Bottled Water: Worldwide Market Analysis & Outlook 2018-2023 - CAGR to Grow at 8.5%
DUBLIN, Aug. 20, 2018 /PRNewswire/ --
The "Global Bottled Water Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The bottled water industry was valued at USD 185 billion in 2015 and is expected to reach USD 334 billion by 2023, registering a 8.5% CAGR during the forecast period 2018-2023.
The demand for bottled water has been growing during the last decade, owing to health and wellness concerns. Beverage companies are improving their packaging due to environmental concerns. Coca-Cola has reduced its cap size in bottles that are 24 ounces or smaller in order to reduce the plastic intake by the company.
Market Dynamics
The bottled water industry is driven by the health concerns regarding drinking water. Changing lifestyles, preference for vitamin and minerals rich drinking water, and ease of handling and portability of bottled water are some of the factors driving the market. Bottled water manufacturers are introducing new products with health benefits and new flavors. It is resulting in several product launches in the bottled water market. The new products are offering functional benefits, convenience and better taste which are preferred by consumers.
The growth of PET bottles sector globally has also helped in the widespread supply of bottled water, through wide network organized markets as well as several grocery and club stores. These factors are expected to boost the growth of the bottled water market in the near future.
However, there are a few restraints slowing down the pace of the industry, such as the environmental pollution through plastic bottles. This issue has encouraged the initiation of several stringent government regulations regarding the use of recyclable packaging solutions and adopting ways to help reduce carbon footprint of the industry.
An instance is the European Parliament and Council Directive 94/62/EC. It requires the member states to enforce regulations regarding increased use of reusable or recoverable packaging, volume to reduce hazardous substances and materials and reduction of packaging weight in the packaging, and meet packaging material recovery and recycling targets. Such regulations will hamper the overall development of the global bottled water market. Lack of awareness regarding the health issues associated with low-cost tap water is also a restraining factor.
The major opportunities identified for the bottled water industry are innovative products with minimum environmental and health hazards and penetration in developing markets.
Market Segmentation
The bottled water market can be segmented by types, flavor, distribution channel, and packaging. Still water is the largest sub-segment of bottled water, accounting for more than 65% of the demand, followed by carbonated water. Product innovation in terms of flavor and packaging has triggered the flavored water demand. The segment of still bottled water has dominance in terms of both revenue and volume in the global market. The segment is expected to account for a share of 78% of overall market revenue by 2022. The flavored water segment is expected to witness rapid growth during the forecast period.
Regional Analysis
Asia-Pacific is the largest market in terms of revenue and total consumption, accounting for 33% market share. It is also the fastest growing market for bottled water, covering more than one-thirds of the market demand, supported by the large population, high demand, untapped market and demography, and rapid urbanization. As a result, there is business expansion by almost all the big players in the market. Led by China and India, Asia-Pacific is expected to register the highest CAGR during the forecast period.
Europe is the second largest market, with 28% market share. Other regions like North America, South America, and Africa have a significant share of the bottled water market. North America is a saturated market with steady demand and the highest per capita bottled water consumption currently. U.S. bottled water market has hit an historic high point in 2015, when volume exceeded 11.7 billion gallons.
Competitive Landscape
The bottled water market is fragmented due to the presence of a large number of private label brands and local bottlers. More than 60% of the global market is covered by regional and national level players. The competition is reported to be huge mostly in North America and Europe, where the markets are saturated with slow growth and steady demand.
The growing demand for thirst crunching products, health and hygienic concerns, multiple market distribution channels, and social acceptance of bottled water are expected to help the market grow at a good pace.
The competition is steadily increasing. The internal competition in the bottled water market is comparatively high owing to a large number of major providers of bottled water products and increase in the number of small domestic players in the market.
The global bottled water industry is facing external competition from producers & distributors, which are adopting forward and backward integration strategies to develop their own facilities to produce bottled water.
Key Topics Covered
1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Market Insights
2.1 Market Overview
2.2 Market Trends
2.3 Industry Attractiveness - Porters Five Forces Analysis
2.3.1 Bargaining Power of Suppliers
2.3.2 Bargaining Power of Consumers
2.3.3 Threat of New Entrants
2.3.4 Threat of Substitute Products and Services
2.3.5 Degree of Competition
3. Market Dynamics
3.1 Drivers
3.1.1 Changing Lifestyles and Rising Health Concerns
3.1.2 Hike in Consumption of Processed Foods and Confectionery
3.1.3 Ease of Handling and Portability of Bottled Water
3.2 Restraints
3.2.1 Environment Concerns due to Plastic Bottles
3.2.2 Lack of Awareness Regarding Health Issues Associated with Low-cost Tap Water
3.3 Opportunities
3.3.1 Innovative Products with Minimum Environmental (and Health) Hazards
3.3.2 Penetration in Developing Markets
4. Market Segmentation
4.1 By Type
4.1.1 Introduction
4.1.2 Still Water
4.1.3 Sparkling Water
4.1.4 Functional Water
4.2 By Flavor
4.2.1 Introduction
4.2.2 Flavored
4.2.3 Non-flavored
4.3 By Packaging Type
4.3.1 Introduction
4.3.2 PET Bottles
4.3.3 Glass Bottles
4.3.4 Others
4.4 By Distribution Channel
4.4.1 Introduction
4.4.2 Supermarket and Hypermarket
4.4.3 Convenience Store
4.4.4 Home and Office Delivery (HOD)
4.4.5 On-trade
4.4.6 Others
5. Regional Market Analysis
5.1 North America
5.1.1 US
5.1.2 Canada
5.1.3 Mexico
5.1.4 Rest of North America
5.2 Europe
5.2.1 Spain
5.2.2 UK
5.2.3 France
5.2.4 Germany
5.2.5 Russia
5.2.6 Italy
5.2.7 Rest of Europe
5.3 Asia-Pacific
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 Australia
5.3.5 Rest of Asia-Pacific
5.4 South America
5.4.1 Brazil
5.4.2 Argentina
5.4.3 Rest of South America
5.5 Africa
5.5.1 South Africa
5.5.2 Rest of Africa
6. Competitive Landscape
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
7. Company Profiles
7.1 Ajegroup SA
7.2 CG Roxane, LLC
7.3 The Coca-Cola Company
7.4 Groupe Danone
7.5 Fonti Di Vinadio SpA
7.6 HassiaWaters International GmbH & Co. KG
7.7 Hangzhou Wahaha Group Co. Ltd.
7.8 Grupo Vichy Catalan
7.9 Icelandic Water Holdings EHF
7.10 Mountain Valley Spring Company LLC
7.11 Nestle SA
7.12 PepsiCo Inc.
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