A three-pronged approach was followed for deducing the bottled water market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for bottled water market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of bottled water market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The bottled water market was categorized into four segments, namely product (Still Water, Sparkling Water, Functional Water), packaging (PET, Cans), distribution channel (Off-trade, On-trade), and region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).
The bottled water market was segmented into product, packaging, distribution channels, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The bottled water market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eighteen countries, namely, the U.S.; Canada; Mexico; France; Germany; the UK; Italy; Spain; China; India; Japan; Indonesia; Thailand; Singapore; Brazil; Argentina; South Africa, UAE.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The bottled water market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Nestlé S.A. - Established in 1866, Nestlé S.A., with its headquarters in Vaud, Switzerland, is involved in the production of a diverse array of food items and beverages. The company's operations are divided into seven segments, which include powdered and liquid beverages; nutrition and health solutions; milk products and ice cream; pet care; prepared dishes and cooking aids; confectionery; and water. It manages over 2000 international brands, such as Nescafé, Nespresso, Ninho, Nestlé Pure Life, ReadyRefresh, Starbucks, Maggi, KitKat, and MilkyBar. The water segment of the company produces bottled water, which is marketed and sold under various international brands like Nestlé Pure Life, S. Pellegrino, Vittel, Perrier, Buxton, Acqua Panna, Irikli, and Poland Spring. Nestlé also provides ReadyRefresh, a customizable line of water and beverages. The company is committed to reducing carbon emissions in its product offerings and aims to achieve carbon neutrality for its brands-including S.Pellegrino, Perrier, and Acqua Panna-by 2022. As of December 2020, Nestlé employed approximately 273,000 individuals across 186 nations.
PepsiCo, Inc. - Established in 1965, PepsiCo, Inc. has its corporate headquarters in New York, U.S. The corporation, in partnership with a variety of authorized bottlers, contract manufacturers, and other third-party entities, is involved in the production, distribution, and sale of a diverse range of beverages, foods, and snacks in more than 200 countries. The majority of its products are marketed through direct-store delivery (DSD), customer warehouses, independent distributors, and retailers. The corporation provides two primary product categories, specifically, Food and Beverages. The Beverages category encompasses energy drinks, carbonated drinks, and bottled water. The corporation is structured into six divisions-Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa & Asia (ESSA), and Middle East & North Africa (AMENA). The FLNA division comprises branded food and snack businesses in the U.S. and Canada.
The Coca-Cola Company - Founded in 1886, The Coca-Cola Company has its main office in Georgia, U.S. It specializes in the marketing, production, and sale of beverage concentrates, syrups, and ready-to-drink beverages, which include sparkling soft drinks; water and sports drinks; juice, dairy, and plant-based beverages; and tea & coffee. The company operates 900 bottling plants globally and collaborates with a network of 225 bottling partners around the world. It also owns more than 500 brands, collectively offering over 4300 beverage varieties. The company markets bottled water under the water and sports drinks segment. The key water and sports drinks brands marketed by the company under the Still Beverages segment include Dasani, SmartWater, Aquarius, Vitaminwater, I LOHAS, ZICO, Ciel, Topo Chico, and Powerade. The company also markets premium bottled water under its Dasani, SmartWater, Vitaminwater, and Topo Chico brands. Dasani’s bottled water is enriched with a mix of minerals and is produced through the process of reverse osmosis. It is predominantly distributed and consumed in the U.S., making it America's leading mainstream bottled water brand.
Danone S.A. - Founded in 1919, Danone S.A. is a prominent producer of fresh dairy and plant-based products, with its global headquarters located in Paris, France. The company's operations are divided into three main segments: essential dairy & plant-based products (EDP), waters, and specialized nutrition. It boasts a portfolio of key brands such as Activia, Aptamil, Danio, Danonino, Evian, Nutrilon, Nutricia, Volvic, AQUA, Mizone, Oikos, Prostokvashino, Silk, Vega, and Damavand. The company markets bottled water products under a variety of brands including Font Vella, Evian, Volvic, Hayat, Salus, Mizone, AQUA, Żywiec Zdrój, Villavicencio, Villa del Sur, and Bonafont. In 2019, the company's waters business saw a growth of 1.5%, reaching a sales figure of USD 5.64 billion. This growth is credited to numerous innovations introduced in the category, enhanced packaging, and a streamlined distribution channel. Some of the well-known brands in this category are Volvic and AQUA. The company is also actively involved in its WeActForWater campaign, which focuses on addressing issues related to climate, nature, and access.
Primo Water Corporation - Established in 2004, Primo Water Corporation has its headquarters in North Carolina, U.S. The firm provides a variety of services such as water exchange, water direct, multi-gallon bottled water, water dispensers, and water refill to its global clientele. It functions as a subsidiary of Cott Corporation LLC. The company's business is divided into segments, namely North America and Rest of the World. The primary operating segments of the company are Route Based Services; Coffee, Tea and Extract Solutions, and All Others. The Route Based Services segment offers products like bottled water, coffee, brewed tea, water dispensers, coffee & tea brewers, and filtration equipment. The major subsidiaries operating under Route Based Services are DS Services of America, Inc. (“DSS”); Aquaterra Corporation (“Aquaterra”); Mountain Valley Spring Company (“Mountain Valley”); Eden Springs Europe B.V. (“Eden”); and Aimia Foods (“Aimia”).
FIJI Water Company LLC - FIJI Water Company LLC, originated in 1996, has its main office in California, U.S. The firm is a trailblazer in the production, packaging, and distribution of potable water and a variety of premium beverages worldwide. It's a family-run business with operations in over 50 countries globally. FIJI Water is a high-end bottled water company that sources and ships its water from FIJI. The company's operations are conducted through Conservation International, its only business segment. The supporters and partners of Conservation International include Foundations; Public Funding, NGOs and Multilaterals; Individuals; Corporations; Investments; and Other Income. The company distributes its bottled mineral water via a robust retail channel network and offers convenient home and office delivery services in more than 77 countries. The company's bottled water products, available in its distinctive square-shaped bottles, come in various sizes and containers. The company operates a bottling plant in Fiji, where the Yaqara River, located on the north shore of Viti Levu, one of Fiji's largest islands, serves as the primary water source for bottling. As of the year 2020, the company had a global workforce of 68,000 employees spread across seven countries.
Gerolsteiner Brunnen GmbH & Co. KG - Founded in 1888, Gerolsteiner Brunnen GmbH & Co. KG is a Germany-based company with its headquarters in Gerolstein. The company specializes in the production, packaging, and global distribution of mineral drinking water. It provides customers worldwide with mineral bottled water and mineral-infused soft drinks. Some of its key products are Gerolsteiner Sparkling, Gerolsteiner Medium, Gerolsteiner Naturell (Still), St. Gero Health Water, and carbonated soft drinks made from mineral water. The company markets its mineral water under brands like Gerolsteiner Feinperlig, and Gerolsteiner Mineral Water. It also offers flavored beverages and refreshments. As of December 2018, the company employed a workforce of 800 employees. In that year, the company distributed 8.04 million hectoliters of water globally. The company's products are manufactured and sold in more than 40 countries, including the U.S., Japan, Germany, and the Benelux countries.
VOSS Water - VOSS Water, a company based in Norway, was founded in 1998 and specializes in the production, packaging, and worldwide distribution of mineral drinking water. Its headquarters are located in New York, U.S. Since 2016, it has been operating as a subsidiary of the Reignwood Group, an independent investment company from China. The company provides bottled water in categories such as Still Water, Sparkling Water, Flavored Water, and Flavored Sparkling Water. Its flavored water products are available in glass, cans, and containers made from high-grade 100% recycled PET plastic. VOSS Artesian Water from Norway complies with the bottled water standards for quality and safety at the U.S. Federal, State, Norwegian, and International levels. It offers a variety of products under its VOSS+ line. The company is committed to sustainability and focuses on package optimization, reducing its carbon footprint, and water stewardship. In 2018, the company managed to save 98,000 gallons of water by reducing water usage in its water plants by 15%. The company's bottling plant is situated in Vatnestrøm in the Iveland municipality, from where its products are shipped overseas. VOSS Water's extensive product range is available in over 50 countries worldwide, including the U.S., Canada, the U.K., and Australia.
Nongfu Spring - Established in 1996, Nongfu Spring has its corporate headquarters in Hangzhou, China. The company boasts a state-of-the-art production line for drinking water and is a leading provider of packaged beverages and drinking water in the People’s Republic of China (PRC). It offers a wide range of products including packaged drinking water products, tea beverage products, functional beverage products, juice beverage products, and other products. The company produces approximately 100 million bottles under its Nongfu Spring bottled drinking water brand. The product lineup includes natural drinking water, natural mineral water with sports caps, water specifically for infants and children, natural mineral water in glass bottles, and natural mineral water in zodiac bottles. The company’s packaged drinking water products are sourced from high-quality natural water sources that contain natural mineral elements. The Functional Drinks product segment manufactures and markets functional beverages under brands such as Victory Vitamin Water and Scream. The Others category includes products like soda water beverages, sparkling flavored beverages, coffee beverages, and fresh fruit and plant-based yogurts. The company’s diverse product portfolio is a testament to its commitment to meeting the varied beverage needs of its customers.
Rhodius Mineralquellen Und Getranke GmbH & Co KG - Rhodius Mineralquellen Und Getranke GmbH & Co KG, established in 1958, is based in Burgbrohl, Germany. The company prides itself on its expertise and commitment to quality in the bottling of superior beverages. Annually, it produces and fills 220 million liters of mineral water and other non-alcoholic soft drinks. The company has been consistently investing in production, logistics, technology, and customer service to ensure the longevity of the business. It provides a product range that caters to the demand for non-alcoholic beverages for both retailers and consumers. In association with distribution partners, it circulates RHODIUS brands globally, ensuring that consumers worldwide can enjoy their products. Rhodius Mineralquellen is the owner of well-known brands such as RHODIUS, RHODIUS Gourmet, Vulkanpark-Quelle Eifel POWER POINT, MAYA MATE, Key Cola, and Haindl's. These brands offer a comprehensive and complementary assortment of non-alcoholic beverages for a globally thrilling drinking experience. As of 2019, the company operated state-of-the-art facilities and filled over 300 million cans annually for companies at the international, national, and regional levels as part of its private label facility.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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