Bottled water to flourish at a 5.5% CAGR from 2022 to 2032
A recently published research by Fact.MR estimates the global market for bottled water to register an average CAGR of 5.5 % during the forecast period 2022-2032. Revenues from the global bottled water market are anticipated to exceed USD 2,00,000-mn in revenues by 2022-end.
28 May 2024 | By Aditya Ghosalkar
Glass is projected to remain the preferred packaging type of bottled water in the global market
Growth of the global bottled water market is being driven by the rise in healthcare awareness among people around the world about waterborne disorders such as diarrhoea, food poisoning, malaria, and typhoid. Continuously changing patterns of people’s lifestyle, has led to inclination of their preferences towards convenient sources of water and food, in order to save time.
Adoption of functional bottled water is increasing. Leading market players are concentrating on introducing new products, equipped with health benefits as well as new flavours, thereby resulting in myriad product launches in the global market.
Demand for functional and flavoured bottled water has surged, owing to shifts in consumer choices from aerated drinks towards bottled water. These factors might impact growth of the market over the forecast period.
However, strict regulations have been imposed for approval of bottled water. Utilisation of plastic for packaging of water has resulted in neurological diseases, coupled with behavioural problems in children. These factors are expected to restrain demand for bottled water in the years to come.
Glass is projected to remain the preferred packaging type of bottled water in the global market.
Prominent players in the bottled water industry are taking advantage of the increasing demand for bottled water in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale vendors.