The scope of The Insight Partners recent study on “The global Bottled Water Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Sparkling and Still), Category (Functional and Conventional), Flavor (Plain and Flavored), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)” includes the factors fueling the market growth; revenue estimation, forecast, and market share analysis; and the identification of significant market players and their key developments. The bottled water market is expected to grow from US$ 228.84 billion in 2022 to US$ 322.85 billion by 2028; it is estimated to grow at a CAGR of 5.9% from 2022 to 2028.
Initially, in 2020 the COVID-19 pandemic adversely affected the bottled water market due to the shutdown of manufacturing facilities and the restrictions on transportation and logistics. The disruptions in the supply chain hampered the supply of bottled water. However, businesses are growing as governments of various countries have eased imposed restrictions. Moreover, vaccination drives have led to a rise in business activities across the globe. The start of operations in the bottled water manufacturing units is positively impacting the bottled water market. The relaxation of lockdown restrictions has led to the opening up of supermarkets and hypermarkets as well as retail stores, which is increasing the availability and supply of bottled water, thus, having a positive impact on the bottled water market.
Drinking polluted water leads to a number of health issues, including gastrointestinal issues, reproductive issues, and brain abnormalities. The growing public awareness of the hazards of polluted water is driving up the demand for bottled water worldwide. The easy availability of bottled water at various retail outlets such as groceries, supermarkets, and convenience stores has played an exponential role in the rapid growth of the global bottled water industry.
Clean drinking water offers essential nutrients to the body, enhances digestion, maintains the body's chemistry, and aids in the maintenance of an average body temperature. As tap water quality deteriorates, the demand for bottled water is likely to grow in the future. Furthermore, as the demand for healthier alternatives grows, industry players are concentrating their efforts on supplying customers with more nutritious beverages, such as flavored water and functional water.
The leading global bottled water market players include Danone S.A., Bluetriton Brands, Inc., Fiji Water Company LLC., Gerolsteiner Brunnen Gmbh And Co. Kg, Nestlé S.A., Nongfu Spring, PepsiCo, Inc., Rhodius Mineralquellen und Getränke GmbH & Co. KG, The Coca-Cola Company, and Voss of Norway AS.. These players are focused on strategies such as research and development and new product development to increase the geographical presence and consumer base globally.
Based on distribution channel, the bottled water market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment is expected to be the fastest-growing segment in the bottled water market. Supermarkets and hypermarkets are huge retail establishments offering an extensive range of products such as groceries, personal care, and household products. These stores provide products from various brands at a reasonable price. Shoppers can easily find the right product at such stores. Moreover, these stores offer attractive discounts, multiple payment options, and a pleasant customer experience. Bottled water manufacturers increasingly prefer selling their products through supermarkets and hypermarkets, owing to heavy customer footfall. Moreover, many leading bottled water manufacturers sell their products through well-known supermarkets such as Walmart, Aldi, and Carrefour, owing to their customer reach and wide distribution network.
Read More: https://www.theinsightpartners.com/reports/bottled-water-market
0
