Bottled Water Market to earn a US$200.0 bn by the end of 2024

The global bottled water market is envisaged to see high growth opportunities birthing with growing health-consciousness among people and increasing awareness about hygiene. Surge in demand for functional bottled water could provide impetus to the global market. With a view to provide safe drinking water to residents of their country, governments are expected to concentrate on developing public water infrastructure. Launch of new products with innovative flavors and more health benefits could set the tone for significant growth of the global bottled water market. Thus, there could be massive demand in the global bottled water market due to high preference for functional benefits, better taste, and convenience.

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However, presence of BPA and other harmful chemicals in plastic bottles causing behavioral and neurological problems in children is predicted to hamper the growth of the global bottled water market. Stringent approval standards could be another factor delaying the growth of the global bottled water market. Lower cost of tap water and the advent of home water treatment are also expected to challenge the global bottled water market. Nonetheless, rising awareness about diarrhea, food poisoning, malaria, typhoid, and other waterborne diseases is expected to stoke the demand in the global bottled water market. Increasing inclination toward the use of more convenient water sources and adoption of healthy lifestyles could provide the global bottled water market a strong momentum for growth.

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Fact.MR envisions the global bottled water market to earn a US$200.0 bn by the end of 2024. Among a number of products offered in the global bottled water market, spring water could gain a larger share as its sales are expected to cross a US$45.0 bn by the end of the forecast period 2017-2022. On the other hand, distilled water could show quicker progress in the global bottled water market. There are more segments that the global bottled water market is classified into: tap water, artesian well water/artesian water, sparkling bottled water, mineral water, and purified water.

By sales channel, the global bottled water market is segregated into grocery stores, online retailers, convenience stores, supermarket/hypermarket, wholesales/distributors, and other retail formats. On the basis of revenue, wholesales/distributors are foretold to account for a larger share of the global bottled water market. Supermarket/hypermarket could tread upon the heels of wholesales/distributors in terms of revenue growth. By size, the global bottled water market is bifurcated into >5 liters, 3 liters, 1-3 liters, 350-550 ml, 300-350 ml, and <300 ml. Among these segments, <300 ml is projected to show greater amount of sales in the global bottled water market. It could be followed by >5 liters during the course of the forecast period.

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On the basis of type of packaging, the global bottled water market is divided into glass bottles, PET bottles, and other segments. According to the Fact.MR report, PET bottled water could exhibit faster growth in the global market in terms of sales. However, glass bottles are forecast to gain higher consumer preference in the global bottled water market. By the end of 2024, glass bottled water could achieve sales worth a US$100.0 bn.

From a geographical point of view, the global bottled water market is prognosticated to find Europe securing a dominating position in the foreseeable future. In 2017, the region showed colossal growth in the global bottled water market. North America could follow Europe during the course of the aforementioned forecast period. On the other hand, APEJ is prophesied to show faster growth in the global bottled water market until the end of 2024. Important factors that could propel the growth of the APEJ bottled water market are strong economic growth, changing lifestyle of people, rising purchase power of consumers, and widening population base.