This report covers the present scenario and the growth prospects of the Global Bottled Water market for the period 2014-2018.
One of the fastest-selling liquid refreshment drinks in the global market is bottled water, which is regulated by the FDA. Driven by increased health concerns, disposable income, availability of functional water in various flavors and portability of hygienic water in the portable bottled packaging has further been instrumental in the growth of the bottled water industry. The market’s value is expected to touch USD 70 billion by 2017 from USD 157.27 billion in 2013. Currently, Europe and USA account for more than 50% of the market share of the overall market. Moreover, several bottled water companies are also looking forward to entering emerging markets such as Asia and the Middle East mainly for its growth potential.
This report, Global Bottled Water Market 2014-2018, provides an overview and growth prospects of the market in the period from2014-2018. With its focus on the Americas, the EMEA and APAC regions, the report can be segmented into still unflavored, still flavored, sparkling unflavored and sparkling flavored markets.
Drivers of the market
The bottled water market will also see increased participation from the soft drink and dairy industries, which will be encouraged by emerging economies, improved international distribution networks and processing equipment. A healthy alternative to carbonated soft drinks, the bottled water industry trends also indicated that gains will be coming from flavored varieties and convenient packaging formats, especially the single-serve packs that are expected to be the major drivers for the industry’s exponential growth.
Currently, Nestle, PepsiCo, the Coca-Cola Company and DANONE are the key players of the industry. Market experts predict that by 2017,with the increase in the number of consolidations, the bigger players will see increased competition, especially from various new entrants in the market. Since product marketing, promotion, packaging, distribution, price and technology are some of key factors that will be affecting the market share, the bigger players are expected to use these aspects to strengthen their global presence.
Key regions of growth
One market where the sale of bottled water is rapidly increasing is China. Companies are capitalizing on various factors, especially weather changes like the longer summers, increase in health consciousness, and lifestyle changes, whereas sparkling water market will see growth in Europe that accounts for more than 75% of the world sparkling water market. Furthermore, the bottled water industry trends have recorded that the Asia-Pacific region will receive a major boost as more companies will venture into the market and, thereby, tap into the latent demand potential.
On the other hand, USA’s bottled water market recorded a slowdown after years of steady growth mainly because of international health awareness campaigns that has curbed the consumer demand to great extent. The USA was the biggest consumer of bottled water, however, in the past year, several restaurants, natural food stores, schools and municipalities are choosing tap water rather than packaged products for economic, environmental, or social justice reasons.
Challenges faced by the industry
The major challenge faced by the bottled water market lies in product innovation and differentiation, especially when the raw material, water, remains the same. Its packaging is the only place where these companies can show innovation, especially when it constitutes more than 50% of the cost. Furthermore, the companies are also differentiating on its look, price and weight of the product.
Increased consumer health consciousness has seen the demand of mineral water grow at an exponential rate. More recently, there has been a notable shift towards mineral water over carbonated drinks and companies like Coca-Cola are increasingly being mindful of this trend. Furthermore, fuelling the competition in the packaged water market is the continued investment in production expansion and improvement of distribution networks.
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