Spring Water Market to Reach US$ 497.37 Bn by 2032; Awareness of Health Benefits of Bottled Water Spurring Demand, Finds TMR Study

• Ease of access especially through retailing in hypermarkets/supermarkets and advancements in bottled water packaging catalyze sales of products in spring water market; shift from carbonated drinks to healthy non-carbonated beverages expanding lucrative opportunities
• Rise in demand for spring water in convenience stores and rising online retailing underpin enormous avenues in Europe and North America

ALBANY, N.Y., June 27, 2022 /PRNewswire/ -- Growing launch of bottled water that are labelled alkaline, electrolyte-rich, or fortified with added oxygen have led to uptick in demand for products in the spring water market. In-depth insights on the spring water market by a study by TMR underscore the numerous health benefits of products reinforcing vast profitable avenues. The spring water market is forecast to advance at CAGR of 8.3% from 2022 to 2032.

Product sales of spring water market have proliferated in many developed and developing economies, pivoting on the back of strengthening distribution channels. Of note, retailers and manufacturers have garnered increasing revenue gains from the sales of products through hypermarkets and supermarkets. Furthermore, brands in the spring water market are geared toward capturing revenues by industry spending on grocery retail chains across the globe. The market value of spring water in bottled water industry will continue to grow.

The market share for spring water in bottled water industry is rising on the back of robust packaging that improves the shelf-life. Additionally, there is a shift toward portable bottled water to meet the consumer needs of hydration in various countries. Companies in the spring water market are keen on promoting the health and nutritional benefits of bottled water over carbonated beverages. The inclination toward glass bottles will expand the avenues for expansion of the spring water market.

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Key Findings of Spring Water Market Study

• Bottled Water Manufacturers Emphasize Health Benefits of Spring Water to Propel Demand: Growing awareness of the beneficial effects of mineral water consumption in treatment of various diseases of the gastrointestinal tract has engendered the prospects of the spring water market. Health-conscious populations worldwide are increasingly inclined toward consumption of healthy beverages. This has spurred the shift away from sugary and calorie-laden beverages. On the other hand, the health benefits of natural spring water have attracted them to consume the products for fulfilling their daily hydration needs, which is steering the demand for products in the spring water market.
• Wider Distribution and Supply Leads to Uptick in Sales of Products in Spring Water Market: Food & beverages manufacturers are keenly expanding the offline retail and online chains to boost their distribution of products internationally. The ease of availability is a key underpinning for fillip in sales of products in the spring water market in recent years.
• Advancements in Packaging Attract Consumers: Brands in the spring water are geared toward attracting customers with innovative packaging. Bottled water manufacturers for instance are embracing more of recyclable materials in the primary packaging. Furthermore, the availability of products in various formats is key to boosting the demand.

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Spring Water Market: Key Drivers

• Worldwide, bottled water has gathered substantial acceptance among populations in meeting the hydration needs. Together with this trend, there is a perceptible shift in the spring market away from calorie-laden beverages toward healthy mineral water products.
• Product manufacturers are leaning toward varying mineral content and total dissolved solids (TDS) levels and are adopting packaging in variety of formats. These strategies will shape the future development of the spring water market.

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Spring Water Market: Regional Growth Dynamics

• Europe held a major share of the global spring water market in 2021. The prominence is mainly attributed to abundant demand for products in Germany and France. Growing awareness about the benefits of spring water has steered lucrative avenues for manufacturers and retailers in the regional market.
• North America has emerged as another lucrative region in the global spring water, found the authors of the in-depth TMR study. Proliferating sales of products through convenience stores and online retail have spurred the revenue growth.

Spring Water Market: Key Players

The TMR study on the spring water market found that relatively few numbers of large-sized bottled water companies control considerable shares. Prominent players include Tata Consumer Products Limited (Himalayan), Premium Waters, Inc., 3 Springs Water Company LLC, Danone (Evian), Coca-Cola (Valpre), Ten Spring Water, Berrington Water, PepsiCo, Nestle S.A., Orient Beverages Pvt. Ltd., CG Roxane, LLC, and Orient Beverages Pvt. Ltd.

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Spring Water Market Segmentation

• Container Type
• Bottled
• Canned
• Distribution Channel
• Business to Business
• Business to Consumer
• Hypermarkets/Supermarkets
• Specialty Stores
• Online Retail

Regions Covered

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa

Countries

• U.S.
• Canada
• Brazil
• Mexico
• Argentina
• Chile
• Germany
• Italy
• U.K.
• France
• Spain
• Russia
• Poland
• India
• Indonesia
• Thailand
• Malaysia
• China
• Japan
• South Korea
• Australia
• New Zealand
• South Africa

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