Published on : Apr 13, 2016
The demand for bottled water has been on the rise due to the shifting preference of consumers towards healthy hydration options. As more and more consumers are opting for natural water as opposed to carbonated and sugar-loaded water, it will drive the global bottled water market to new heights.
The global bottled water is segmented on the basis of product and region. The types of products in this market are carbonated water, still water, flavored water, and functional water. Regionally, this market is segmented into North America, Asia Pacific, Europe, and Rest of the World.
Still Water Segment to Augment in Coming Years
According to analysts, the still water segment will hold a dominating position in the overall bottled water market. Furthermore, the demand for flavored and functional water is also expected to increase in the coming years as consumers are becoming health and fitness conscious.
Asia Pacific to Lead Overall Market
In terms of revenue, Asia- Pacific 33% share in the global bottled water market in 2013. This dominance was attributable to the rising population, growth in disposable income, innovative packaging ideas, and growing health and fitness related concerns amongst consumers. As these sentiments continue to govern the market dynamics, Asia Pacific will lead the global bottled water market. Additionally, Europe and North America will lose their share in the overall market as Rest of the World and Asia Pacific will surge ahead in the coming years.
Companies Need to Focus on Novel Marketing Ways to Earn More Revenues
The only restraint in the global bottled water market will is the poor availability of the low-cost tap water. However, major players such as are Nestle Waters, Groupe Danone, PepsiCo Inc., Coca- Cola, Perrier, Fiji, and Poland Spring will have to try unique ways to earn revenue from the price-sensitive countries in the emerging economies. Interesting packaging ideas and increasing the nutritional value of the products will earn these companies a considerable share in the overall market.