LONDON--(BUSINESS WIRE)--The global premium bottled water market is expected to grow at a CAGR of close to 6% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global premium bottled water market for 2017-2021. The market is further categorized into two product segments, including flavored and unflavored.
Technavio’s research analysts segment the global premium bottled water market into the following regions:
- EMEA
- Americas
- APAC
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EMEA: largest global premium bottled water market
There is a growing demand for premium bottled water in the European region, and it has one of the most effective and strict legal frameworks to approve that the naturally sourced waters reach the consumers in their original state. The market is expected to grow moderately during the forecast period and is also observing strategic partnerships and takeovers by the players in the market to consolidate their position in the market. The market in the Middle East is predicted to grow at a high pace during the forecast period. There is a need for the players to increase the production capabilities to meet the increasing demand for bottled water.
“The market in the Middle East is expected to grow at a high pace during the forecast period. The players in the region need to invest in increasing the production capabilities to meet the increasing demand for bottled water. It is assessed that the production in Saudi Arabia should increase by more than 60% and the production in the UAE should increase by more than 20% to meet the rising demand,” says Manjunath Reddy, a lead food research expert from Technavio.
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Premium bottled water market in the Americas
Through the forecast period, the premium bottled water market in the Americas is expected to witness steady growth. Lack of confidence in the quality of public water supplies and the convenience linked with premium bottled water is one of the key reasons for increasing demand. The top country in the global premium bottled water market is the US, and it is anticipated to witness high growth rate during the forecast period.
“The product appeals to many health-conscious consumers as premium water is enriched with minerals, vitamins, and natural flavors. Apart from this, an increase in obesity rates and health-related issues is influencing consumers to shift to healthy beverages and is fueling the demand for flavored premium drinking water as it is naturally healthy. This, alongside the large urban population base in countries like the US, Canada, Brazil, and Mexico, is driving the growth of the market,” says Manjunath.
Premium bottled water market in APAC
In APAC, the premium bottled water market is expected to witness moderate growth rate during the forecast period. As the consumers in most of the developing economies do not spend more on drinking water, the market in these regions is still in a nascent stage. The popular targets for bottled premium water players are countries such as India and China that have high economic growth and a huge population of High Net Worth Individual (HNWI). One of the major reasons that has contributed to the growth of the premium bottled water market in APAC is increasing water pollution and the health benefits of premium bottled water. In the packaging of premium water, a major trend emerging in the market in APAC is the growing prominence of Polyethylene terephthalate (PET) bottles.
The top vendors in the global premium bottled water market as highlighted in this market research analysis are:
- The Coca-Cola Company
- Danone
- Nestlé
- Tibet Water Resources
- GEROLSTEINER BRUNNEN
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