Latest News- Bottled Water Market: Still drinking water is expected to lead the Product segment during 2024-2028

The Bottled Water Market is being driven by Increasing premiumization of bottled water

The Bottled Water Market is expected to grow at a CAGR of 6.12% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 112.8 billion. Bottled water manufacturers continue to innovate packaging formats to enhance consumer appeal and differentiate their products in the market. This trend has positively impacted sales, with eco-friendly and luxury packaging formats gaining popularity. In response to growing environmental concerns, many manufacturers are adopting sustainable packaging solutions, such as biodegradable or recycled materials. Notable companies, like Danone and Nestle, have introduced PET plastic bottles made from bio-based materials, demonstrating a commitment to reducing the industry's environmental footprint. These initiatives not only cater to evolving consumer preferences but also contribute to the long-term sustainability of the bottled water market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Still drinking water
  • Sparkling water
  • Bottled spring water
• Distribution Channel
  • Off-trade
  • On-trade
• Geography
  • APAC
    • China
  • North America
    • Mexico
    • US
  • Europe
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing premiumization of bottled water
• Rise in consumption of bottled water by urban consumers
• Growing demand for bottled water

However, the market also witnesses some limitations, which are as follows:

• Threat from alternative products such as juices, and soft drinks
• Rising concerns about plastic waste and its disposal
• Stringent safety and quality regulations on bottled water

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Market Scope in Bottled Water Market Research Report

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Research Analysis Overview

Amidst gastrointestinal diseases and contaminated water, the demand for safe drinking water has surged. Nutrient-fortified bottled water caters to health-conscious consumers, including working professionals and in-house consumers. The coronavirus outbreak and logistical challenges have boosted sales. Aluminum bottled water offers convenience, while still, sparkling, flavored, and mineral waters cater to diverse preferences. The tourism industry and fear of diseases further fuel the market growth. Draw a Smile: The bottled water market is thriving, providing safe and diverse options such as still, sparkling, flavored, aluminum, and mineral waters, addressing drinking water scarcity and contamination concerns.

Market Research Overview

The global soft drinks and non-alcoholic beverages market encompasses sectors such as carbonated beverages, juices and juice concentrates, bottled water, functional beverages, sports drinks, and others. Innovations and new product launches, including bottled alkaline water, carbonated drinks with added amino acids, and caffeinated bottled water, are key growth drivers. Consumer preference for convenience and concerns over contaminated tap water contribute to the increasing popularity of bottled water. Despite drinking water scarcity in certain regions, the market is projected to expand significantly due to these factors. Convenience stores are major distribution channels for these beverages, further fueling market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/