According to a new report published by Allied Market Research, titled, “Bottled Water Market by Type: Global Opportunity Analysis and Industry Forecast, 2014–2022,” the bottled water market was valued at $169,863 million in 2015 and is projected to reach $319,860 million by 2022, growing at a CAGR of 9.5% from 2016 to 2022. Still bottle water segment dominated this market, occupying more than 35% of the total share of the market volume in 2015.
Summary of Bottled Water Market Report can be accessed on the website at: https://www.alliedmarketresearch.com/bottled-water-market
As per Eswara Prasad, Team Lead, Chemicals & Materials at Allied Market Research, “The functional water bottle segment is expected to witness the highest growth, owing to increasing consumer inclination towards energy-based beverages with added minerals.”
Convenience is a major factor that supports the growth of this market. Moreover, the threat of waterborne diseases such as diarrhea, malaria, and typhoid encourages people to consume fresh and healthy contaminant-free water, which increases the demand for bottled water. In addition, premium quality and taste of bottled water is another major factor fueling the market growth. Rise in health awareness and ergonomic nature of bottled water as it is portable and convenient for use are other key factors that drive the growth of the bottled water market over the forecast period.
In 2015, the still water segment occupied more than two-thirds of the overall bottled water market volume, and is expected to maintain its lead throughout the forecast period. This is due to increase in inclination of health-conscious consumers towards the portability and convenience of bottled water.
Key findings of the study:
- Functional water is anticipated to grow at the highest CAGR during the analysis period.
- Asia-Pacific is estimated to continue to lead the market, growing at a CAGR of 10.6%, in terms of volume.
- China occupied more than one-third of the total share of the Asia-Pacific bottled water market in 2015.
- India is estimated to grow at the highest CAGR of 15.1%, in terms of revenue.
- Carbonated bottle water accounted for more than two-ninths of the global bottled water market and is anticipated to register a significant CAGR over the forecast period.
- Still bottle water accounted for the highest share and is projected to maintain its dominance throughout the forecast period.
North America accounted for the largest share in this market, owing to increase in consumer awareness towards mineral and bottled water. Asia-Pacific is further expected to account for the second largest share in the global market, due to increase in population as well as introduction to new and advanced options of bottled water. This region is anticipated to register the highest growth rate during the forecast period.
Key players in this market concentrate to acquire local players to strengthen their market reach as well as to expand their customer base. Major companies profiled in the report include PepsiCo Inc., Nestlé Waters, The Coca Cola Company, Hangzhou Wahaha Group Co., Ltd., Danone, Natural Waters of Viti Ltd., Mountain Valley Spring Company, Icelandic Glacial Inc., and Dasani.
Read similar market research reports on Chemicals & Materials at: https://www.alliedmarketresearch.com/materials-&-chemicals/speciality-and-fine-chemicals-market-report