The 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:
The U.S. bottled water market involves packaging of drinking water into plastic bottles of various sizes and shapes for consumption. Bottled water comes in various forms such as spring water, purified water, mineral water, and sparkling water. Spring and purified bottled waters together hold the major market share, owing to their high demand. Bottled water is readily available in supermarkets, departmental stores, hypermarkets, and online retail channels across the country.
Market Dynamics:
The growth of the U.S. bottled water market is attributed to growing awareness about health benefits associated with drinking bottled water. Bottled water contains no calories, sugar, and other additives, which make it a healthier drinking option as compared to sodas and other calorie-rich beverages. Moreover, busy lifestyle has increased dependency on bottled water due to convenient packaging. However, high costs associated with bottled water compared to tap water and concerns regarding plastic waste act as restraints for the market growth.
Segment Analysis
The U.S. Bottled water market is dominated by the still water segment which accounts for over 70% of the market share. Still water is considered more convenient than tap water by many consumers. The ease of portability and perceived purity has made still water the preferred choice.
PEST Analysis
Political: There are stringent regulations for bottled water production and quality monitoring by the Food and Drug Administration (FDA). This ensures high quality standards are met.
Economic: The prevailing high disposable incomes have fueled the demand for bottled water. The convenient packaging is appealing to busy lifestyles.
Social: Changing tastes and preferences towards purified water without additives/calories is a major driver. Health consciousness and active lifestyles favor bottled water consumption.
Technological: Advances in sterile bottling and packaging technologies help achieve and maintain the purity levels. UV treatment equipment further removes microbiological impurities.
Key Takeaways
The Global U.S. Bottled Water Market Size is expected to witness high growth, exhibiting a CAGR of 8.4% over the forecast period, due to increasing health awareness and convenient packaging. At this rate, the market size is projected to reach US$ 48,264.13 Mn by 2030.
Regionally, the Western States account for over 35% share led by states like California due to hot and arid climates increasing demand for portable hydration. The easy availability of bottles water has made it ubiquitous even in grocery shops, airports and movie halls.
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. Strategic acquisitions and expansion of production facilities have enabled these companies to strengthen their market presence. Focus on natural spring water, functional varieties and eco-friendly packaging will remain key determinants of future growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
