IMARC Group, a leading market research company, has released a report titled “Premium Bottled Water Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global premium bottled water market size reached US$ 14.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.6 Billion by 2028, exhibiting a growth rate (CAGR) of 6.6% during 2023-2028.
Premium bottled water comprises a higher content of sodium, calcium, magnesium, and zinc. It is produced by distillation, deionization, reverse osmosis, and other suitable processes. It aids in enhancing taste, quality, purity, and safety and involves an adequate amount of overall dissolved solids (TDS), additional nutrients, and dissolved minerals as compared to conventionally used regular water. It offers hydration, removes harmful containments, improves digestion, boosts athletic performance, promotes clearer skin, and detoxifies the body. At present, the emerging trend of travel and tourism activities is driving the demand for premium bottled water due to the convenience offered and ease of carrying.
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Premium Bottled Water Market Trends and Drivers:
The increasing prevalence of water-borne diseases and gastrointestinal-related disorders, in confluence with the rising health consciousness among individuals, represent one of the major factors positively influencing the demand for premium bottled water around the world. Rapid urbanization and expanding purchasing power of consumers are also contributing to market growth. Moreover, the growing number of hotels, restaurants, cafes, resorts, and bars is driving the demand for premium bottled water worldwide.
In addition, there is a rise in the concern about high sugar content, and sweeteners in carbonated drinks is favoring the market growth. Apart from this, product manufacturers are introducing new and innovative flavored water variants to improve taste and nutritional benefits like vitamins and reduce calorie content. These manufacturers are also offering enhanced mineral content and other composites. In addition, they are focusing on packaging designs, patterns, labels, and customized product options. Key players are extensively financing advertising campaigns and celebrity and social media influencer endorsements to enhance brand awareness and profitability. This, in turn, is providing a thrust to the market growth.
Besides this, there is easy availability of premium bottled water in innovative packaging solutions with attractive labels through online retail channels. Along with this, an increasing number of e-commerce platforms that offer a wide catalog, free delivery, remarkable offers, and discounts is offering lucrative growth opportunities to key players operating in the industry. Additionally, the launch of testing equipment to analyze water quality and packaging of water bottles is propelling market growth. It helps treat bottled water with ultraviolet (UV) irradiation before packaging for protecting against the growth of pathogenic organisms during storage and transportation. Along with this, extensive research and development (R&D) activities to introduce automated testing equipment for improving the purity, safety, quality, and taste of bottled water are expected to strengthen the growth of the market.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product:
Spring Water
Sparkling Water
Mineral Water
Others
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Specialty Stores
Online Stores
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Alpine Glacier Water Inc.
Berg Water
Beverly Hills Drink Company
Bling H2O
Blvd Water
Danone S.A.
Gerolsteiner Brunnen GmbH & Co. KG
Lofoten Arctic Water AS
MINUS 181 GmbH
NEVAS GmbH
Roiwater
Uisge Source Inc.
Veen.
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