Premium Bottled Water Industry Overview
The global premium bottled water market size was valued at USD 17.32 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.6% from 2021 to 2028. Premium bottled water companies set themselves from the mass market with a unique selling point, attracting a target group of consumers and commanding a higher value than the mass market. Growing awareness among consumers regarding premium-quality drinking water is the primary factor driving the product demand. The global foodservice and hospitality industry has been severely affected due to the COVID-19 pandemic, resulting in the closures of numerous businesses. Hotels, resorts, restaurants, spas, and clubs stayed closed, which hampered the retailing of food & beverages at these establishments. This has disturbed the product demand and led to declining sales across the globe.
The market growth in the U.S. is due to the high consumption of bottled water. As per a survey conducted in 2020, 3 in 5 Americans preferred bottled water over other beverages. Furthermore, according to the new data from Beverage Marketing Corp. (BMC), bottled water reaffirmed its position as America’s top packaged drink in 2020, outselling all other packaged beverages (by volume) followed by soda, coffee, and soft drinks for the fifth year in a row.
Gather more insights about the market drivers, restraints and growth of the Global Premium Bottled Water market
Restaurants in countries, such as Brazil, encourage customers to drink mineral-rich or premium bottled water. This trend is expected to drive the product demand during the forecast period. Mineral content, source of the water, and additional composition are some of the unique selling points, which create a premium image of bottled water.
The growing preference for premium bottled water over other beverages including coffee, tea, and soft drinks, especially in the Europe and North America regions, is attributed to several factors, such as supposed naturalness, better taste than tap water, added mineral contents, etc., which is expected to drive the market over the forecast period.
Furthermore, the product has several advantages, such as it helps improve digestion and may help relieve constipation. In addition, various studies have suggested that premium glacier/natural water is not as harmful as sodas for dental and bone health. Hence, several consumers consider carbonated water as a healthier alternative to soda and sugary carbonated drinks.
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Bottled Water Market - The global bottled water market size was valued at USD 283.01 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2030.
Sparkling Water Market - The global sparkling water market size was valued at USD 29.71 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.6% from 2021 to 2028.
Premium Bottled Water Industry Segmentation
Grand View Research has segmented the global premium bottled water market on the basis of product, distribution channel, and region:
Premium Bottled Water Product Outlook (Revenue, USD Million, 2016 - 2028)
- Spring Water
- Sparkling Water
- Mineral Water
- Others
Premium Bottled Water Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
- Hypermarkets & Supermarkets
- Specialty Stores
- Online
- Others
Premium Bottled Water Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East and Africa
Market Share Insights
November 2020: Bling H2O launched its new made-to-order collection called The Ten Thousand Bespoke Collection, with each premium bottle priced at USD 2,700.00 and made of over ten thousand hand-applied Swarovski Crystals. The bottle can be customized according to any color or combination upon request.
Key Companies profiled:
Some prominent players in the global Premium Bottled Water Industry include:
- Bling H2O
- Roiwater
- Beverly Hills Drink Company
- NEVAS GmbH
- Lofoten Arctic Water AS
- MINUS 181 GmbH
- Alpine Glacier Water, Inc.
- BLVD Water
- Berg Water
- Uisge Source
- VEEN
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