The
global bottled water market depicts a competitive and
fragmented landscape. Growing number of small players are increasing
competition for low-end products, reports Transparency Market Research (TMR).
Major players in the market are expected to compete through wider distribution
reach and quality. Some key players in the global bottled water market are
PepsiCo Inc, Nestle Waters, The Coca Cola Company, Groupe Danone, and Mountain
Valley Spring Company
LLC.
Rising
number of small local players is a major trend in the global bottled water
market. Due to the relatively low costs of entry, and limited distribution in
many regions, small players continue to register strong gains. Additionally,
the lack of established clean standards also drive consumers in emerging markets
towards new products. Moreover, low costs of manufacturing in emerging regions
such as Asia Pacific are further expected to drive growth for non-established
players. The global bottled water market is likely to witness many mergers and
acquisitions in the near future.
The
global bottled water market was evaluated at US$198.5 bn in 2017. The market is
projected to grow at a remarkable 6.44% CAGR during 2017-2024. It is likely to
surpass US$300 bn by 2024. The total volume could reach nearly 530 bn litres by
2024 end. Among various product segments, the still water continues to lead the
others by a colossal margin.
Due
to rising disposable incomes and large population, Asia Pacific is expected to
witness a robust growth. The bottled water market in the region will register
the fastest growth in the global market. Similarly, growing varieties of
flavored products in North America is expected to create new
opportunities.
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Lack of Sanitation and Recycled Packaging to Drive
Growth
According
to World Health Organization, (WHO) in 2011, 2.5 billion people lacked access
to healthy sanitation facilities. Among these, approximately 800 million used
shared or public sanitation facilities. To make matters extremely difficult in
emerging regions, over 1 billion people practice open defecation, making it
absolutely difficult to trust unprocessed water. Additionally, practices like
recycled packaging are driving higher margins in the bottled water market.
Recently, lack of sufficient quantities of bottle and string regulations
surrounding plastics were emerging as concerns. However, growing awareness and
various cost-effective recycling options are driving tremendous growth for the
bottled water market.
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Still Water and PET bottles to Dominate the Bottled
Water Market
The
bottled water market is home to many products including carbonated water, still
water, flavored water, and functional water. Among these, the still water
continues to represent a major opportunity in the bottled water market. Its
simplicity and trust associated with it, are major attractions for consumers in
the bottled water market. The segment accounted for 273.3 bn. Liters of volume
and US$156.0 bn in 2017.
On
the other hand, packaging segments in the bottled water market include glass
bottles, PET, and others. Among these, the PET bottles are in high-demand due
to convenience of transportation, storage, and low probability of breakage. The
segment is expected to generate over US$200 bn by 2024 end. PET bottles are
expected to serve up nearly 410 bn litres of water by the end of forecast
period. Growing margins through recycled packaging are expected to drive
robust growth for the PET bottle segment.
Lack
of quality products and several cases of fraudulent practices in relation to
maintaining quality of water, can restrain growth in the bottled water market.
The
information presented in this review is based on a Transparency Market Research
report, titled, “Bottled Water Market (Product Type - Still Bottle Water,
Carbonated Bottle Water, Flavored Bottle Water, and Functional Bottle Water;
Packaging - PET Bottles and Glass Bottles; Distribution Channel -
Super/Hypermarket, Convenience/Drug Stores, Grocery Stores/Club Stores, and
Foodservice/Vending) - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2017 – 2024.”
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