by Bottled water is considered as packaged drinking water that is sold in plastic or glass bottles. Bottled water has various advantages such as convenience of packaging, availability in small quantity, and is considered as safer alternative to tap water in some regions. Due to increasing health awareness among people globally about importance of hydration and consumption of clean water, the demand for bottled water is experiencing steady growth.
The global Bottled Water Market is estimated to be valued at US$ 370.81 Mn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing health awareness is one of the major driving factors for bottled water market growth. More people are actively focusing on their health and overall well-being which has led to increase in consumption of bottled water. Bottled water provides purity and safety compared to tap water especially in regions where tap water quality is not up to the mark. It is considered safer and more hygienic option. Moreover, easy portability and availability of bottled water in small quantities make it a very convenient packaging format. These factors associated with health benefits are expected to further drive the demand for bottled water over the forecast period.
SWOT Analysis
Strength: Bottled water products provide safe and hygienic drinking water in areas without access to clean treated water supplies. This is a key strength of the market.
Weakness: High packaging costs and environmental concerns associated with plastic bottles pose weaknesses for the bottled water market. Disposal of used plastic bottles is a major issue.
Opportunity: Growth opportunities exist in developing regions where infrastructure for piped water services is still being developed. Increased health awareness also contributes to demand.
Threats: Stringent government regulations and taxes imposed on bottled water threaten industry profitability. Alternative drinking options such as water filters also pose threats.
Key Takeaways
Global Bottled Water Market Size is expected to witness high growth over the forecast period of 2024 to 2031 supported by rising health awareness. The global Bottled Water Market is estimated to be valued at US$ 370.81 Mn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.
Regional analysis indicates Asia Pacific will dominate market share and emerge as the fastest growing regional segment. Improving standards of living and economic development in countries such as India and China are driving bottled water consumption in the Asia Pacific region.
Key players operating in the bottled water market are 3M, Armolan, Avery Dennison Corporation, Eastman Chemical Company, HYOSUNG CHEMICAL, Johnson Laminating and Coating, Inc., LINTEC Corporation, Nexfil Co., LTD., Rayno Window Film, Saint-Gobain Performance Plastics, and Toray Industries, Inc. These companies are focusing on innovative packaging solutions to address environmental concerns and gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
