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on October 18, 2023
Market Overview: The global packaged water market had a value of USD 217.3 billion in 2022, and it is projected to reach USD 367.12 billion by 2032, with an estimated revenue compound annual growth rate (CAGR) of 6% over the forecast period. This growth can be attributed to several factors.
Factors Driving the Market:
- Convenience and On-the-Go Demand: The market for packaged water is thriving due to the increasing consumer preference for convenient, on-the-go hydration options. Packaged water provides a safe and contaminant-free choice for individuals with active lifestyles, bolstered by the rise in online meal ordering and the hospitality sector's demand for bottled water.
- Premium and Health-Focused Products: Rising disposable incomes and changing consumer preferences have led to an uptick in demand for premium and health-oriented bottled water products. Manufacturers are focusing on creating high-end solutions to provide enhanced hydration and health benefits.
- Sustainability and Eco-Friendliness: The emphasis on sustainability and eco-friendliness has prompted the development of environmentally friendly packaging solutions, including biodegradable bottles and recycled materials.
- Impact of COVID-19: The COVID-19 pandemic has significantly influenced the packaged water market. The need for safe and hygienic drinking water during the pandemic has led to increased demand for packaged water, particularly for domestic use.
- Government Initiatives: Governments worldwide have implemented regulations and guidelines to ensure the safety and quality of packaged water. Additionally, programs aimed at improving access to clean drinking water in developing nations are expected to drive market growth.
Challenges: Despite its growth, the packaged water market faces challenges, including concerns about the environmental impact of plastic packaging and competition from alternative beverages such as energy drinks, sports drinks, and flavored water. Additionally, the cost of packaged water in some regions relative to tap water may restrict market expansion.
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Market Segmentation:
- Product Type: In 2022, the bottled water segment dominated the global packaged water market in terms of revenue. This segment includes various bottled water varieties like filtered water, mineral water, and spring water. Bulk water is primarily used for industrial or commercial purposes, while the "others" category includes flavored water, vitamin water, and other innovative water products.
- Distribution Channel: The market is segmented based on distribution channels, with the retail segment holding a significant revenue share in 2022. Retail outlets such as supermarkets and convenience stores offer a wide selection of bottled water products. Online channels, including e-commerce sites, have gained popularity due to their convenience, and other distribution channels like vending machines and institutional sales also contribute to the market.
- Regional Outlook: Asia Pacific is the largest and fastest-growing market for packaged water, driven by urbanization, a sizable population, and increasing consumption. North America, Europe, and the Middle East and Africa regions also contribute to market growth, with factors such as health awareness, concerns about tap water quality, and the tourism industry playing significant roles.
Competitive Landscape: The global packaged water market is highly competitive, with key players including Nestle S.A., PepsiCo, Inc., Coca-Cola Company, Danone S.A., Bisleri International Pvt. Ltd., Tata Global Beverages Limited, Nongfu Spring Co., Ltd., GerolsteinerBrunnen GmbH & Co. KG, Hangzhou Wahaha Group Co., Ltd., Icelandic Glacial Inc., and CG Roxane, LLC. These companies use strategies like mergers, acquisitions, strategic agreements, and product innovations to maintain a competitive edge.
Strategic Developments:
- Nestle Waters and the Ocean Legacy Foundation partnered to address plastic pollution.
- Veolia and Danone collaborated to create a circular economy for plastic in Southeast Asia.
- Coca-Cola invested in a circular economy for plastics.
- PepsiCo committed to using renewable energy and reducing greenhouse gas emissions.
- Suntory Beverage & Food Limited pledged to reduce its environmental impact.
New Product Launches:
- Nestlé Waters introduced the S.PellegrinoEssenza range of premium sparkling water.
- Danone launched the Evian+ range of bottled water with extra electrolytes and minerals.
- Coca-Cola introduced the AHA line of flavored effervescent water.
- PepsiCo unveiled the Lifewtr premium bottled water range with distinctive artist-designed bottles.
- Suntory Beverage & Food Limited introduced Tennensui 1000, a mineral water line.
Market Segmentation: The global packaged water market report covers segments such as product type (bottled water, bulk water, and others), distribution channel (retail, online, and others), and region, providing a comprehensive overview of the industry.
This report offers insights into the market's historical data, forecast period, revenue in USD billion, and CAGR, with coverage of factors, competitive landscape, growth drivers, and trends in the packaged water market. It also profiles key companies and includes customization options for the report.
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