The bottled water hydration market is expected to grow at a CAGR of 7.3% during the forecast period from 2019 to 2027, starting from US$ 161.04 Bn in 2018.
The demand for bottled water is rising to a great extent throughout the globe. As per the International Bottled Water Association (IBWA), most consumers in the U.S. prefer bottled water over other packaged drinks. The reports also suggest that in the year 2018, the consumption of bottled water in the North American region accounts for around 13.8 billion bottled water hydration market gallons. Moreover, IBWA also suggested that bottled water sales grew by around 7.3% in 2018. The research studies suggest that the bottled water market in China has grown more than 200% over the last decade. Moreover, consumers prefer bottled water due to rising awareness and concerns about tap water contamination. Bottled water has become a major substitute for soft drinks. Consumers are more inclined to use bottled water over soft drinks due to no or less sugar and calorie content. According to research studies, the consumption of bottled water has increased from 16% to 22% in the year 2019. Thereby is one of the key factors that support the growth of the market.
Rising concerns and awareness about plastic packaging and PET plastic bottle trends support the growth of the market. The research studies suggest that bottled water is packed in 59% less PET plastic as compared to other beverages. In addition, bottled water containers are 100% recyclable andally contain less plastic than sodaany other packaged drinks. Thereby, consumers prefer bottled water and are one factor contributing to the market's growth.
The PET bottles segment dominated the bottled water hydration market in 2018 and is expected to continue its dominance during the forecast period. Bottled water consumption in single-serve PET bottles is expected to increase by over 5.1% in 2018. The PET bottles account for more than 50% of the overall bottled water hydration market. Moreover, the trends for bio-based PET and recycled PET are increasing. Top bottled water manufacturers aim to develop new technologies for the same,, thereby increasing the demand for PET bottles globally. For instance, in 2017, Nestle waters, PepsiCo, and Danone joined together to launched the NaturALL Bottle Alliance. The NatureAll bottle alliance aims to develop next-generation bio-sourced PET using 100% sustainable and renewable resources. Besides Nestle Waters, in North America, in February 2018, it introduced Nestle Pure Life, a purified water brand, and announced to pack it in 100% r-PET bottles.
GET A SAMPLE COPY FOR MORE INFORMATION
North America and Europe dominated the bottled water hydration market in 2018 and are expected to continue its dominance during the forecast period. More than 25% of global bottled water production is located in Europe. Consumers in Europe consume about 52 billion liters of bottled water annually. The industry employs about 54,000 people. Thereby, it supports the market growth of the market in the region. Moreover, Europe consumes about 109.9 liters of packed water yearly, followed by North America, which consumes about 102.0 liters of packed water annually. Bottled water has emerged in the U.S number beverage category from the year 2016 in terms of volume. The research studies suggest that the overall volume of bottled water in the U.S. grew from around 12.8 billion to over 13.7 billion gallons from 2016 to 2017. Moreover, the per capita consumption of bottled water increased by around 42 gallons in the year 2017. Additionally, bottled water holds more than 23% of the share in the overall beverage market. Thereby supporting the growth of the market in the region.
The Asia Pacific is expected to grow at a noticeable rate during the forecast period. The rising demand for bottled water in countries such as India and China supports the growth of the market. As per reports by Coke, India emerged as the fourth-largest market for Smartwater coke's premium water brand launched in 2018. The country expects its premium water brand to be an attractive region for the company. Coke aims to launch SmartWater to the regional level in the Indian market. Moreover, the company also suggests that the Smartwater brand by coke became the second-largest premium water brand in India after the Himalayan bottled water brand.
This study report represents analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.Segmentation
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the overall bottled water hydration market. In addition, the global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.