Health Conscious Consumers Spurring Demand for Safe and Reliable Bottled Water, Market to Exhibit High Single-Digit Growth Rate.

Albany, NY -- (SBWire) -- 04/15/2016 --The global bottled water market, a dynamically growing vertical of the global food and beverages industry, was valued at US$157.27 bn in 2013. While other beverages are struggling to gain or maintain a considerable share in the market, the market for bottled water is projected to expand at an 8.3% CAGR, in terms of volume, between 2014 and 2020. The market, which valued 267.91.bn liters in 2013, is expected to rise to 465.12 bn liters by 2020. The growing attractiveness of bottled water in the global market reflects a clear trend of consumers increasingly choosing convenient, safe, and hygienic bottled water as a healthy choice for themselves and their families. The reliable and consistent quality of bottled water is also a reason why the market has been on an upward trajectory for the past many years and is projected to expand in a similar manner over the future.

The US Food and Drug Administration (FDA) considers bottled water a packaged food under the Federal Food, Drug and Cosmetic Act. On the global level, however, the International Council of Bottled Water Associations (ICBWA) monitors quality of bottled water and acknowledges local regulatory agencies concerned with bottled water business.

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Carbonated Bottled Water Segment Losing its Sparkle, Still Water Continues to Dominate Consumer Choice

The global bottled water market can be segmented on the basis of product type as still, carbonated, functional, and flavored bottled water. Of these, the segment of still water exhibited a clear dominance in the market by accounting for nearly 65% of the global market (revenue-wise) in 2013. However, the demand for functional and flavored bottled water has been on a constant rise in the past few years as consumers are now increasingly looking for products that align with their well-being and fitness goals. The market for carbonated or sparkling bottled water, which held the second-largest share in the global bottled water market in 2013, is heading along a downward growth trajectory as consumers now prefer to spend more on healthy hydration products.

On the geographical front, the market has a presence across the globe with features processing and export facilities in many countries. Revenue-wise, the Asia-Pacific market dominated the global market and accounted for 33% of the market in 2013. Rising population, increasing disposable incomes, rising concerns regarding wellness and health, and launch of new packaging materials are the factors propelling the market in the region.

Eco-friendly Packaging Material Capable of Buoying Businesses Struggling to find Foothold amid Extreme Competitiveness

The highly fragmented global market for bottled water features the presence of a number of local bottlers and private label companies selling their own brands of water. Owing to this, nearly 60% of the market was held by hundreds of bottled water companies of varying sizes in 2013. Thus, competition is extremely high and companies are faced with a constant need to reinvent business and marketing strategies. However, there are two opportunities that present significant growth avenues for companies in the bottled water business: development of eco-friendly and sustainable packaging material that will appeal to environmental-conscious consumers and equipment that will cater to the bottling operations of small-scale businesses.