Premium Bottled Water Market Is Expected To Grow At A CAGR Of 6.6% From 2021 To 2028

 Premium Bottled Water Industry Overview

The global premium bottled water market size is expected to reach USD 28.85 billion by 2028, registering a CAGR of 6.6% over the forecast period, according to a new report by Grand View Research, Inc. The growing concerns about high sugar content and sweeteners in carbonated drinks have played a prime role in driving the product demand over the last few years. With the rising awareness regarding the importance of leading a healthy lifestyle, people are switching from regular water to premium bottled water. Due to the presence of a variety of minerals, including sodium, magnesium, and calcium, consumers opt for premium bottled water over regular bottled water.

 

The mineral water segment held the largest revenue share in 2020 and is expected to maintain its dominance over the forecast period. Mineral water is in high demand globally, thereby prompting several manufacturers to extend their operations internationally. For instance, Tata Consumer Products Ltd. (TCPL), a renowned Indian FMCG brand, launched its premium natural mineral water brand Himalaya water in the U.K. in August 2021, which is available in supermarkets and hypermarkets. The supermarkets & hypermarkets distribution channel segment accounted for the majority of the global revenue share in 2020.

The increasing product availability at Walgreens, Walmart, Target Brands, Inc., Costco, and The Boots Company PLC among others has immensely helped these products to be in the demand for now and during the forecast years. The Europe region led the global market accounting for the maximum revenue share in 2020. Premium bottled water is popular in European countries, including Germany, France, and Spain, due to health various benefits, such as digestive assistance and prevention of dehydration. Moreover, Europe is a popular tourist destination and most of the tourists prefer packaged premium bottled water due to its attractive packaging and high mineral contents.

 

Premium Bottled Water Market Segmentation

Grand View Research has segmented the global premium bottled water market on the basis of product, distribution channel, and region:

Based on the Product Insights, the market is segmented into Spring Water, Sparkling Water, Mineral Water, and Others.

  • The mineral water segment held the largest revenue share of 41.9% in 2020 and is expected to maintain its dominance over the forecast period. Premium mineral water usually contains a higher content of calcium, magnesium, sodium, and zinc. The growing awareness regarding the health benefits and increased spending on premium products are expected to drive the segment over the forecast period.

 

  • The sparkling water segment is projected to register the fastest CAGR during the forecast period. With the growing awareness about the importance of leading a healthy lifestyle, individuals across the world are gradually turning to healthier and more inventive drinks, such as sparkling water over sodas and sugary carbonated drinks.

 

Based on the Distribution Channel Insights, the market is segmented into Hypermarkets & Supermarkets, Specialty Stores, Online, and Others.

  • The supermarkets & hypermarkets segment accounted for the highest revenue share of more than 41% in 2020. This is attributed to the growing preference of consumers for supermarkets/hypermarkets for product purchasing due to the convenient shopping experience. Several supermarkets offer lucrative and sophisticated services, such as click & collect and home delivery, which have been attracting consumers.

 

  • The online distribution channel segment is projected to register the fastest CAGR during the forecast period. Companies in the industry have been focusing on increasing consumer reach by strengthening their online networks.

 

Premium Bottled Water Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies & Market Share Insights

The market is characterized by the presence of some exclusive companies with a strong presence across the U.S. and Europe. Several players have been introducing premium bottles to expand their consumer base in this niche market. These developments and innovation strategies have had a positive impact on the market. An increasing number of companies have also been introducing new products to gain a competitive edge. For instance, in November 2020, Bling H2O launched its new made-to-order collection called The Ten Thousand Bespoke Collection, with each premium bottle priced at USD 2,700.00 and made of over ten thousand hand-applied Swarovski Crystals. The bottle can be customized according to any color or combination upon request. Some of the key players operating in the global premium bottled water market include:

  • Bling H2O
  • Roiwater
  • Beverly Hills Drink Company
  • NEVAS GmbH
  • Lofoten Arctic Water AS
  • MINUS 181 GmbH
  • Alpine Glacier Water Inc.
  • BLVD Water
  • Berg Water
  • Uisge Source
  • VEEN

 

Order a free sample PDF of the Premium Bottled Water Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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