The Global Premium Bottled Water Market size is expected to reach $24.6 billion by 2027, rising at a market growth of 5.8% CAGR during the forecast period.
Water is the basic necessity of life without which survival cannot be imagined. Consumption of fresh and pure drinking water plays a crucial role in maintaining the health of the body as well as the skin. The demand for expensive & quality water is continuously rising due to its consumption by a large number of people. Many of the business organization are aware of the importance of convenient packaging which resulted in the growing production of the water with bottled packaging.
Premium water undergoes distillation or other suitable process for purifying water and is considered free from impurities. The use of premium bottled water for drinking purposes is gaining traction from the past few years.
The rising awareness regarding the health benefits associated with the consumption of high quality bottled water which has various minerals along with the low quality standards of tap water is accelerating the demand for premium bottled water across the world. Consumers all over the world are adopting flavor water as a basic drink for hydration purposes.
Water is the basic necessity of life without which survival cannot be imagined. Consumption of fresh and pure drinking water plays a crucial role in maintaining the health of the body as well as the skin. The demand for expensive & quality water is continuously rising due to its consumption by a large number of people. Many of the business organization are aware of the importance of convenient packaging which resulted in the growing production of the water with bottled packaging.
Premium water undergoes distillation or other suitable process for purifying water and is considered free from impurities. The use of premium bottled water for drinking purposes is gaining traction from the past few years. The rising awareness regarding the health benefits associated with the consumption of high quality bottled water which has various minerals along with the low quality standards of tap water is accelerating the demand for premium bottled water across the world. Consumers all over the world are adopting flavor water as a basic drink for hydration purposes.
The outbreak of the COVID-19 pandemic has affected the world’s economy brutally. Various restrictions were imposed by the government of different countries which includes the restriction over the movement of goods & people and the complete lockdown imposed in order to curb the effect of the novel coronavirus. The food and beverages industry along with the hospitality sector has witnessed the negative impact of the increase in the cases of COVID-19.
Various business organizations such as hotels, resorts, spas, clubs, and restaurants were stayed closed due to restrictions imposed by the government. Even many of them were permanently closed due to the same. Also, a large number of people preferred not to dine in such food outlets due to the risk of spread of COVID-19 even after the reopening of them.
The food service sector across the world is rapidly growing. The growing consumer base and preference of consumers to dine in various food establishments is resulting in the increased number of hotels, restaurants and other food service outlets. Also, the increasing urbanization is leading to the growth of the hospitality sector. The bottled water is usually served with the meals by most of the restaurants, hotels and other food service outlets. Due to this growth of the hospitality sector would contribute to the high demand for premium bottled water.
Consumers are well aware regarding the health issues associated with the consumption of impure water. Drinking contaminated water may result in diarrhea, cholera, hepatitis A, dysentery and various other diseases due to which the consumer prefers to intake the water free from any kind of impurities. Moreover, tap water has more chances to get contaminated due to many reasons. The tap water may contain harmful chemicals like chlorine & fluoride generally added for removing microorganisms.
Furthermore, tap water deals with atmospheric deposition, accidental spills and runoffs which can result in chemical contamination of water. This can further increase the risk of endocrine damage, cancer, nervous system issues.
The consumption of bottled water for drinking purpose serves with various advantages but it is not affordable for many of the consumers in the world. The bottled water is usually more expensive than tap water which makes it unaffordable for people with less income. The high prices of bottled water is the result of advertising cost, transportation cost and manufacturing cost which further includes the cost of filtering.
In addition, the luxury brands are providing the most expensive and premium products in order to maintain their popularity. Many companies are designing the bottles used in packaging with platinum, gold and other precious & semi-precious stones and are adding gold and other expensive substances in the water resulting in high prices.
Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Specialty Stores, Online, and Other. In 2020, the supermarket & hypermarket segment dominated the premium bottled water with the largest revenue share. This is because of the increasing preference of consumers to purchase products from this distribution channel due to the better shopping experience. Also, the supermarkets offer convenience such as click & collect service and home delivery which attracts the customers.
Based on Product, the market is segmented into Mineral Water, Spring Water, Sparkling Water, and Others. In 2020, the spring water segment procured a substantial share in the premium bottled water market. The spring water is obtained from the ground water which is present below the natural earth's table. The spring water can be effective in reducing prevalence of heart disease and osteoporosis which is resulting in its high demand.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 17.2 Billion |
| Market size forecast in 2027 | USD 24.6 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 5.8% from 2021 to 2027 |
| Number of Pages | 147 |
| Number of Tables | 277 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Product, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The North America region witnessed a significant revenue share in the premium bottled water market in 2020. It is due to the growing demand for carbonated products across various nations of the region. In addition, the consumers in the region are shifting towards sweet carbonated flavored water as a better alternative to soft drinks.
Free Valuable Insights: Global Premium Bottled Water Market size to reach USD 24.6 Billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include include Lofoten Arctic Water AS, ROI water, Berg Water (2001 Investments Limited Company), Uisge Source, VEEN, NEVAS GMBH, and Beverly Hills Drink Company.
By Distribution Channel
By Product
By Geography
The global premium bottled water market size is expected to reach $24.6 billion by 2027.
Growth of hospitality sector are driving the market in coming years, however, high Prices of bottled water limited the growth of the market.
Lofoten Arctic Water AS, ROI water, Berg Water (2001 Investments Limited Company), Uisge Source, VEEN, NEVAS GMBH, and Beverly Hills Drink Company.
The Mineral Water segment acquired maximum revenue share in the Global Premium Bottled Water Market by Product 2020, thereby, achieving a market value of $9.8 billion by 2027.
The Specialty Stores segment shows high growth rate of 6.1% during (2021 - 2027).
The Europe is the fastest growing region in the Global Premium Bottled Water Market by Region 2020, and would continue to be a dominant market till 2027.
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