Rising health awareness, convenience of use, premium quality and taste, and availability of functional water in different flavors fuel the growth of the market.
PORTLAND, OREGON, UNITED STATES, October 22, 2020 /EINPresswire.com/ — Rising health awareness, convenience of use, premium quality and taste, and availability of functional water in different flavors fuel the growth of the global bottled water market. On the other hand, stringent regulations for the bottled water, harmful effects of using plastic bottles, and availability of tap water at lower cost impede the growth to some extent. Nevertheless, changing life style patterns of consumers is expected to create lucrative opportunities in the industry.
According to the report published by Allied Market Research, the global bottled water market was estimated at $169.86 billion in 2015 and is expected to hit $319.86 billion by 2022, registering a CAGR of 9.5% from 2014 to 2022. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
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• Bottled water that is readily available in supermarkets and retail stores experienced a decline in its demand from consumers, as most of the stores were brought to closure during the first phase of the lockdown.
• Also, disruptions in the supply chain and shortage in raw materials have negatively impacted the market.
• However, with the existing regulations being eased off gradually in most of the countries, the market is expected to get back to its position soon.
The global bottled water market is analyzed across product type and geography. Based on product type, the functional water bottle segment held the highest share in 2015 and is expected to rule the roost by the end of 2022. The same segment is also expected to register the fastest CAGR throughout the forecast period. The other segments analyzed in the research report include carbonated water, flavored water, and still water.
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Based on region, Asia-Pacific would remain lucrative till 2022. The region held the largest share in 2015 and is also expected to portray the fastest CAGR OF 10.6% by 2022. The other provinces studied in the report include North America, Europe, and LAMEA.
The key market players analyzed in the global bottled water market report include Hangzhou Wahaha Group Co., Ltd., Dasani, Mountain Valley Spring Company, Nestlé Waters, Danone, PepsiCo Inc., Natural Waters of Viti Ltd., Icelandic Glacial Inc., and The Coca Cola Company.These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.
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Source: EIN Presswire