Bottled Water Market: Current Scenarios and OpportunitiesA Chapter by Markets InsightsThe global bottled water market size was valued at USD 283.01 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2030.The global Bottled Water Market size is expected to reach USD 509.2 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.7% from 2022 to 2030. Increasing demand for bottled water owing to the rising scarcity of fresh and pure drinking water across the globe is driving the market. Factors such as health benefits with added minerals and nutrients are likely to fuel the demand for bottled water over the forecast period. Growing awareness regarding the adverse health effects of consuming sugary drinks, such as weight gain, obesity, diabetes, and heart disease, is supporting the consumption of alternative beverages such as still and sparkling water. The trend of switching from sugary drinks to healthier options is observed in several countries such as Germany, the U.S., the U.K., and France. This has widened the scope for bottled water across the globe. Purified water emerged as the largest product segment in 2021 and is expected to maintain its lead over the forecast period. With water likely to become an even scarcer resource in the coming years, the demand for potable water is increasing across the world, especially in developing economies with a rapidly rising population. Countries in the Africa and Asia Pacific regions are expected to witness considerable demand for purified water over the course of the forecast period. According to the U.S. and International Developments and Statistics, July 2021, Asia is one of the biggest regional players in the market with China accounting for more than one-quarter of the world’s bottled water volume. The off-trade distribution channel segment held the largest revenue share in 2021 owing to the presence of a large number of retail stores across the globe. Further, in developed countries, convenience stores and supermarkets/hypermarkets are popular places to purchase bottled water; thus, this market segment is growing rapidly. According to NACS Convenience Tracking Program (CTP) data, 2019 convenience stores in the U.S. sold nearly 50% of all single-serve bottled water. The market is fragmented with the presence of a large number of regional and local players. Major companies in the market are focusing on new product launches, capacity expansions, and technological innovations. Related Press Release@ Bottled Water Market Report Bottled Water Market Report Highlights
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StatsAuthorMarkets InsightsFelton, CAAboutAbout Us: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer c.. more..Writing
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