Global Bottled Water Market to Reach $183.7 Billion by 2026
SAN FRANCISCO, May 25, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Bottled Water - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 18; Released: May 2021
Executive Engagements: 11623
Companies: 972 - Players covered include Bai Brands LLC; Balance Trading Company; CG Roxane, LLC; Danone S.A.; FIJI Water Company LLC; Gerolsteiner Brunnen GmbH & Co. KG; Hangzhou Wahaha Group Co., Ltd.; Icelandic Water Holdings hf.; National Beverage Corp.; Nestlé Waters; Niagara Bottling, LLC; PepsiCo, Inc.; Premium Waters, Inc.; The Alkaline Water Company, Inc.; The Coca Cola Company; Tibet Water Resources Ltd.; VEEN Waters Finland Oy Ltd.; Vichy Catalan Corporation; Voss of Norway AS and Others.
Coverage: All major geographies and key segments
Segments: Product (Spring Water, Purified Water, Mineral Water, Sparkling Water, and Other Products); Packaging Material (PET, and Glass)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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ABSTRACT-
Global Bottled Water Market to Reach $183.7 Billion by 2026
Quality and taste are the two parameters that differentiate bottled water from tap water. The major difference between the two is that tap water contains chlorine, which is added to prevent water from recontamination, as it moves out through pipes for domestic supply. Bottled waters, spring water in particular, contain approved levels of chloride, nitrate, chloride, sodium and sulfate. Most of the bottled water is sourced from protected reservoirs such as artesian wells, springs, and drilled wells. Amid the COVID-19 crisis, the global market for Bottled Water estimated at US$135.8 Billion in the year 2020, is projected to reach a revised size of US$1863.7 Billion by 2026, growing at a CAGR of 6.2% over the analysis period. Spring Water, one of the segments analyzed in the report, is projected to grow at a 7.5% CAGR to reach US$37.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Purified Water segment is readjusted to a revised 5.9% CAGR for the next 7-year period. This segment currently accounts for a 31.7% share of the global Bottled Water market.
The U.S. Market is Estimated at $36.6 Billion in 2021, While China is Forecast to Reach $38.3 Billion by 2026
The Bottled Water market in the U.S. is estimated at US$36.6 Billion in the year 2021. The country currently accounts for a 27.06% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$38.3 Billion in the year 2026 trailing a CAGR of 9.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 4.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR while Rest of European market (as defined in the study) will reach US$44.7 Billion by the end of the analysis period. Growth in these regional markets is fueled mainly by the growing consumer awareness about health and waterborne diseases due to consumption of unsafe drinking water. In fact contaminated water is identified as one of the leading causes of a number of waterborne diseases such as typhoid, malaria, food poisoning and diarrhea among others.
The portable and convenient nature of bottled water is a major contributor to the growing sales of bottled water, as packaged bottles in convenient packages allow consumers to carry water while on-the-go. In the coming years, rapidly changing consumer lifestyles, shortage of time, and the growing need for convenient and safety sources of drinking water will continue to spur sales of bottled water
Mineral Water Segment to Reach $69.5 Billion by 2026
In Europe, natural springs comprise the basic source for all mineral waters, while in the US, mineral water is obtained from either a spring source or bore hole near a spring. An emerging trend in the market is growing popularity of flavored water which is mineral water infused with various flavors, sweeteners, and fruit extracts. Some of the new introductions include innovative flavors such as organic apple cinnamon, organic tangerine and organic lemon. Beverages with herb and fruit extracts are expected to register fastest growth in the market. In the global Mineral Water segment, USA, Canada, Japan, China and Europe will drive the 5.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$38.7 Billion in the year 2020 will reach a projected size of US$57.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$8.8 Billion by the year 2026, while Latin America will expand at a 7.5% CAGR through the analysis period. More
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