Bottled Water Market Key Players, Competitive Landscape, Growth, Statistics, Revenue and Industry Analysis
Shift in Demand of Consumers from Carbonated Soft Drinks to Bottled Water to Escalate Bottled Water Market Growth During 2022–2028
According to our latest market study on "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),” the 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. The report highlights key factors driving the bottled water market and prominent players and their progress in the market.
Bottled water is drinking water packaged inside a plastic or glass bottle. It is one of the most convenient ways for the body to fulfill its hydration needs and is easily available in retail stores.
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There has been a rising shift in consumer preference from carbonated soft drinks to bottled water. Consumers in North America are gradually shifting from soda to bottled water. The shift in the consumer’s preference is driven due to an increased health-consciousness among consumers. Consumers are shifting from unnatural and high-sugar drinks to healthier alternatives, driving the bottled water market globally. For instance, in 2017, the bottled water consumption in the US reached 39.3 gallons per capita, while the carbonated soft drinks consumption fell to 38.5 gallons per capita. The increasing concerns over the health impacts of high-sugar beverages and the general trend toward diets have led to an increased demand for natural drinks, thereby fueling the growth of the bottled water market. Moreover, major bottled water brands such as Coca-Cola and Pepsi are introducing new flavors to their bottled water product portfolio to meet consumers' demand for flavored bottled water.
Danone; FIJI Water Company LLC; GEROLSTEINER BRUNNEN GMBH & CO. KG; The Coca-Cola Company; Nestlé S.A; Nongfu Spring; BlueTriton Brands, Inc.; PepsiCo, Inc; Voss of Norway AS; and RHODIUS Mineralquellen und Getränke GmbH & Co. KG are the well-established players constituting the majority of the bottled water market share.
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