A recently published research by Fact.MR estimates the global market for bottled water to register an average CAGR during the forecast period (2017-2022). Revenues from the global bottles water market are anticipated to exceed US$ 200,000 Mn in revenues by 2022-end.
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 diarrhea, 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. Governments across the globe are shifting their concentration towards public water infrastructure development, with an aim to supply safe drinking water to consumers. Adoption of functional bottled water is increasing, owing to the spread of awareness about hygiene, and health consciousness among population worldwide.
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Leading market players are concentrating on introducing new products, equipped with health benefits as well as new flavors, thereby resulting into myriad product launches in the global market. Increasing preferences of consumers in adopting these new products is highly attributed to better taste, functional benefits, and convenience provided by these products. In addition, demand for functional and flavored 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. Prices of tap water are relatively lower than bottled water. In addition, the advent of home water treatment technologies, such as reverse osmosis, has been gaining popularity among population in developed as well as developing countries. Utilisation of plastic for packaging of water has resulted into neurological diseases, coupled with behavioral problems in children. This is mainly because of presence of hazardous chemicals, such as bisphenol A (BPA), in plastic material. These factors are expected to restrain demand for bottled water in the years to come.
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10 Key Estimations on Future of Global Bottled Water Market
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