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New report details growth, decline patterns in marketplace
According to a report by Zion Research, the global bottled water market was valued at approximately $170 billion in 2014 and is expected to reach approximately $280 billion by 2020, growing at a compound annual growth rate (CAGR) of approximately 8.5% between 2015 and 2020. In terms of volume, the global bottled water market was approximately 290 billion liters in 2014. The report is titled “Bottled Water (Still, Carbonated, Flavored and Functional Bottled Water) Market: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020.”
The global bottled water market is mainly driven by increased health awareness and changing consumer lifestyle. Factors include strong demand for clean, flavored and hygienic drinking water; advancement in user-friendly packaging; and growth of the tourism industry and portability of hygienic bottled water. However, stringent regulations regarding packaging of water and bottled water standards are expected to hamper the growth of the market to some extent. The availability of tap water and rising concerns about increasing plastic waste are expected to present challenges to the market as well.
Still, carbonated, flavored and functional bottled water are the key product segments of the bottled water market. The still bottled water product segment held the largest share in the global bottled water market and accounted for a more than 60% share in overall consumption in 2014. The still bottled water segment is expected to exhibit moderate growth during the forecast period.
Carbonated was the second largest segment of the bottled water market in 2014. Carbonated bottled water is expected to witness a slight decline in its market share in the years to come. The flavored and functional water segment is expected to witness rapid growth during the forecast period.
The Asia-Pacific region was the leading regional market for bottled water, with more than 30% share of total consumption in 2014. It is expected to remain a major regional market for bottled water during the next five years. North America and Europe are expected grow at a moderate pace in the forecast period, but experience a decline in market share. Latin America and the Middle East are expected to witness robust growth in the bottled water market.
Some of the key players in the global bottled water market include Coca-Cola Co., PepsiCo Inc., Nestle Waters, Ajegroup SA, Groupe Danone, CG Roxane LLC, Fonti Di Vinadio S.P.A. LLC, Icelandic Water Holdings ehf., Suntory Beverage & Food Ltd., HassiaWaters Intl., GmbH & Co. KG, Grupo Vichy Catalan and Hangzhou Wahaha Group Co. Ltd.
For the full report, visit www.marketresearchstore.com/report/bottled-water-market-z39681.