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Global bottled water market to reach $280 billion by 2020

Flavored and vitamin-rich options will be areas of significant growth, says Transparency Market Research.

Transparency Market Research has announced the release of a report titled “Bottled Water Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”. The report states that the net worth of the global bottled water market will rise from US$157.27 billion in 2013 to US$279.65 billion by 2020, reporting growth at a CAGR of 8.7% over the period.

The report states that the global market of bottled water has grown at a relatively robust pace over the past few years majorly due to rising concerns regarding health and wellness and the emergence of new and innovative packaging initiatives. Additionally, the option of a number of flavors in bottled water and qualities such as vitamin-rich formulas and portability provided by bottled water are also allowing significant growth opportunities.

However, the market is presented with constraints such as the potential of contamination and leaching due to substitution with low cost tap water, which limit the growth of the market to a certain extent. Still, the market has a promising future, especially for small bottlers due to the availability of innovative and economic bottling equipment in the market.

The report segments the market into types of bottled water products and key regional markets. The product segment is further categorized into still bottled water, carbonated bottled water, functional bottled water, and flavored bottled water.

In 2013, still bottled water dominated the marketplace by accounting for nearly 64.9% of the entire value of the market. Asia Pacific dominated the overall market with a nearly 33% market-value share.

The global market is highly fragmented with local and private label brands enjoying more than 60% share of the market in 2013.

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