Hydrogen-infused water is fastest growing segment fueling the growth of bottled water market

 

Bottled water is packaged drinking water available in plastic or glass bottles. Bottled water offers advantages such as convenience and portability and is preferred by consumers for its taste, quality and belief that it is healthier than tap water. With growing health consciousness, changing lifestyle and increased disposable income, bottled water demand is rising globally.

The global Bottled Water Market is estimated to be valued at US$ 321.88 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Hydrogen-infused water is gaining popularity as a new trend in the bottled water market. It is claimed to have health benefits such as better hydration, enhanced vitality and improved skin quality. Bottled water companies are launching hydrogen-infused water varieties to capitalize on the demand from health-conscious consumers. The rising environmental concerns regarding plastic waste are also prompting companies to offer bottled water in recyclable packaging like aluminum cans. This helps improve sustainability image and attracts eco-friendly consumers.

Segment Analysis

The Global Bottled Water Market Size is segmented on the basis of product type into still water, sparkling water, and flavored bottled water. Among these, the still water segment dominated the global market in 2019 and is estimated to continue its dominance in the coming years. Still water is preferred by consumers, as it offers purity and basic hydration, with no added minerals or calories. The still water segment accounts for more than 50% share of the global bottled water market.

Key Takeaways

The global bottled water market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing health consciousness among consumers and growing preference for purified drinking water.

The North American region dominated the global bottled water market in 2019, owing to rising health awareness and busy lifestyle of people. The region is expected to continue its dominance during the forecast period, with the US being the major contributor.

The Asia Pacific region is projected to be the fastest growing market for bottled water during the forecast period due to growing population, improving economic conditions, and rising disposable incomes in countries such as China and India.

Key players operating in the bottled water market are Nestlé, PepsiCo, The Coca-Cola Company, DANONE, Primo Water Corporation, FIJI Water Company LLC, Gerolsteiner Brunnen GmbH & Co. KG, VOSS WATER, Nongfu Spring, National Beverage Corp., Keurig Dr Pepper Inc. These players are focusing on facility expansion and new product launches to strengthen their presence and expand their product portfolio in the global bottled water market.