Report : Asia Pacific Bottled Water Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Sparkling and Still), Category (Functional and Conventional), Flavor (Plain and Flavored), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)
At 6.8% CAGR, the Asia Pacific Bottled Water Market is speculated to be worth US$ 110.45 billion by 2028, says Business Market Insights
According to the Insight Partners’ research, the Asia Pacific bottled water market was valued at US$ 74.56 billion in 2022 and is expected to reach US$ 110.45 billion by 2028, registering an annual growth rate of 6.8% from 2022 to 2028.Growing acceptance of premium bottled water and eco-friendly bottled water packaging are the critical factors attributed to the market expansion.
Premium water bottles set themselves apart from the mainstream with a unique selling point. They attract a target group of consumers and command a higher value than the mainstream market. Price could be linked with the source of water, which may have a distinct mineral composition or link to a specific place or area. The purity of water and added functionality are also some of the key selling points. Premium bottled water may have less sodium content, high mineral content, and special glass or plastic packaging. Nowadays, consumers are seeking added value in their purchases and turning to premium brands. Premium bottle water satisfies the growing consumer needs by introducing value-adding to the drinking water. The demand for premium water is expanding from a niche category of consumers to a wider audience. Furthermore, various premium brands are moving beyond bottled water into other categories. Brands such as evian and volvic have expanded their range from pure water to flavors and fruit inclusions. Hence, the growing acceptance of premium bottled water will offer lucrative opportunities for the growth of The APAC bottled water market during the forecast period.
On the contrary, environmental Impacts of bottled water hurdles the growth of the Asia Pacific bottled water market.
Based on type, the Asia Pacific Bottled Water market is bifurcated into sparkling and still. The still segment held 62.62% market share in 2022, amassing US$ 46.69 billion. It is projected to garner US$ 68.27 billion by 2028 to expand at 6.5% CAGR during 2022–2028.
Based on category, the Asia Pacific bottled water market is bifurcated into functional and conventional. The conventional segment held 78.87% market share in 2022, amassing US$ 58.80 billion. It is projected to garner US$ 88.02 billion by 2028 to expand at 7.0% CAGR during 2022–2028.
Based on flavor, the Asia Pacific bottled water market is bifurcated into plain and flavored. The plain segment held 71.03% market share in 2022, amassing US$ 52.96 billion. It is projected to garner US$ 77.44 billion by 2028 to expand at 6.5% CAGR during 2022–2028.
Based on distribution channel, the Asia Pacific bottled water market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The convenience stores segment held 42.28% market share in 2022, amassing US$ 31.52 billion. It is projected to garner US$ 46.88 billion by 2028 to expand at 6.8% CAGR during 2022–2028.
Based on country, the Asia Pacific bottled water market has been categorized into the Australia, China, India, Japan, South Korea, and Rest of Asia Pacific. Our regional analysis states that China captured 44.87% market share in 2022. It was assessed at US$ 33.45 billion in 2022 and is likely to hit US$ 51.67 billion by 2028, exhibiting a CAGR of 7.5% during the forecast period.
Key players dominating the Asia Pacific bottled water market are Danone S. A; FiJI Water Company LLC; Nongfu Spring; Gerolsteiner Brunnen Gmbh and Co. Kg; Nestle S.A; PepsiCo, Inc; the Coca-Cola Company; and Voss of Norway AS among others.
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