IMARC Group's report titled "Premium Bottled Water Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", The global premium bottled water market size reached US$ 14.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 21.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.6% during 2024-2032.
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Factors Affecting the Growth of the Premium Bottled Water Industry:
- Health Consciousness:
As consumers are becoming more health-conscious, they are seeking alternatives to sugary beverages like sodas and juices. Bottled water, especially premium varieties, is often perceived as a healthier choice due to its lack of calories, sugars, and artificial additives. Health-conscious consumers understand the importance of proper hydration for overall well-being. Premium bottled water brands often emphasize the purity and quality of their products, appealing to consumers who prioritize hydration as part of a healthy lifestyle.
- Perception of Quality and Purity:
Premium bottled water brands often emphasize the superior quality and purity of their products compared to regular bottled water or tap water. This positioning creates a perception of exclusivity and luxury, driving consumer interest in premium offerings. Premium bottled water brands frequently highlight the pristine environments from which their water is sourced. Whether it is mountain springs, natural aquifers, or remote locations, these sources are associated with purity and cleanliness, appealing to consumers seeking high-quality water.
- Environmental Concerns:
Premium bottled water brands are sourcing water from sustainable and responsibly managed sources. They may highlight their commitment to protecting natural ecosystems, preserving biodiversity, and supporting local communities, thereby appealing to environment conscious consumers. Many premium bottled water brands are investing in eco-friendly packaging solutions to reduce their environmental footprint. This includes using recycled materials for bottles, caps, and labels, and exploring alternative packaging formats, such as biodegradable or compostable containers.
Leading Companies Operating in the Global Premium Bottled Water Industry:
- 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
Premium Bottled Water Market Report Segmentation:
By Product:
- Spring Water
- Sparkling Water
- Mineral Water
- Others
Mineral water represents the largest segment due to its natural mineral content and is preferred by consumers seeking premium hydration options.
By Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Others
Supermarkets and hypermarkets account for the majority of the market share as they offer convenient access to a wide range of premium bottled water brands and attract a diverse customer base interested in quality and convenience.
Regional Insights:
- 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
Europe enjoys the leading position in the premium bottled water market on account of a strong consumer demand for high-quality beverages, a culture of health and wellness, and a well-established infrastructure for premium product distribution and marketing.
Global Premium Bottled Water Market Trends:
Premium bottled water brands are investing in innovative packaging designs and materials to enhance product differentiation and appeal to consumers. Sleek, aesthetically pleasing bottles and unique packaging formats are becoming more common to attract attention on store shelves.
There is a growing demand for premium bottled water with added functional benefits, such as electrolyte-infused, alkaline, or vitamin-enhanced varieties. Brands are capitalizing on this trend by introducing innovative formulations that cater to specific consumer needs and preferences.
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