The global U.S. Bottled Water Market is estimated to be valued at US$ 26067.32 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Bottled water refers to drinking water packaged in plastic or glass water bottles. Bottled water is considered convenient to carry and consume as compared to tap water. It is perceived as cleaner and healthier than tap water by consumers.
Market key trends:
One of the key trends driving the growth of the U.S. bottled water market size is the increasing health consciousness among consumers. Consumers perceive bottled water to be more hygienic and pure than tap water. This is due to increasing awareness about water borne diseases and contamination of tap water. Further, bottled water companies promote their products as natural, zero-calorie and chemical free alternative to carbonated beverages and juices, which is fueling the demand. However, excessive plastic waste from bottled water packaging is considered environmentally harmful. This may act as a restraint for the market growth over the forecast period.
SWOT Analysis
Strength: The U.S. bottled water market benefits from strong brand recognition and loyalty for popular brands. The bottled water segment is seen as a healthier option compared to carbonated drinks and juices.
Weakness: Bottled water has higher production and packaging costs compared to tap water. Excessive plastic waste from non-recyclable water bottles is an environmental concern.
Opportunity: Growing health consciousness among consumers is driving the demand for purified and mineral water. Advancements in packaging technologies help reduce plastic usage and promote sustainability.
Threats: Strict government regulations pertaining to plastic packaging waste management can increase operational costs. Rising concerns over depleting groundwater resources also pose a threat over the long run.
Key Takeaways
The global U.S. bottled water market is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing health awareness among consumers. The demand for bottled water is growing significantly as people focus more on fitness, nutrient consumption and embrace active lifestyles.
Regional analysis: The Western region dominates the U.S. bottled water market currently. States like California account for the highest consumption due to hot weather conditions and health consciousness. However, the South-Eastern region is projected to witness the fastest growth during the forecast period driven by population growth in states like Florida.
Key players: Key players operating in the U.S. bottled water market are Nestle Waters, PepsiCo, Inc., The Coca-Cola Company, Groupe Danone, Suntory Beverage & Food Ltd, Mountain Valley Spring Company, LLC, and CG Roxane, LLC. The market remains fairly consolidated with the top players accounting for majority of the market share.
