Pune, India, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The global drinking water market size will gain traction from the convenience offered by bottled water and heightened awareness about consuming safe water. Easy usage and portability are encouraging consumers to seek bottled water. Surging demand for packaged drinking water among millennials will drive industry growth. Fortune Business Insights™ has deep-dived into these insights in an upcoming research report, titled, “Drinking Water Market, 2023-2030.”
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Some of the Leading Companies Profiled in the Drinking Water Market:
- PepsiCo (U.S.)
- Nestlé (Switzerland)
- The Coca-Cola Company (U.S.)
- Gerolsteiner Brunnen GmbH & Co. KG (Germany)
- Danone (France)
- Bisleri International Pvt. Ltd. (India)
Report Scope & Segmentation:
| Report Attribute | Details |
| Base Year | 2022 |
| Historical Year | 2019 – 2021 |
| Forecast Year | 2023 – 2030 |
| Segments Covered | By Type, By Material, By Geography |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2020 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
COVID-19 Impact:
Pandemic Triggers Demand for Bottled Water and Creates Supply Chain Disruptions
The prolonged, unplanned and sudden supply chain disruptions in the bottled water portfolio have compelled stakeholders to rethink their strategies. With an unprecedented demand for drinking water, bottle manufacturers have ramped up production. For instance, the International Bottled Water Association (IBWA) cited the Federal Emergency Management Agency’s (FEMA) recommendation stating that people should have at least 1 gallon of water per person per day available for emergencies. Leading organizations are vouching for bottled water to keep up with the demand during public health emergencies.
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Segments:
Mineral Water to Gain Ground from Burgeoning Urbanization
In terms of type, the market is segmented into spring water, distilled water, sparkling water, mineral water and others. Based on distribution, the industry is segregated into convenience stores, supermarkets/hypermarkets, online retailers and others. On the basis of geography, the market covers Europe, North America, Asia Pacific, the Middle East & Africa and South America.
The mineral water segment will contribute notably towards the global market owing to its innate ability to provide potential health benefits. Besides, several studies have claimed that mineral water could minimize bad cholesterol and boost good cholesterol.
Report Coverage:
The research report offers insights on industry dynamics, including drivers, opportunities, restraints and trends. The primary interviews have been used to validate assumptions, findings and a holistic view of the prevailing business scenarios. The report has been prepared through secondary resources, including annual reports, press releases, white papers and journals. Furthermore, quantitative and qualitative analyses have been used to assess market revenues.
Drivers and Restraints:
Preference for Alternative to Carbonated and Sugary Drinks to Bolster Growth Potentials
With water becoming a go-to beverage of choice, sparkling water bottles have become highly sought-after globally. Beverage manufacturers are expected to bank on bottled water following the surge in demand for a packaged product free from sweeteners, preservatives and artificial flavors. The drinking water market share will gain ground from investments in innovations. For instance, in March 2021, Cloud Water Brands raised USD 2.7 million in seed round funding to bolster its beverage portfolio. The new funding came against the backdrop of the release of sparkling Cloud Water + Immunity in October 2020. Advanced economies, such as the U.S., the U.K., France, Germany and Japan, are likely to spearhead the penetration of sparkling beverages.
Meanwhile, plastic packaging of bottled water and possible contamination may dent the growth prospect.
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Regional Insights:
North America to Stay at the Helm with Consumer Shift towards Healthy Hydration
Bottled water has gradually reaffirmed its position as one of the top packaged drinks across the U.S., partly due to the demand for healthy hydration. Considering the demand for holistic healthy living options, stakeholders are likely to seek innovations and evidence-based products to underpin consumers’ bodies and minds. Some factors, such as bulk water purchases, high volume consumption and shifting trends in drinking habits, are likely to act as growth enablers in North America.
Asia Pacific drinking water market growth could observe an appreciable gain during the forecast period on the heels of rising consumer awareness about hygiene and rising contamination. The burgeoning population has further triggered the demand for bottled water owing to portability and the need for sanitation of drinking water. It is worth noting that bottled mineral water will continue to gain ground with the burgeoning middle-class population and rise in per capita income.
Competitive Landscape:
Leading Companies Invest in Product Launches to Bolster their Footfall
Stakeholders are likely to invest in product rollouts, technological advancements, mergers & acquisitions, and geographical expansion in the competitive global market. Well-established players and new entrants are poised to invest in R&D activities to expand penetration across untapped areas.
Some of the industry developments are elucidated below:
- July 2021: National Beverage Corporation rolled out a trio of new flavors of sparkling water to boost the penetration of zero-sugar and zero-calorie products.
- March 2021: PespsiCo asserted it helped over 55 million people globally to gain access to safe water. It has also catalyzed around USD 700 million in additional funding to underpin safe water access investments.
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