The U.S. Bottled Water Market is estimated to be valued at US$ 26,067.32 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Bottled water contains naturally occurring minerals and is packaged in plastic bottles or glass bottles for direct consumption. It is widely used by consumers as an alternative to soft drinks and as a substitute for tap water over concerns regarding the purity and quality of municipal drinking water. Bottled water finds application as a health and wellness beverage among health-conscious consumers.

Market key trends:
The U.S. bottled water market size is expected to witness significant growth, driven by the rise in health consciousness among consumers. Bottled water has gained popularity as it does not contain added sugars and other flavorings present in carbonated drinks and is considered healthier. There is also an increasing perception that bottled water is safer to drink than tap water due to various contamination issues faced by municipal water supplies. This has compelled many households to switch to bottled water for daily consumption purposes. Furthermore, innovative product offerings such as flavored bottled water and functional bottled water containing vitamins and minerals are expanding the appeal of bottled water among youth. The availability of bottled water in disposable plastic bottles makes it a popular consumption option on-the-go.

Porter's Analysis

Threat of new entrants: The threat of new entrants in moderate as there are high investments required to establish production facilities and distribution networks. However, there are low switching costs for customers.

Bargaining power of buyers: The bargaining power of buyers is high as bottled water is available from multiple brands and suppliers. Buyers can easily switch between brands based on price and promotions.

Bargaining power of suppliers: The bargaining power of suppliers is low as there are many suppliers of raw materials like spring water and packaging materials.

Threat of new substitutes: The threat of new substitutes is moderate as tap water can be substituted for bottled water. However, bottled water is perceived to be more portable and convenient.

Competitive rivalry: High as the major players compete on the basis of price, brand, product differentiation and promotions.

SWOT Analysis

Strengths: Strong brands, widespread distribution networks, large marketing budgets, product differentiation through flavors and sizes.

Weaknesses: High packaging costs, dependency on raw material prices, negative public sentiments against plastic bottles.

Opportunities: Growing health awareness, increasing outdoor activities, product expansion in flavored waters and functional beverages.

Threats: Stringent regulations on packaging materials, tax increases on sugary/carbonated drinks, shift to reusable bottles.

Key Takeaways

The global U.S. Bottled Water Market is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing health consciousness and preference for convenient packaging among consumers. High disposable income levels have also fueled market growth.

The Western region dominates the U.S. bottled water market currently. High outdoors activities and active lifestyles have driven bottled water consumption in states like California, Washington and Colorado. The Southern region is also growing rapidly due to hot weather conditions.

Key players operating in the U.S. bottled water market are Nestle Waters, PepsiCo, Inc., The Coca-Cola Company, Groupe Danone, Suntory Beverage & Food Ltd, Mountain Valley Spring Company, LLC, and CG Roxane, LLC. Major players are focusing on product innovation, branding and distribution expansion to boost market share.

Get more insights on this topic: https://www.newswirestats.com/u-s-bottled-water-market-size-and-opportunity-analysis-2023-2030/