Theglobal bottled watermarket depictsa competitive 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.
Risingnumber of small local players is a major trend in the global bottled watermarket. Due to the relatively low costs of entry, and limited distribution inmany regions, small players continue to register strong gains. Additionally,the lack of established clean standards also drive consumers in emerging marketstowards new products. Moreover, low costs of manufacturing in emerging regionssuch as Asia Pacific are further expected to drive growth for non-establishedplayers. The global bottled water market is likely to witness many mergers andacquisitions in the near future.
Theglobal bottled water market was evaluated at US$198.5 bn in 2017. The market isprojected to grow at a remarkable 6.44% CAGR during 2017-2024. It is likely tosurpass US$300 bn by 2024. The total volume could reach nearly 530 bn litres by2024 end. Among various product segments, the still water continues to lead theothers by a colossal margin.
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Dueto rising disposable incomes and large population, Asia Pacific is expected towitness a robust growth. The bottled water market in the region will registerthe fastest growth in the global market. Similarly, growing varieties offlavored products in North America is expected to create newopportunities.
Lackof Sanitation and Recycled Packaging to Drive Growth
Accordingto World Health Organization, (WHO) in 2011, 2.5 billion people lacked accessto healthy sanitation facilities. Among these, approximately 800 million usedshared or public sanitation facilities. To make matters extremely difficult inemerging regions, over 1 billion people practice open defecation, making itabsolutely difficult to trust unprocessed water. Additionally, practices likerecycled packaging are driving higher margins in the bottled water market.Recently, lack of sufficient quantities of bottle and string regulationssurrounding plastics were emerging as concerns. However, growing awareness andvarious cost-effective recycling options are driving tremendous growth for thebottled water market.
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StillWater and PET bottles to Dominate the Bottled Water Market
Thebottled water market is home to many products including carbonated water, stillwater, flavored water, and functional water. Among these, the still watercontinues to represent a major opportunity in the bottled water market. Itssimplicity and trust associated with it, are major attractions for consumers inthe bottled water market. The segment accounted for 273.3 bn. Liters of volumeand US$156.0 bn in 2017.
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Onthe other hand, packaging segments in the bottled water market include glassbottles, PET, and others. Among these, the PET bottles are in high-demand dueto convenience of transportation, storage, and low probability of breakage. Thesegment 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.
Lackof quality products and several cases of fraudulent practices in relation tomaintaining quality of water, can restrain growth in the bottled water market.
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