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Premium Bottled Water Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global premium bottled water products market was valued at USD 50.1 billion in 2022 and is expected to expand at a CAGR of 8.2% from 2023 to 2030. Growing consumer demand for high-quality bottled water products is driving the market growth. Increasing health concerns and the rising consumption of bottled water are also driving the market growth. Additionally, the growing popularity of premium bottled water products among consumers has driven the demand for these products.
Furthermore, premium bottled water products offer various health benefits compared to regular bottled water products. For instance, premium bottled water products are usually enriched with minerals and vitamins, making them a preferred choice for health-conscious consumers. Moreover, premium bottled water products have a longer shelf life and are often sold in premium packaging, which is driving their demand. Furthermore, the development of innovative packaging is also driving the market growth.
In addition, companies are also focusing on improving their product portfolios by introducing new varieties of premium bottled water products with advanced features such as vitamins and minerals for enhancing the health benefits of the product. For instance, in October 2021, PepsiCo announced the launch of a new premium bottled water product, Propel, with added electrolytes, vitamins, and minerals. The product is intended to provide an energy boost to its consumers. Furthermore, new product launches and product extensions are helping companies to gain a competitive edge in the market.
Moreover, the growing number of health-conscious consumers is expected to drive the demand for premium bottled water products in the coming years. Consumers are increasingly seeking bottled water products that are free from impurities and contain natural minerals. The availability of natural and organic premium bottled water products is further driving the market growth. Furthermore, companies are also focusing on expanding their distribution channels to reach out to more customers. For instance, in April 2021, Coca-Cola launched its premium bottled water brand, Smartwater, in the Indian market. The brand is available in the retail stores, e-commerce websites, and convenience stores.
Product Insights
The premium bottled water segment held the largest market share of around 41.4% in 2022 due to increasing consumer preference for premium products. The major factor driving the demand for premium bottled water is its superior quality, which includes fewer impurities, cleanliness, and safety. As consumers are becoming more health-conscious, they are willing to pay more for premium bottled water. Furthermore, growing consumer preference for carbonated and flavored water, as well as increasing demand for organic water, is anticipated to drive the market growth.
The still bottled water segment is expected to expand at the fastest CAGR of 5.6% over the forecast period. Increasing consumption of still bottled water, thanks to its health benefits, is driving the market growth. In addition, rising awareness about the health benefits of still bottled water, such as better hydration and mineral content, is anticipated to propel the market growth. Moreover, the growing demand for convenience and portability is expected to further drive the market growth.
Distribution Channel Insights
The supermarkets and hypermarkets segment is projected to be the largest segment in 2022, owing to the growing consumer inclination towards these establishments to purchase premium bottled water. Supermarkets & hypermarkets also offer a wide selection of products and assist customers in making quick purchasing decisions. Additionally, the growing presence of large retail chains and the emergence of private label bottled water brands such as Walmart’s “Great Value” and Kroger’s “Private Selection” are expected to drive the growth of the segment.
The online segment is expected to expand at the highest CAGR of 8.6% over the forecast period. The growing internet penetration and the increasing number of people shopping online are expected to drive the growth of the segment. In addition, the growing preference for convenience and the increasing availability of discounts & offers on online stores are anticipated to drive the growth of the segment. Furthermore, the increasing number of e-commerce websites and mobile applications dedicated to the sale of premium bottled water are expected to drive the growth of the segment.
Type Insights
The still bottled water segment accounted for the largest revenue share of 68.2% in 2022. The increasing health concerns among consumers is driving the demand for still water across the globe. Additionally, the introduction of innovative packaging and premium bottle designs is also driving the growth of the segment. For instance, in 2021, Fiji Water introduced an innovative packaging design, which was inspired by the ocean and the brand’s heritage.
The sparkling bottled water segment is anticipated to expand at the highest CAGR of 10.4% over the forecast period. The rise in the consumption of healthier beverages, such as sparkling water, is mainly attributed to the growing health awareness among consumers and their preference for products that contain fewer calories and no artificial ingredients. In addition, the growing demand for sparkling bottled water from the foodservice channel is likely to fuel the market growth. For instance, in 2021, Aquafina launched a line of sparkling water in three flavors, namely, black cherry, lime, and strawberry lemonade.
Regional Insights
Europe dominated the global premium bottled water market and accounted for the largest revenue share of over 35.2% in 2022. This growth can be attributed to the changing consumer preferences towards premium products and growing health awareness among consumers. Additionally, the presence of several leading companies in the region is further driving the market growth. For instance, in June 2021, Evian launched a new premium bottled water product in the European market called Evian Live Young.
Asia Pacific is expected to witness the fastest growth in the coming years. Increasing disposable incomes along with rising awareness about the benefits of premium bottled water is driving the growth of the market in the region. Additionally, the presence of several leading companies in the region is further expected to fuel the market growth. For instance, in June 2021, PepsiCo launched its new premium bottled water product called Aquafina in the Asia Pacific region.
Financial Projections
In this part of the premium bottled water products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your premium bottled water products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a premium bottled water products business comes from the sale of bottled water products. Here you will find a list with a description of each of them including pricing, marketing and promotional plans, and other possible sources of profit such as fundraising, sponsorships, and the sale of other related products.
Projecting Expenses
In this section, all the regular expenses related to keeping the premium bottled water products business running will be described. The list of operating expenses includes packaging costs, wages, maintenance and repairs, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the premium bottled water market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In July 2022, Evian launched a new range of premium bottled water in various flavors, including cucumber, lemon, and cherry.
– In August 2022, Nestle launched its premium bottled water range, Pure Life, in India.
– In October 2022, PepsiCo launched Aquafina FlavorSplash, a range of flavored premium bottled water.
Some of the prominent players in the premium bottled water market include:
– Nestle
– PepsiCo
– The Coca-Cola Company
– Danone
– Evian
– Mountain Valley Spring Company
– LIFEWTR
– Ice Mountain
– Topo Chico
– VOSS Water
Global Premium Bottled Water Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global premium bottled water products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Still
– Carbonated
– Flavored
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Natural
– Artificially Enhanced
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the key factors driving the premium bottled water market?
[A]: The premium bottled water market is driven by factors such as the increasing demand for healthy and convenient drinking options, the growing health consciousness among consumers, and the rising number of health-related initiatives taken by governments. The increasing popularity of premium bottled water and the increasing demand for functional and flavored bottled water is also expected to contribute to the growth of the market.
[Q]: Who are the major players in this market?
[A]: The major players in the premium bottled water market include Nestlé Waters, PepsiCo, Coca-Cola, Danone, Cott Corporation, Icelandic Glacial, and Bisleri International.
[Q]: What is the estimated market size of the premium bottled water market?
[A]: The global premium bottled water market is estimated to reach a valuation of approximately US$ 49 billion by the end of 2025.
[Q]: What is the expected CAGR of the premium bottled water market?
[A]: The premium bottled water market is expected to register a CAGR of 5.5% during the forecast period, 2020-2025.
[Q]: What are the regional trends of the premium bottled water market?
[A]: The Asia-Pacific region is estimated to be the fastest-growing and largest market for premium bottled water, driven by the increasing demand for healthy and convenient drinking options in this region. The Europe region is expected to witness a high growth rate, backed by the presence of a large number of health-conscious consumers and the rising number of health-related initiatives taken by the government.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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