The global packaged water market is anticipated to reach USD 470.0 billion by 2025, according to a new report by Grand View Research, Inc. increasing health awareness, and rising disposable income are the key factors that are driving the market growth.
The increasing health awareness is driving people to add nutrition in their diet. Factors such as poor quality of tap water, risk of water borne diseases, and ease of availability of packaged water has increased the demand for packaged water. Companies have positioned and advertised packaged water as pure and healthy option; therefore, fueling market growth. In addition, the launch of new products such as flavored water and functional water has increased the urge of customers to prefer such drinks than carbonated drinks. Flavored water and functional water contain certain amount of nutrients that help people intake more fluids. Consumption of bottled water has increased over the last decade as US sales of carbonated soft drinks, particularly colas, have steadily declined. The decline is mainly driven by consumer concerns about soda sugar content and increased awareness of obesity and diabetes rates, as well as perceived health risks associated with some artificial sweeteners.
Presence of untapped opportunities in emerging countries such as Brazil and Mexico are expected to propel the growth of packaged water market during the forecast period. Rise in consumer awareness and adoption of healthy practices in the region are key contributors to the market growth in these regions.
Still water held the largest position with a share of about 60.0% in 2016 and is anticipated to maintain its position over the forecast period. Flavored water are expected to gain momentum over the forecast period owing to the increasing health awareness and the need for healthy diet intake.
Asia Pacific dominated the global packaged water market in 2016. Rise in consumer awareness and adoption of healthy practices in the region are key contributors to the market growth in this regions.
The major players of the market include, Nestle Waters, Coca-Cola Company, PepsiCo Inc., Suntory Holdings, and Danone. Various strategies are adopted by these players to maintain their market share.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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