New York, USA, April 25, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global spring water market is anticipated to garner a revenue of $465.2 billion and rise at a CAGR of 8.7% during the estimated period from 2022 to 2031.
As per our analysts, the increasing concerns of a wide variety of health issues caused by water contamination among individuals such as reproductive problems, neurological illnesses, and gastrointestinal sickness are expected to foster the growth of the spring water market over the analysis period. Besides, the rising production of new water products ensuring the fundamental features of conventional water is expected to amplify the growth of the market during the forecast period. Moreover, the rising awareness of the health benefits of spring water among individuals and the increasing demand for spring water in the food and beverage business, and the various health benefits of spring water due to the high presence of minerals are predicted to create massive growth opportunities for the spring water market over the estimated timeframe. However, the high cost of spring water bottles may impede the growth of the market throughout the analysis period.
Request an Exclusive PDF Sample of the Spring Water Market (Including Tables, TOC, and Figures)
Segments of the Spring Water Market
The report has divided the market into segments based on type, distribution channel, and region.
Type: Bottled Sub-Segment to be Most Productive
The bottled sub-segment held the highest share of the market in 2021. This is mainly because spring water is the most prevalent type of bottled water. Moreover, the bottled spring water is naturally filtered and ready to drink with no subsequent processing which is predicted to bolster the growth of the market sub-segment over the forecast period.
Distribution Channel: Hypermarkets/Supermarkets Sub-Segment to be Most Lucrative
The hypermarkets/supermarkets sub-segment is expected to have the fastest growth over the estimated timeframe. This is mainly because supermarkets or hypermarkets have extensive grocery store networks with a global client base. Furthermore, these companies offer attractive discounts, doorstep delivery, quick accessibility, and quick verification, which is expected to amplify the growth of the market sub-segment during the analysis period.
Europe Region Held the Largest Market Share in 2021
The Europe region of the spring water market generated the biggest market share in 2021. This is majorly due to the increased demand for spring water, increasing awareness of waterborne diseases, rapid urbanization, surging disposable income, and rising health consciousness among people across the region. Moreover, the growing demand for functional water and the fast-rising organized retail sector in the region is expected to drive the regional growth of the market over the estimated period.
Ask an Expert Analyst or Schedule a call to Get the Latest Trends on Spring Water Market
Covid-19 Impact on the Spring Water Market
Initially, the rise of the Covid-19 pandemic has increased the demand for bottled water as consumers across the globe started storing water in anticipation of lockdowns and limited stocks. However, the downfall of the tourism industry has decreased the sales of bottled water. Moreover, with the risk of spreading infection among workforces and government-imposed regulations, many bottled water businesses have scaled back their operations during the pandemic period. However, the reopening of hotels and restaurants post the Covid-19 pandemic is expected to increase the demand for bottled water which may lead to boosting the growth of the spring water market.
Key Players of the Spring Water Market
The major players of the market include
- Coca-Cola (Valpre)
- Ten Spring Water
- Danone (Evian)
- PepsiCo
- 3 Spring Water
- Nestle S.A.
- Mountain Valley Spring Water (Primo Water Corp.)
- CG Roxane LLC
- Tata Consumer Products Limited (Himalayan)
- Orient Beverages Pvt. Ltd. (Bisleri International Pvt. Ltd.)
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to gain a leading position in the global industry.
Request an On-Demand Customization of the Specific Segments or Regions on the Spring Water Market
For instance, in February 2021, Nestlé S.A., a Swiss multinational food and drink processing conglomerate corporation announced its partnership with Metropoulos & Co., a leading manufacturer of high-quality, branded convenience food products. With this partnership, Nestlé S.A. aimed to sell its regional spring water brands, beverage delivery services, and purified water business in the U.S. and Canada.
Further, the report also presents other important aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
More about Spring Water Market:
- How Can Spring Water Reverse the Damages Done by Unhealthy Urban Lifestyle?
- Global Spring Water Market to Generate $465.2 Billion by 2031, Owing to Increase in Health Concerns Associated with Contaminated Water
