The global bottled water market depicts acompetitive and fragmented landscape. Growing number of small players areincreasing competition for low-end products, reports Transparency MarketResearch (TMR). Major players in the market are expected to compete throughwider distribution reach and quality. Some key players in the global bottledwater market are PepsiCo Inc, Nestle Waters, The Coca Cola Company, GroupeDanone, and Mountain Valley Spring CompanyLLC.
Rising number of small local players is a major trend in the globalbottled water market. Due to the relatively low costs of entry, and limiteddistribution in many regions, small players continue to register strong gains.Additionally, the lack of established clean standards also drive consumers inemerging markets towards new products. Moreover, low costs of manufacturing inemerging regions such as Asia Pacific are further expected to drive growth fornon-established players. The global bottled water market is likely to witnessmany mergers and acquisitions in the near future.
The global bottled water market was evaluated at US$198.5 bn in 2017.The market is projected to grow at a remarkable 6.44% CAGR during 2017-2024. Itis likely to surpass US$300 bn by 2024. The total volume could reach nearly 530bn litres by 2024 end. Among various product segments, the still watercontinues to lead the others by a colossal margin.
Due to rising disposable incomes and large population, Asia Pacific isexpected to witness a robust growth. The bottled water market in the regionwill register the fastest growth in the global market. Similarly, growingvarieties of flavored products in North America is expected to create newopportunities.
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Lack of Sanitation and Recycled Packaging to DriveGrowth
According to World Health Organization, (WHO) in 2011, 2.5 billionpeople lacked access to healthy sanitation facilities. Among these,approximately 800 million used shared or public sanitation facilities. To makematters extremely difficult in emerging regions, over 1 billion people practiceopen defecation, making it absolutely difficult to trust unprocessed water.Additionally, practices like recycled packaging are driving higher margins inthe bottled water market. Recently, lack of sufficient quantities of bottle andstring regulations surrounding plastics were emerging as concerns. However,growing awareness and various cost-effective recycling options are drivingtremendous growth for the bottled water market.
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Still Water and PET bottles to Dominate the BottledWater Market
The bottled water market is home to many products including carbonatedwater, still water, flavored water, and functional water. Among these, thestill water continues to represent a major opportunity in the bottled watermarket. Its simplicity and trust associated with it, are major attractions forconsumers in the bottled water market. The segment accounted for 273.3 bn.Liters of volume and US$156.0 bn in 2017.
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On the other hand, packaging segments in the bottled water market includeglass bottles, PET, and others. Among these, the PET bottles are in high-demanddue to convenience of transportation, storage, and low probability of breakage.The segment is expected to generate over US$200 bn by 2024 end. PET bottles areexpected to serve up nearly 410 bn litres of water by the end of forecastperiod. Growing margins through recycled packaging are expected to driverobust growth for the PET bottle segment.
Lack of quality products and several cases of fraudulent practices inrelation to maintaining quality of water, can restrain growth in the bottledwater market.
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