Flavored Bottled Water Market To Reap Excessive Revenues By 2027
Market Scope
Market Research Future (MRFR) expects the Flavored Bottled Water Market to capture a moderate growth rate of 5.85% from 2020 to 2027. By 2027, it is presumed that the market size shall touch a whopping USD 120.3 billion.
Growth Boosters and Challenges
Ease of use, low maintenance cost and portability are identified as the key reasons for the significant demand being witnessed by bottled water across the globe. Additionally, surging consumer interest in healthy lifestyle and the mounting awareness about the benefits associated with bottled water should also translate into considerable growth for the global market.
Shifting preference from ordinary water to bottled water can be seen more among the younger consumers, with urbanization deemed to be a possible driver. In view of this emerging trend, restaurants are increasingly offering bottled water to cater to the consumer demand. Hence, the rapidly soaring number of restaurants worldwide should back the market growth in the upcoming years.
Segmental Review
The Flavored Bottled Water Market covers type, category as well as distribution channel.
The key types of bottled water available in the worldwide market are mineral water, sparkling/carbonated water, and purified water. Purified water experiences robust demand in the market, in view of exploding global population with surging water requirements, urbanization, high per capita consumption, economic development, decline in water supplies on account of climate change. Moreover, contamination has aggravated the issue of water scarcity in various parts of the world, which has raised the demand for ultra-purified water.
The categories discussed in the MRFR report include plain as well as flavored. Flavored water has very few calories and is mostly preferred by consumers due to their enhanced taste, and the associated health benefits. As a result, the flavored Flavored Bottled Water Market is being subjected to large-scale investments, which should further elevate the segment’s position in the global market.
With respect to distribution channels, the market caters to store-based and non-store-based. The store-based channels are convenience stores, supermarkets & hypermarkets, and more. Experts note that the sales are substantially high via hypermarkets and supermarkets since these outlets are generally located in busy areas and provide consumers with a convenient shopping experience.
Regional Insight
The bottled water industry has been regionally considered for North America, Asia Pacific, Europe, along with the rest of the world or RoW.
The Flavored Bottled Water Market is the most profitable in Europe, with the region having captured a huge share of 38.32% in the year 2018. Expansive pool of health-conscious people along with the rising preference for bottled drinks have been favorable for the European market. Major trade associations such as the European Federation of Bottled Water are focused on spreading awareness among the mass about the health benefits associated with spring water, natural mineral water, and other bottled water types, which helps foster the sales. Germany will be one of the highest gainers in the region during the appraisal period, with sparkling water and functional water expected to witness maximum sales over the ensuing period.
Asia Pacific is on track to race ahead at the fastest rate in the global Flavored Bottled Water Market, thanks to the exploding urban population as well as the alarming rise in diseases as a result of intake of contaminated water. These escalating cases have prompted consumers to opt for products that are safe and healthy. Moreover, the surge in the organized retail sector, evolving water intake habits, coupled with the introduction of new and more innovative items like flavored water by leading brands in the region should also assist in market expansion over the following years.
Top Companies
The Coca-Cola Company (US), Danone S.A. (France), Cott Corporation (US), PepsiCo, Inc. (US), Gerolsteiner Brunnen GmbH & Co. KG (Germany), Nestlé S.A. (Switzerland), Nongfu Spring (China), Bisleri International Pvt. Ltd (India), Tata Global Beverages (India), RHODIUS Mineralquellen und Getränke GmbH & Co. KG (Germany), are the major brands active in the Flavored Bottled Water Market.
In the face of fierce competition in the global industry, manufacturers are adopting marketing strategies to widen their consumer base. Advertising campaigns, new launches and product innovation are some of the top strategies employed by the major brands to elevate their market rankings. Many of the bottled water manufacturers also focus on using different packaging solutions with multiple benefits and attractive looks that help capture the attention of a higher number of consumers.
To illustrate, in May 2021, The Alkaline Water Company Inc., a prominent alkaline water firm launched its completely recyclable white aluminum water bottle. The cool aluminum not only elevates the aesthetics appeal and sustainability bottle, but also enhances the taste of the Alkaline88 water. Alkaline88 is ionized water that has completely pure ingredients, including Pink Himalayan Rock Salt and with the launch of the new packaging, the popularity of the product is only expected to mount among consumers.
Access Report Details @ https://www.marketresearchfuture.com/reports/bottled-water-market-2252
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