR pegs the global bottled water market at US$157.27 bn in 2013, and states that the market is expected to exhibit a CAGR of 8.7% to rise to US$279.65 bn by 2020.

In terms of volume, TMR says that the global bottled water market stood at 267.91.billion liters in 2013 and will rise remarkably to touch 465.12 billion liters by the end of 2020. This translates to a 8.3% CAGR for the global bottled water market in terms of volume. This points toward the growing attractiveness of the bottled water market in the global food and beverage industry. Although there is no dearth of growth impellers for the market for bottled water, companies in the market will find their growth hindered to some degree by the availability of low-cost tap water. While this impact will not be a devastating one?as can be deciphered from the robust growth projections for this market?companies in the bottled water market will nevertheless have to find ways to penetrate the cost-sensitive markets in growth economies.

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TMR identifies two key opportunities for companies in the bottled water market ? designing equipment that will cater to the needs of small-scale bottling operations and the development of sustainable and non-toxic packaging materials that will appeal to eco-conscious consumers.With the presence of a number of local artisanal bottlers and private label brands selling their own brands of bottled water, the global bottled water market is fragmented in nature. This explains why about 60% of the global bottled water market is held by hundreds of bottled water companies of varying sizes. However, two global players ? Groupe Danone and Nestle ? held a sizeable share of the global bottled water market in 2013.

For the purpose of this study, TMR analysts have segmented the global bottled water market based on products and the regional markets. By product type, the global bottled water market is segmented into carbonated water, still water, functional water, and flavored water. In 2013, still water was the largest product segment globally, with a market share (revenue) just short of 65%. However, the demand for flavored and functional bottled water is growing at a faster pace than that for still water as consumers are now looking for products aligned with their fitness and well-being goals.

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In 2013, the carbonated bottled water segment stood as the second largest in the market, accounting for 22.9% of all revenue as of 2013. However, the carbonated bottled water segment is losing its sparkle as more consumers now prefer spending on healthy hydration products.

Likewise, by region, the global bottled water is composed of North America, Europe, Asia Pacific, and Rest of the World. The bottled water market is spread worldwide with processing and bottling operations taking place in numerous countries worldwide. Bottled water exports are proving increasingly lucrative, leading investments to be funneled into the bottled water market. In 2013, Asia Pacific raked in about 33% of all revenues in the global bottled water market. In the next few years, mature markets in North America and Europe will concede ground to growth markets in Rest of the World and Asia Pacific, says TMR.

The market has been segmented as follows:

Bottled Water Market: Product Analysis
Still
Carbonated
Flavored
Functional

Bottled Water Market: Regional Analysis

North America
U.S.
Others
Europe
Germany
Others
Asia Pacific
China
India
Others
RoW
Brazil
Others

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