The Global Bottled Water Market is growing as people become more aware of the negative consequences of drinking contaminated water. The global bottled water market is being propelled forward by the increasing penetration of the food service industry, the expanding penetration of organized retail, and the need for a healthy and active lifestyle. The global rise of the bottled water industry can be attributed to a growing urban population, rising personal discretionary income, higher living standards, and the development of eco-friendly bottle materials. The market for biodegradable bottled water is likely to rise as government measures to promote the use of eco-friendly and sustainable packaging gain traction. Even during the COVID-19 pandemic, producers have taken a number of steps to support market growth. Consider the following: PepsiCo, a worldwide food and beverage business, will distribute 35,000 bottled water and canned soft drinks to UAE workers in September 2020, in collaboration with a social assistance volunteering organization.
Region Analysis:
In terms of region, In 2020, Asia Pacific had the greatest share, and this is likely to continue throughout the forecast period. The regional market is primarily driven by an increase in demand for bottled water as a result of increased health concerns associated with polluted water usage. Changes in water consumption habits, the rise of organised retail sectors, and the introduction of novel goods such as flavoured water are all likely to contribute to regional market growth. Between 2021 and 2028, Asia Pacific is expected to be the fastest-growing regional market. Desalination is being considered by a number of nations as a feasible alternative for producing fresh water. For example, in 2017, India and Israel inked an MoU to develop India's desalination technology.
Key Development:
· In December 2019, As bottled water’s sales growth flattens, the world’s largest bottled-water maker is betting on new products to try to make water exciting again.New products from Nestle slated for 2020 launches include an energy water drink and mineral-infused bottled waters..
· In April 2021, GEN Z Water, Fayetteville, Ark., is shaking up the system by being named after a generation that is entrepreneurial, welcomes change, seeks connections, and wants to be heard. The bright colours and unusual animal-inspired characters in fantastical settings set the bottled water apart from the sea of blue bottles, according to the manufacturer.
Segmentation:
The Global Bottled Water Market is accounted for US$ 217.33 billion in 2020 and is estimated to be US$ 627.83 billion by 2030 and is anticipated to register a CAGR of 11.3%. The global Bottled Water market is segmented based on product type, and region.
· Based on Product Type, the Global Bottled Water Market is segmented into Still Water, Carbonated Water, Functional Water, and Flavored Water.
To Know More@ https://www.prophecymarketinsights.com/market_insight/Global-Bottled-Water-Market-By-866
Competitive Analysis:
The key players operating the global Bottled Water market includes Nestle Waters S.A., The Hangzhou Wahaha Group Co., Ltd., The Coca-Cola Company, Danone SA., PepsiCo Inc., Natural Waters of Viti Ltd., Icelandic Water Holdings ehf, Mountain Valley Spring Company, LLC, S. Dasani & Co., Niagara Bottling, LLC..
