Research Report Explores The Bottled Water Market Emerging Trends And Strong Application Scope By 2024

Geographically, Asia Pacific is foreseen to overtake the position of the leading regional market from North America by the end of 2024. As of 2017, North America constituted for a demand that was worth US$59.4 bn., slightly more than Asia Pacific at 54.3 bn. However, expanding at an above-average CAGR of 8.4%, the Asia Pacific bottled water market is estimated to be worth US$95.2 bn. The vastly populated region of Asia Pacific had two of the most promising emerging economies in China and India, whose urban populations are the key targets of the vendors operating in this market.

As per the findings of this business intelligence report on the global bottled water market, the demand will expand at a notable CAGR of 6.44% during the forecast period of 2017 to 2024.

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In terms of revenue, methodology-based market evaluations have confirmed that the global bottled water market will attain a valuation of US$307.2 billion by 2024, swelling up from its evaluated worth of US$198.5 billion as of 2017. Volume-wise, there will be an estimated demand of 528.2 billion liters of bottled water by the end of 2024.

Apart from increasing awareness levels for greater intake of water among prosperous parts of the world, the bottled water market also stands to gain impetus from growing popularity of carbonated water. Companies operating in the bottled water market are coming up with ecofriendly packaging materials as well as providing for adequate recycling. Mushrooming of small and medium enterprises (SMEs) is also stoking the demand for large-sized bottled water. On the other hand, environmental impact of plastic bottles and stringent government regulations are a few restraints obstructing the bottled water market from attaining a stronger growth rate.

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Still Water Bottles to Remain Key Product Segment

On the basis of product type, the bottled water market has been segmented into still water, carbonated water, functional water, and flavored water. As of 2017, the still bottle water segment provided for a demand of 273.3 bn. liters in terms of volume, which represented a value of US$156.0 bn. Even throughout the aforementioned forecast period, this segment is expected to hold its prominence, providing for more than 77% of the overall demand in the global bottled water market. Among the other three segments, functional and flavored water are anticipated to gain moderate ground in the near future whereas carbonated bottle water will lose demand share.

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Ganesh Rajput

As one of the lead news writers on CMFE News, Ganesh’s specialization lies in the science and technology domains. His passion for the latest developments in cloud technology, connected devices, nanotechnology, and virtual reality, among others, shines through in the most recent industry coverage he provides. Ganesh’s take on the impact of digital technologies across the science, technology, and business domains gives his writing a fresh and modern outlook.

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