The global bottled water market size is expected to reach USD 505.19 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.1% from 2021 to 2028. The growing awareness regarding the adverse health effects of consuming sugary drinks, such as weight gain, obesity, diabetes, and heart disease, is supporting the consumption of alternative beverages, such as still and sparkling water.
The growth of the market is primarily attributed to rising awareness regarding the importance of hydration. According to a study conducted by the International Bottled Water Association in 2018, it was revealed that 93% of American citizens want bottled water to be sold in most stores selling beverages. A substantial part of the population prefers to quench their thirst using bottled water over other beverages.
Increasing preference for nutrient-fortified water is trending owing to the rising importance of health and wellness among buyers. The water demand has been increasing among travelers, working professionals, and for use in households.
COVID-19 has impacted the market for bottled water as many quick-service restaurants have been witnessing a significant drop in their sales. For instance, according to a blog post by CNBC LLC, McDonald’s had witnessed a decline of 22% in March compared to the previous month. COVID-19 compelled the company to shut down its dining rooms.
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The inclination toward packaged water rather than ordinary water, particularly among younger consumers, drives product sales. Observing this trend, several restaurants are providing bottled water to meet consumer demand
The purified water segment held the largest share of more than 35.0% in 2020. According to a United Nations study published in 2018, there are almost 16,000 desalination plants across 177 countries that provide purified water
The sparkling water segment is anticipated to be the fastest-growing segment with a CAGR of 11.7% from 2021 to 2028. Sparkling water is also marketed as sparkling drinking water or sparkling mineral water. Water that contains the same amount of carbon dioxide as its source post-treatment is defined as sparkling water
Asia Pacific held the largest market share in 2020 and is expected to maintain its lead throughout the forecast period. The regional market is mainly driven by the growing preference for bottled water owing to rising health issues caused by the consumption of contaminated water in countries, including China and India
Grand View Research has segmented the global bottled water market on the basis of product and region:
Bottled Water Product Outlook (Revenue, USD Million, 2016 - 2028)
Bottled Water Regional Outlook (Revenue, USD Million, 2016 - 2028)
Central & South America
Middle East & Africa
List of Key Players of Bottled Water Market
The Coca-Cola Company
Primo Water Corporation
FIJI Water Company LLC.
Gerolsteiner Brunnen GmbH & Co. KG
Rhodius Mineralquellen Und Getranke GmbH & Co KG
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