Increasing Awareness about Health Risks of Impure Drinking Water Drives Bottled Water Market

Bottled water is controlled under the packaged foods category by the foremost food and drug regulatory agency of a nation. Prior to receiving quality certification by these agencies, bottled water is subject to quality tests in the purview of local and state level agencies authorized for the exercise. At a global level, it is the International Council of Bottled Water Associations (ICBWA), a consortium of bottled water companies from around the world, which oversees local regulatory agencies and controls the quality of bottled water.

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Amongst the numerous products in the food and beverage industry, bottled water is the one of the fastest selling refreshment drinks, which leads to the bottled water market becoming one of the fastest growing markets. Thus, the high volume of sales of bottled water across the world resulted in the value of the bottled water market being US$157.2 bn in 2013.

In the coming years as well, the sales volume of bottled water is slated to increase for reasons that are enumerated as follows:

• In developed countries, the increasing concern for health and wellness is luring consumers to opt for packaged drinking water, which has the necessary labeling and certification for the purity and safety of the packaged water.
• In richer countries, the availability of bottled water in quite a few flavors and in choices such as sparkling and functional is also enticing consumers to buy these products.
• However, in emerging economies, it is the rising economic power that is encouraging consumers to adopt Western food habits, such as ready-to-eat meals and bottled water, befitting their changing lifestyle.
• Other than these, international welfare agencies such as UNICEF are striving to provide safe drinking water in poverty-stricken countries of Africa. In this endeavor, bottled water is reckoned to be a feasible solution to cater to this essential need in these regions.

 Local Players Exercise Control on Bottled Water Market Extensively

In the bottled water market, the presence of a large number of private label brands and local artisanal bottlers is the reason for the market to be highly fragmented. In most countries, it is the regional and national players that account for the majority of the market. Nevertheless, some of the key players that have a significant presence in the global bottled water market are Nestle Waters, PepsiCo Inc., Perrier, Poland Spring, Groupe Danone, Coca-Cola, and Fiji. These companies are known for the manufacture of international bottled water brands such as Evian, Volvic, Fiji natural artesian water, and Perrier.

On a geographical consideration, many countries around the world are involved in the processing and export of bottled water, which brings in handsome revenue for these regions. For example, in 2013, Asia Pacific accounted for 33% of the overall market for bottled water, which is attributed to a combination of favorable reasons pertaining to increasing economic prosperity of Asian consumers. In this regard, the developed countries in North America and Europe will lose their share in the bottled water market due to increasing consumer consciousness to refrain from foods and beverages packaged in plastic.

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