Views: 15 Author: Site Editor Publish Time: 2019-03-20 Origin: Site
The global bottled water market size is expected to reach USD 215.12 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to register a CAGR of 7.4% during the forecast period. It is anticipated to witness a higher growth as compared to carbonated drinks on account of better health benefits and added nutrients. Factors such as increase in per capita spending and rapid urbanization are likely to fuel the demand for bottled water over the forecast period.
However, higher cost of bottled water may restrain the growth of the market.On the other hand, growing awareness regarding benefits of bottled water coupled with increasing preference for active lifestyle is expected to play a significant role in driving the market.
Companies such as PepsiCo Inc. launched premium priced bottled water in order to strengthen consumer interest in healthier beverages.
Some of the key companies in the market are Mountain Valley Spring Water; Nestlé S.A.; Tata Global Beverages; Danone Waters of America, Inc.; PepsiCo, Inc.; Gerolsteiner Brunnen GmbH & Co. KG; RHODIUS Mineralquellen und Getränke GmbH & Co. KG; Nongfu Spring; Bisleri International Pvt. Ltd.; and The Coca-Cola Company.
Further key findings from the study suggest:
• The spring bottled water segment accounted for revenue share of over 17.0% in 2016
• Mineral bottled water accounted for the largest market share in 2016 and is expected to witness a CAGR of 7.3% over the forecast period. This is due to its added nutrients compared to spring water and the fact that mineral water is less processed than sparkling water
• Sparkling bottled water witnessed a share of 8.0% in 2016 and is expected to witness a significant growth over the forecast period owing to increasing demand for alternatives for carbonated beverages
• Asia Pacific is likely to be the dominant regional market for bottled water over the forecast period. Rising population coupled with rapid urbanization in countries such as India, China, Indonesia, and Malaysia is likely to be the key driver for the market
• Regional expansion and R&D are the key strategies adopted by most of the key companies to strengthen their market position.
• In November 2017, The Coca-Cola Company launched its bottled water brand Kinley in Nepal in order to gain domestic market share. In March 2017, Nestlé Waters collaborated with Danone and Origin Materials to develop PET plastic bottles, which were made from 100% renewable and sustainable resources.