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Growing consciousness about the advantages of bottled water, convenient consumption mode, and the increasing need for clean and potable water are the key elements driving the market progress.
Market Size -’218.24 billion in 2020, Market Growth – CAGR of 11.4%, Market Trends – A surging inclination towards bottled water and the growth of eco-friendly packing
The global Bottled Water Market is expected to be valued at USD 506.55 billion by 2028 from USD 218.24 Billion in 2020, registering a CAGR of 11.4% through the forecast period. The exponential expansion of the market can be accredited to the augmenting consciousness about the advantages of bottled water for health, availability of different flavors, and convenience of use. Bottled water can either be carbonated or not and is available in plastic and glass packaging. The increasing apprehension about the nutritional benefits conferred by bottled water has propelled its use among the younger generation, in turn, driving the market growth.
The escalating inclination towards the bottled water has also led to numerous restaurants offering packaged water to cater to the growing consumer demand. Furthermore, the stringent regulatory policies laid down by the FDA for bottled water have increased the confidence of consumers on such products. The advent of the COVID-19 pandemic also acted as a market growth factor as the demand for bottled water saw a massive surge in the initial phase of the pandemic with widespread lockdowns, increasing consciousness about health, and stockpiling attitude among the consumers.
The surging increase of the health and wellness trend among the consumers has also added to the market expansion. However, the environmental and health risks associated with the use of bottled water may potentially impede market growth. The inefficient recycling of plastic bottles and the increasing amount of energy used during processing and shipping are key market restraining factors. Moreover, high operational costs of the manufacturing units are also projected to impede the market expansion during the projected timeframe.
Key companies operating in the market include The Coca-Cola Company, Nestlé, Primo Water Corporation, PepsiCo, GerolsteinerBrunnen GmbH & Co. KG VOSS WATER, Bisleri International Pvt. Ltd., FIJI Water Company LLC, Nogfu Spring, Danone S.A., and RhodiusMineralquellen Und Getranke GmbH & Co KG.
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The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Bottled Water Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Bottled Water Market.
Key Highlights from the Report:
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For the purpose of this report, Reports and Data has segmented the global Bottled Water Market on the basis of product type, category, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
Category Outlook (Revenue, USD Billion; 2018-2028)
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
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Key Advantages of Bottled Water Market Report:
Conclusively, all aspects of the Bottled Water Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
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The post Bottled Water Market Size Hit USD 506.55 Billion at a CAGR of 11.4% in 2028 appeared first on Market O Graphics.
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