Report : North America 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 6.3% CAGR, the North America Bottled Water Market is speculated to be worth US$ 104.12 billion by 2028, says Business Market Insights
According to Business Market Insights’ research, The North America bottled water market was valued at US$ 72.02 billion in 2022 and is expected to reach US$ 104.12 billion by 2028, registeringan annual growth rate of 6.3% from 2022 to 2028.Increase in health concerns among consumers and shift in demand from carbonated soft drinks to bottled water are the critical factors attributed to the market expansion.
There is an increasing demand for bottled water due to rising health concerns among consumers about consuming contaminated water. Such conditions raise consumers' hygiene standards toward drinking safe water to maintain a healthy life. In places where people have no access to a safe water system or their water system does not supply high-quality water, bottled water is used as an alternative. Additionally, the heightened awareness of the need to stay hydrated has also been driving The North America bottled water market.
Increasing health awareness among consumers is leading to a rise in the adoption of new products with health benefits. Bottled water manufacturing companies are also extensively introducing new products to provide consumers with functional benefits, better taste, and convenience. In 2019, Nestlé launched Nestlé Pure Life Active. It is the first alkaline variant of the brand’s bottled water produced locally. Such innovative products offer several health benefits to consumers. As a result, many health-conscious people are choosing bottled water over other beverages, which also contributes to the increase in sales. Hence, an increase in health concerns among consumers is creating the demand for bottled drinking water, thus driving the market.
On the contrary,environmental Impacts of bottled water hurdles the growth of the North America bottled water market.
Based on type, North America bottled water market is bifurcated into sparkling and still. The still segment held 56.32% market share in 2022, amassing US$ 40.56 billion. It is projected to garner US$ 57.70 billion by 2028 to expand at 6.1% CAGR during 2022–2028.
Based on category, North America bottled water market is bifurcated into functional and conventional. The conventional segment held 79.85% market share in 2022, amassing US$ 57.51 billion. It is projected to garner US$ 83.84 billion by 2028 to expand at 6.5% CAGR during 2022–2028.
Based on flavor, North America bottled water market is bifurcated into plain and flavored. The plain segment held 71.18% market share in 2022, amassing US$ 51.26 billion. It is projected to garner US$ 72.71 billion by 2028 to expand at 6.0% CAGR during 2022–2028.
Based on distribution channel, North America bottled water market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The convenience stores segment held 40.41% market share in 2022, amassing US$ 29.10 billion. It is projected to garner US$ 42.19 billion by 2028 to expand at 6.4% CAGR during 2022–2028.
Based on country, North America bottled water market has been categorised into the US, Canada, and Mexico. Our regional analysis states that US captured 83.34% market share in 2022. It was assessed at US$ 60.02 billion in 2022 and is likely to hit US$ 87.97 billion by 2028, exhibiting a CAGR of 6.6% during the forecast period.
Key players dominating North America bottled water market are Danone S.A, Bluetriton Brands,Inc; FiJI Water Company LLC; Gerolsteiner Brunnen Gmbh And Co.Kg; Nestle S.A; PepsiCO,Inc; RHODIUS mineralquellen and Getranke Gmbh & CO.KG; the Coca-Cola Company; and Voss of Norway AS among others.
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