Bottled water is packed and sold in plastic or glass water bottles. It offers advantages like convenience of portability and usage. Bottled water meets strict regulations on purity and quality making it a healthier choice than other beverage options. The product finds wide application among individuals pursuing healthy lifestyles.

The 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:

Rising health awareness among consumers regarding intake of beverages low in sugar and calories is driving the demand for bottled water. Individuals are increasingly preferring bottled water over sugary drinks to manage weight and reduce risks of lifestyle diseases. Moreover, growing promotional activities by manufacturers through social media marketing and influencer campaigns are creating substantial brand awareness, further fueling the market growth. Changing lifestyles and increasing disposable income in developing nations are also supporting the product uptake. However, concerns over plastic waste and environmental pollution from bottled water packaging may hamper the market expansion over the forecast period.

Porter’s Analysis

Threat of new entrants: Global Bottled Water Market Size requires heavy investments in production facilities and bottling plants, distribution channel, and brand recognition which poses high entry barriers for new players.

Bargaining power of buyers: Large retail chains have significant bargaining power over bottled water companies due to their high volume purchase and ability to switch between brands easily.

Bargaining power of suppliers: Major water bottling companies own aquifers or have long term contracts with municipalities which supply raw water, thereby reducing their dependence and bargaining power of suppliers.

Threat of new substitutes: Tap water and reusable water bottles present substitutes but bottled water is considered safer and convenient alternative on-the-go.

Competitive rivalry: Intense competition exists between Nestlé, PepsiCo, Coca-Cola and other players to gain market share through product differentiation, brand promotion and expansion into new markets.