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Global Premium Bottled Water Market Size, Share, and Analysis, By Product Type (Spring Water, Sparkling Water, Mineral Water, Others), By Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online, Others) and Regional Forecasts, 2022-2032
Global Premium Bottled Water Market size was USD 17.56 billion in 2021 and projected to grow from USD 19.9 billion in 2023 to USD 35.3 billion by 2032, exhibiting a CAGR of 6.6% during the forecast period.
Premium Bottled Water tastes good and is high quality. It can differ from purified to spring water, or also be the combination. This water is called ‘purified water’ since it is created with deionization, distillation, reverse osmosis, or other appropriate procedures. Premium bottled water holds different pricing due to factors like the source of the water, the method of production, and the branding and packaging of the product.
Market Highlights
Premium Bottled Water Market is expected to reach USD 35.3 billion, growing at a CAGR of 6.6% during the forecast period owing to the growing awareness among consumers regarding premium-quality drinking water. People are switching from tap water to premium water due to growing knowledge of the value of living a healthy lifestyle. This factor is also expected to boost the growth of Premium Bottled Water Market in the forecast period.
Premium Bottled Water Market is classified based on the Product Type into Spring Water, Sparkling Water, Mineral Water, and Others. The Mineral Water category registered a major market share in the past year and is projected to maintain dominance over the estimated period. The market is expected to witness an increase in demand for mineral water due to rising health benefits awareness and rising premium product expenditure. The Sparkling Water segment is anticipated to expand more quickly throughout the projection period due to several health advantages, including bettering digestion, promoting weight reduction, and maintaining body’s hydration.
Premium Bottled Water Market is classified based on the Distribution Channel into Supermarkets & Hypermarkets, Specialty Stores, Online, and Others. The Supermarkets & Hypermarkets registered maximum share in 2022. This is due to consumers' rising preference for buying products from supermarkets and hypermarkets owing to easy accessibility and purchase. The forecast period is expected to witness increased growth for the online distribution channel. Businesses in the sector have been concentrating on expanding their internet networks in order to reach more consumers.
Consumers Shift Towards Mineral Water and Awareness About its Advantages are Expected to Boost the Market Growth
Many consumers are preferring Mineral Water over conventional bottled water since sparkling water and mineral water contain multiple minerals, including magnesium, sodium, and calcium. Premium bottled water, especially sparkling water, provides a number of additional benefits like enhancing digestion and possibly easing constipation. Moreover, a number of studies have indicated that premium natural/glacier water isn’t as detrimental to tooth and bone health as sodas. As a result, many consumers believe that carbonated water is a healthier choice to soda and most other sweet carbonated beverages. These factors are majorly driving the Premium Bottled Water Market.
Introduction of New Packaging Designs and Innovative Flavored Variants in Water are Expected to Boost the Market Growth
Companies are presenting novel packaging designs, logos, patterns, and customized product alternatives, which is spurring the Premium Bottled Water Market growth. Key producers are creating new and inventive flavors of flavored water that not only taste better but also have nutritional advantages like fewer calories and vitamins, helping the industry to expand. Furthermore, a number of marketing techniques like social media influencer and celebrity testimonials to broaden the market, are promoting the market growth.
High Cost and Concerns for Plastic Usage to Restrain the Market Growth
The market growth could be hampered by the high price of premium bottled water. Moreover, the consumer's tendency to overpay for a "simple packaged water" can limit the market to grow. Also, there are growing worries about the usage of plastics since people are exposed to such particles as they enter the body through inhalation and ingestion. These factor are restraining the growth of the Premium Bottled Water Market.
Premium Bottled Water Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Europe held a major share in 2020 and is projected to increase further by a steady CAGR during the forecast period. One of the key drivers behind the growth of the Europe Premium Bottled Water Market is the growing customer awareness of fitness and wellness. Asia Pacific is projected to be the regions with the quickest growth owing to the expanding domestic market and rising disposable income in the major countries. These factors will increase the expansion of the Premium Bottled Water Market.
The Covid-19 pandemic-related business closures have had a negative impact on the Premium Bottled Water Market. It is amongst the significant changes to have occurred in the past few months. One of the most severely impacted areas is the food service business. The food & beverages retailing has been steadily declining as the hotels, restaurants, resorts, spas, and clubs stayed closed. A significant number of crucial business meetings and events have also been cancelled or postponed. This has hampered the growth of the Premium Bottled Water Market.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 6.6% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Product Type |
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Distribution Channel |
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By Region |
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Premium Bottled Water Market size was estimated at USD 17.56 billion in 2021 and is expected to reach USD 35.3 billion in 2032.
Premium Bottled Water tastes good and is high quality. It can differ from purified to spring water, or also be the combination. This water is called ‘purified water’ since it is created with deionization, distillation, reverse osmosis, or other appropriate procedures.
Mineral Water and Online segments accounted for the largest Premium Bottled Water Market share.
Key players: Nestlé, Danone S.A, Aquafina, Gerolsteiner Brunnen GmbH & Co. KG, Fiji Water, Glaceau Smartwater, Ozarka, VEEN, Bling H2O, Roiwater, Beverly Hills Drink Company, Lofoten Arctic Water AS, Uisge Source, Poland Spring, Perrier, and Other Prominent Players are the key players in the Premium Bottled Water Market.
Rising awareness regarding quality drinking water and growing disposable income mainly in the developing nations are the factors driving the Premium Bottled Water Market.
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