Global Bottled Water Market Set for Rapid Growth, To Reach Around USD 280.0 Billion by 2020
Deerfield Beach, FL -- (SBWIRE) -- 06/09/2017 -- Zion Market Research has published a new report titled "Bottled Water (Still, Carbonated, Flavored, and Functional Bottled Water) Market: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 - 2020". According to the report, the global bottled water market was valued at approximately USD 170.0 billion in 2014 and is expected to reach approximately USD 280.0 billion by 2020, growing at a CAGR of around 8.5% between 2015 and 2020. In terms of volume, global bottled water market stood at around 290.0 billion liters in 2014.
Water is an incredibly important aspect of daily lives. Bottled water is a necessary and reliable way to deliver safe drinking water. There are various types of bottled water such as spring water, purified water, mineral water, ground water and others. Bottled water is packaged in plastic or glass bottles. Bottled water can be carbonated or not. Bottled water offers good taste, quality, and convenience
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The global bottled water market is mainly driven by increased health awareness and changing consumer lifestyle. The bottled water market is expected to witness rapid growth fueled by strong demand for clean, flavored and hygienic drinking water. Other important factors driving the bottled water market are the advancement in user-friendly packaging. Strong growth of tourism industry and portability of hygienic bottled water is also expected to trigger demand for bottled water. However, stringent regulations regarding packaging of water and bottled water standards are expected to hamper the growth of the market to some extent. Moreover, easy availability of tap water and rising concerns with regarding increasing plastic waste is expected to present a challenge for industry participants.
Still, carbonated, flavored and functional bottled water are the key product segments of the bottled water market. The still bottled water product segment held the largest share in the global bottled water market and accounted over 60% share in overall consumption in 2014. However, still bottled water segment is expected to exhibit moderate growth during the forecast period. Carbonated was the second largest segment of the bottled water market in 2014. Carbonated bottled water is expected to witness the slight decline in its market share in the years to come. Flavored and functional water segment are also expected to witness rapid growth during the forecast period. The rapid growth of bottled water market can be attributed to rising concern regarding health & wellness.
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Asia Pacific was the leading regional market for bottled water, with over 30% share of total consumption in 2014. Huge population, strong economical growth, increasing disposable income, coupled with changing lifestyle has resulted in a strong growth of bottled water market in Asia-Pacific region. Asia-Pacific is expected to remain the major regional market for bottled water during the next five years. North America and Europe are expected grow at a moderate pace forecast period. However, North America and Europe are expected to experience decline its market share during the forecast period. Latin America and the Middle East are also expected to witness a robust growth of bottled water market in the years to come.
Some of the key players in the global bottled water market include Coca-Cola Company, PepsiCo, Inc., Nestle Waters, Ajegroup SA, Groupe Danone, CG Roxane, LLC, Fonti Di Vinadio S.P.A., LLC, Icelandic Water Holdings ehf., Suntory Beverage & Food Ltd, HassiaWaters International GmbH & Co. KG, Grupo Vichy Catalan, and Hangzhou Wahaha Group Co., Ltd.
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