The global premium bottled water market size is estimated to arrive at USD 17.60 billion by 2028. It is projected to develop by 6.8% CAGR from 2021 to 2028.
Increasing consciousness of the customers about the fitness benefits of drinking bottled water, having unadulterated element and minerals, are expected to steer the enlargement of the premium bottled water market, during the forecast period. Since, the majority Americans realize it to be a safer and additionally suitable alternative than tap water, they choose bottled drinking water.
The increasing necessity for biodegradable packing of the premium bottled water is, furthermore, proposing profitable expansion openings for existing manufacturing companies, in addition to the fresh participants.
Besides, companies aim at chosen grouping of clients as well as outlets, for example clubs, 5-star hotels, resorts, because the price of the premium bottled water is somewhat elevated as contrast to the usual bottled water. A growth in the figure of clubs, 5-star hotels, spas, and resorts, is expected to increase the demand for the product. For example, Icelandic Glacial premium bottled water is getting served to its customers, in LXR Luxury Resorts.
Additionally, several companies have been inducting innovative packaging, containing crystals, fresh designs, logos plus others, to provide it an additional custom-made experience and in this manner augment sales. The guarantee for purity of the water is frequently a crucial advertising proposal, utilized for positioning of the trademark, by several manufacturing companies of the premium bottled water.
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Further key findings from the report suggest:
• Owing to worsening quality of water in the nations, for example India and China, a growth in the retailing of packaged water bottles will increase further the expansion of the market
• During the forecast period, in terms of revenue share, Europe is projected to direct the global market, whereas Asia Pacific is anticipated to be the highest rising local market
• The global premium bottled water market is estimated to develop by 6.8% CAGR, during the period of the forecast
• The enlargement of the Asia Pacific market can be credited to increasing requirement for the secure drinking water, due to the increasing populace within the region and product improvement
• Improvements in terms of bottle designs and sustainable packaging along with the presentation of new products are a few crucial approaches, taken on by the companies to increase the market share
Million Insights segmented the global premium bottled water market based on Region.
Premium Bottled Water Regional Outlook (Revenue, USD Million, 2016 - 2028)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)
• South Africa
Various companies for premium bottled water market are:
• Uisge Source
• Berg Water
• Alpine Glacier Water, Inc.
• Beverly Hills 9OH2O
• Bling Water