Bottled Water Market Size Worth $505.19 Billion By 2028 | CAGR: 11.1%: Grand View Research, Inc.

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Feb 02, 2021, 05:35 ET

SAN FRANCISCO, Feb. 2, 2021 /PRNewswire/ -- The global bottled water market size is expected to reach USD 505.19 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.1% from 2021 to 2028. The growing awareness regarding the adverse health effects of consuming sugary drinks, such as weight gain, obesity, diabetes, and heart disease, is supporting the consumption of alternative beverages, such as still and sparkling water.

Key suggestions from the report:

The inclination toward packaged water rather than ordinary water, particularly among younger consumers, drives product sales. Observing this trend, several restaurants are providing bottled water to meet consumer demand
The purified water segment held the largest share of more than 35.0% in 2020. According to a United Nations study published in 2018, there are almost 16,000 desalination plants across 177 countries that provide purified water
The sparkling water segment is anticipated to be the fastest-growing segment with a CAGR of 11.7% from 2021 to 2028. Sparkling water is also marketed as sparkling drinking water or sparkling mineral water. Water that contains the same amount of carbon dioxide as its source post-treatment is defined as sparkling water
Asia Pacific held the largest market share in 2020 and is expected to maintain its lead throughout the forecast period. The regional market is mainly driven by the growing preference for bottled water owing to rising health issues caused by the consumption of contaminated water in countries, including China and India.

Read 80 page research report with ToC on "Bottled Water Market Size, Share & Trends Analysis Report By Product (Purified, Mineral, Spring, Sparkling, Distilled), By Region (North America, Asia Pacific, Europe, CSA, MEA), And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/bottled-water-market

The growth of the market is primarily attributed to rising awareness regarding the importance of hydration. According to a study conducted by the International Bottled Water Association in 2018, it was revealed that 93% of American citizens want bottled water to be sold in most stores selling beverages. A substantial part of the population prefers to quench their thirst using bottled water over other beverages.

Increasing preference for nutrient-fortified water is trending owing to the rising importance of health and wellness among buyers. The water demand has been increasing among travelers, working professionals, and for use in households.

COVID-19 has impacted the market for bottled water as many quick-service restaurants have been witnessing a significant drop in their sales. For instance, according to a blog post by CNBC LLC, McDonald's had witnessed a decline of 22% in March compared to the previous month. COVID-19 compelled the company to shut down its dining rooms.

Grand View Research has segmented the global bottled water market on the basis of product and region:

Bottled Water Product Outlook (Revenue, USD Million, 2016 - 2028)

Spring
Purified
Mineral
Distilled
Sparkling
Others

Bottled Water Regional Outlook (Revenue, USD Million, 2016 - 2028)

North America

U.S.

Europe

Germany
France

Asia Pacific

China
India

Central & South America

Brazil

Middle East & Africa

South Africa

List of Key Players of Bottled Water Market

Nestlé SA
PepsiCo
The Coca-Cola Company
DANONE
Primo Water Corporation
FIJI Water Company LLC.
Gerolsteiner Brunnen GmbH & Co. KG
VOSS WATER
Nongfu Spring
Rhodius Mineralquellen Und Getranke GmbH & Co KG.

Find more research reports on Consumer F&B Industry, by Grand View Research:

Sparkling Water Market – The global sparkling water market size was valued at USD 24.51 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.8% from 2020 to 2027.
Packaged Cactus Water Market – The global packaged cactus water market size was valued at USD 16.72 million in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 20.4% from 2020 to 2027. The product has been gaining traction among fitness enthusiasts and athletes owing to its health benefits.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.