Premium Bottled Water Trends and Forecast
The future of the global premium bottled water market looks promising with opportunities in the supermarket & hypermarket, specialty store, and online markets. The global premium bottled water market is expected to reach an estimated $25.61 billion by 2030 with a CAGR of 6.7% from 2024 to 2030. The major drivers for this market are increasing consumer awareness regarding the health benefits of consuming premium bottled water and rising awareness regarding the importance of leading a healthy lifestyle.
• Lucintel forecasts that mineral water will remain the largest segment over the forecast period due to increasing awareness regarding the health benefits, coupled with the rising spending on premium products.
• Within this market, supermarkets and hypermarket will remain the largest segment due to effortless and convenient shopping experience.
• Europe will remain the largest region over the forecast period due to increasing consumption of these products at quick-service restaurants.
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Emerging Trends in the Premium Bottled Water Market
Premium bottled water market emerging trends are changing the way bottled water consumption is done owing to changing consumer behavior and perception and the evolution in technology.
• Sustainability Focus: There is an increasing focus on the use of green materials in bottle production such as bio-degradable and recyclable materials, and purchasing of raw materials follows certain criteria.
• Functional Benefits: An increase in demand for water which has health-enhancing characteristics including electrolytes, vitamins, and minerals.
• Artisanal and Exotic Sources: Growing interest in water obtained from exceptional natural sources and pristine places marketed on purity and uniqueness.
• Premium Packaging: New emphatic shifts in the designs of water packaging that promotes luxury and elevates the consumption experiences such as glass containers plus upscale labels.
• Health and Wellness: More consumers are becoming health conscious and thus the need for water that claims to offer health benefits is increasing.
• Personalization: Label and packing up to the premium bottled water of the consumers has some modifications, much as they want it.
• Online Retail: The enhancement of premium bottled water sales through the internet platforms that would facilitate the extension of the market reach.
Emerging trends in the premium bottled water market that have a shift in focus towards the health, packaging, and benefits to the users will be on a growing trend and also the mass customization of the consumers.
Recent Developments in the Premium Bottled Water Market
Recent shifts in the premium bottled water market reveal good strides in product development, product consumption, and competitive approach.
• Brand Expansion: Growing or emerging number of premium bottled water business operators all providing different product lines and positioning themselves uniquely.
• Sustainable Practices: Incorporation of green packaging and responsible raw material provisions in premium bottled water companies.
• E-commerce Growth: Premium bottled waters have been made accessible through an increase in the quantity of retail shops and sales.
• Luxury Positioning: Premium bottled water industry positioning itself as a luxury commodity of the market bearing the quality of highly sourced water and a packaged bottle consumables.
• Consumer Awareness: Development and rise in demand of high-quality health beverages containing various nutrients has gradually increased the production market.
• Innovation in Packaging: Marketing appealing campaigning to attract consumers with new packaging including but not limited to reusable and biodegradable ones.
The recent increase in activities in the premium bottled water market has been the ability to enhance health, still rout the moisture inside it and add innovations to span the market.
Strategic Growth Opportunities for Premium Bottled Water Market
Strategic growth opportunities present in premium bottled water market is a function of using consumer tendencies, innovations, and expansion strategies so as to grow profitably.
• Merging into Developing Regions: This entry strategy is directed toward emerging markets which have rising disposable incomes and increasing health concerns like that of China and India.
• Brand Extension: There is an introduction of new premium bottled water variants with certain attributes such as; enhancements in minerals or flavored waters to satisfy many consumers.
• Environmentally Friendly Packing: Companies are putting up eco-friendly packaging materials which not only meet the regulatory requirements but also appeal to the concern of the consumers.
• Correlation Between E-Commerce and Sales: Broader market coverage through the distribution of products via the internet.
• High-End Marketing of Bottled Water: Marketing bottled water as a high class and exclusive targeting the wealthy class by way of marketing.
• Alliances: The company creates alliances with retailers, restaurants, and lead distributors to improve their market coverage.
Premium bottled water markets can consider strategic growth opportunities that include entry expansion, product diversification as well as concentration on greening and e-Commerce for growth and profitability.
Premium Bottled Water Market Driver and Challenges
There are a number of drivers and challenges that the premium bottled water market experiences that assist or hinder the growth as well as development of the market.
The factors responsible for driving the premium bottled water market include:
1. Health and Wellness Trends: Today’s customers are more of quality concerned due to health and wellness needs thus bottled water of high standard and rich in nutrients is on high demand.
2. Premium Branding: There is a growing rich class of people who is willing to consume bottled water branded premium and luxurious.
3. Sustainability: There is an increasing trend towards the use of environmentally friendly packaging and sustainable harvesting which increases the appeal of premium bottled water.
4. Product Innovation: There are regular changes and improvements in the characteristics of the products offered, for instance enhancing minerals and unique water sources for changing consumer trends.
5. E-commerce Growth: There is enhanced penetration of marketing through web-based retailing strategies and this has widened markets into a large population.
Challenges in the premium bottled water market are:
1. High Production Costs: Premium bottled water is often associated with more costs of production and this affects the pricing of bottled drinking water and the competitiveness of the market.
2. Environmental concerns: The adverse effects on the people and the environment from feeding a single-use bottled water economy and bottle production are detrimental to sustainability.
3. Market competition: The presence of other beverage types and or brands brings substantial competition that can influence sales and recovery of expenses.
4. Consumer education: There is a constant urge to inform potential buyers about the premium bottled water for them to buy more than the normal bottled water.
5. Regulatory compliance: Coordination of the various rules and regulations regarding quality and safety aspects in different regions can be challenging and time consuming.
• Supply chain issues: Dealing with movement and provision of what is needed in order to provide the goods for sale such as logistical and supply chain needs can affect the cost and availability of the goods offered for sale.
The growth of the premium bottled water market is reliant on health-consciousness, luxury, and sustainability attributes of the product but encounters production cost, green issue, and rivalry aspects. Search of solutions to those problems embraced on market drivers will facilitate growth and expansion within the bottled water segment of the market.
List of Premium Bottled Water Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies premium bottled water companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the premium bottled water companies profiled in this report include-
• Bling H2O
• Roiwater
• Beverly Hills Drink Company
• NEVAS
• Lofoten Arctic Water
• MINUS 181
• Alpine Glacier Water
Premium Bottled Water by Segment
The study includes a forecast for the global premium bottled water by type, distribution channel, and region.
Premium Bottled Water Market by Type [Analysis by Value from 2018 to 2030]:
• Spring Water
• Sparkling Water
• Mineral Water
• Others
Premium Bottled Water Market by Distribution Channel [Analysis by Value from 2018 to 2030]:
• Supermarkets & Hypermarkets
• Specialty Stores
• Online
• Others
Premium Bottled Water Market by Region [Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Premium Bottled Water Market
The content depicts the latest changes made by key premium bottled water producers in the USA, China, India, and Japan.
• USA: In the United States, the market for premium bottled water products is growing tremendously due to the increasing appetite of consumers for quality healthy drinks. Recently, more brands have been suggested which deliver new selling points, say more minerals, less eco-friendly bottle and more mineral waters from exotic locations. This helped luxury brands adopt greener practices and less plastic use. Alongside, there is a growing trend of adding on functional benefits like infused electrolytes, and vitamins, to target health-driven customers. There is also market development for premium waters through E-commerce due to the rising trends in online shopping.
• China: In China, the growth of the market for premium bottled water is taking place at a very high speed as a result of better incomes and more health consciousness. While earlier there were only a few brands marketing bottled water in China, recently new trends have emerged whereby international premium brands enter into the Chinese market. Consumers are looking for water with some added health value, especially waters enhanced with minerals and pureness. Over the years, the Chinese market has also developed an appetite for premium bottled water which entails quality offerings and packaging. Also, local manufacturers are venturing into premium bottled water production in line with the growing middle class that is in search for healthier products.
• India: People in India, urbanization and increasing health awareness are fueling growth in the premium bottled water, which is at the infancy stage as a market. Recurrent patterns serve as the keeping water fresh in a flavored, co-flavored, and in a focus fashion for mineral and other health benefits oriented high tasting bottled water. The distribution of bottled water in the market is changing as bottled water is sold to affluent consumers, which is considered as a luxurious commodity in attempt to corner the market for premium bottle water products across the globe. The market is also changing towards the targeting of rich customers with creative packaging and branding. Nevertheless, other challenges such as affordability in pricing and competition against established domestic labels are yet to be solved as the progression shall still be on.
• Japan: Japan on the other hand is witnessing an boost in the premium bottled water market in line with uniqueness of water sources. Recurrent patterns serve as the recent event associated with changing the market development strategies that comes with the premium brand that is often celebrated for its purity, good taste, and other health benefits. For the Japanese population, there seems to be an increasing concern for bottled water that is packaged using clear portions of ocean water supplied from fish catching bays. There is also an increase noting that premium water is marketed for its benefits but also, adding a twist to it, for lifestyle. Premium bottled water products have been used in convenience stores and high end retailed outlets due to the existence of a quality producing culture which is favorable to innovation.
Features of the Global Premium Bottled Water Market
Market Size Estimates: Premium bottled water market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Premium bottled water market size by type, distribution channel, and region in terms of value ($B).
Regional Analysis: Premium bottled water market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, distribution channels, and regions for the premium bottled water market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the premium bottled water market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q1. What is the premium bottled water market size?
Answer: The global premium bottled water market is expected to reach an estimated $25.61 billion by 2030.
Q2. What is the growth forecast for premium bottled water market?
Answer: The global premium bottled water market is expected to grow with a CAGR of 6.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the premium bottled water market?
Answer: The major drivers for this market are increasing consumer awareness regarding the health benefits of consuming premium bottled water and rising awareness regarding the importance of leading a healthy lifestyle.
Q4. What are the major segments for premium bottled water market?
Answer: The future of the premium bottled water market looks promising with opportunities in the supermarket & hypermarket, specialty store, and online markets.
Q5. Who are the key premium bottled water market companies?
Answer: Some of the key premium bottled water companies are as follows:
• Bling H2O
• Roiwater
• Beverly Hills Drink Company
• NEVAS
• Lofoten Arctic Water
• MINUS 181
• Alpine Glacier Water
Q6. Which premium bottled water market segment will be the largest in future?
Answer: Lucintel forecasts that mineral water will remain the largest segment over the forecast period due to increasing awareness regarding the health benefits, coupled with the rising spending on premium products.
Q7. In premium bottled water market, which region is expected to be the largest in next 5 years?
Answer: Europe will remain the largest region over the forecast period due to increasing consumption of these products at quick-service restaurants.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the premium bottled water market by type (spring water, sparkling water, mineral water, and others), distribution channel (supermarkets & hypermarkets, specialty stores, online, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Premium Bottled Water Market, Premium Bottled Water Market Size, Premium Bottled Water Market Growth, Premium Bottled Water Market Analysis, Premium Bottled Water Market Report, Premium Bottled Water Market Share, Premium Bottled Water Market Trends, Premium Bottled Water Market Forecast, Premium Bottled Water Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.