Bottled Water Market Revenue to Cross US$ 322.85 billion by 2028 | Grow CAGR of 5.9% Says, The Insight Partners

Shift in Demand of Consumers from Carbonated Soft Drinks to Bottled Water to Escalate Bottled Water Market Growth During 2022–2028

NEW YORK, UNITED STATES, November 8, 2022 /EINPresswire.com/ -- According to The Insight Partners 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.

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.

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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.

Drinking polluted water leads to a number of health issues, including gastrointestinal issues, reproductive issues, and brain abnormalities. The growing public awareness of the hazards of polluted water is driving up the demand for bottled water worldwide. The easy availability of bottled water at various retail outlets such as groceries, supermarkets, and convenience stores has played an exponential role in the rapid growth of the global bottled water industry.

Clean drinking water offers essential nutrients to the body, enhances digestion, maintains the body's chemistry, and aids in the maintenance of an average body temperature. As tap water quality deteriorates, the demand for bottled water is likely to grow in the future. Furthermore, as the demand for healthier alternatives grows, industry players are concentrating their efforts on supplying customers with more nutritious beverages, such as flavored water and functional water.

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Based on distribution channel, the bottled water market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment is expected to be the fastest-growing segment in the bottled water market. Supermarkets and hypermarkets are huge retail establishments offering an extensive range of products such as groceries, personal care, and household products. These stores provide products from various brands at a reasonable price. Shoppers can easily find the right product at such stores. Moreover, these stores offer attractive discounts, multiple payment options, and a pleasant customer experience. Bottled water manufacturers increasingly prefer selling their products through supermarkets and hypermarkets, owing to heavy customer footfall. Moreover, many leading bottled water manufacturers sell their products through well-known supermarkets such as Walmart, Aldi, and Carrefour, owing to their customer reach and wide distribution network.

The global bottled water market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2021, Asia Pacific dominated the global bottled water market. An increase in health-conscious consumers and a shift in consumer demand from carbonated soft drinks to bottled water are driving the bottled water market across the region. Along with this, the growing acceptance of premium bottled water is having a positive impact on the bottled water market. Tourism and international trade in countries such as India have increased significantly. NRI and foreign consumers prefer premium bottled water or international standards bottle water to avoid falling ill due to any water change. Thus, these factors have led to an increased acceptance of bottled water in Asia Pacific countries. North America was the second-largest region for the bottled water market in 2021.

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Bottled Water Market is expected to reach US$ 322.85 Billion by 2028