Bottled Water Market Size is Estimated to Witness 6.7% CAGR till 2030

[sara James]

The global Bottled Water Market size is expected to reach USD 509.2 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.7% from 2022 to 2030. Increasing demand for bottled water owing to the rising scarcity of fresh and pure drinking water across the globe is driving the market. Factors such as health benefits with added minerals and nutrients are likely to fuel the demand for bottled water over the forecast period.

Growing awareness regarding the adverse health effects of consuming sugary drinks, such as weight gain, obesity, diabetes, and heart disease, is supporting the consumption of alternative beverages such as still and sparkling water. The trend of switching from sugary drinks to healthier options is observed in several countries such as Germany, the U.S., the U.K., and France. This has widened the scope for bottled water across the globe.

Purified water emerged as the largest product segment in 2021 and is expected to maintain its lead over the forecast period. With water likely to become an even scarcer resource in the coming years, the demand for potable water is increasing across the world, especially in developing economies with a rapidly rising population. Countries in the Africa and Asia Pacific regions are expected to witness considerable demand for purified water over the course of the forecast period. According to the U.S. and International Developments and Statistics, July 2021, Asia is one of the biggest regional players in the market with China accounting for more than one-quarter of the world’s bottled water volume.

The off-trade distribution channel segment held the largest revenue share in 2021 owing to the presence of a large number of retail stores across the globe. Further, in developed countries, convenience stores and supermarkets/hypermarkets are popular places to purchase bottled water; thus, this market segment is growing rapidly. According to NACS Convenience Tracking Program (CTP) data, 2019 convenience stores in the U.S. sold nearly 50% of all single-serve bottled water. The market is fragmented with the presence of a large number of regional and local players. Major companies in the market are focusing on new product launches, capacity expansions, and technological innovations.

Related Press Release@ Bottled Water Market Report

Bottled Water Market Report Highlights

• By product, sparkling bottled water is projected to register the fastest growth rate over the forecast period as it helps stave off dehydration and protects from digestive issues and complications with the heart and kidneys
• The on-trade distribution channel segment is anticipated to witness lucrative growth during the forecast period owing to the opening of economies post-COVID-19 pandemic
• Asia Pacific is expected to register the fastest growth rate during the forecast period. Strong demand for clean and hygienic drinking water in countries including Indonesia and India is driving the market in the region