The bottled water market has surpassed carbonated soft drinks and expected to continue to grow
A new report released by the Business Research Co. found that the bottled water market is on the rise and attributes rising health concerns as the cause. The report found that bottled water sales have surpassed carbonated soft drinks to become the largest beverage category. The global bottled water market grew to more than $200 billion following a 9% yearly growth between 2014 and 2017.
According to the report, bottled water consumption is highest in the Asia Pacific region, as more than two-fifths of the global consumption. This could potentially be due to poor water infrastructure quality raising a need for quality water. North America was found to be the second highest consumer, with a higher cost for bottled water.
In coming years, the agency predicts trends such as a continued shift from soft drinks to bottled water, growing acceptance of premium bottled water and an increase in demand for flavored water.
The Business Research Co. predicts that global per capita average bottled water expenditure will raise from $32.3 per head in 2017 to $45.3 by 2010.
More information on the report and projection of the bottled water market can be found through the Business Research Co.