Trends and Industry Outlook\n\nThe bottled water industry has seen significant growth in recent years, with a global market value of $326 billion in 2023 and a projected growth to $509 billion by 2030. This growth is driven by an increasing demand for safe drinking water and a growing concern for health and wellness among consumers.\n\nOne of the key drivers of the bottled water industry is the increasing popularity of functional water, also known as aquaceutical. This type of water contains added supplements such as minerals, vitamins, and proteins, making it a popular choice among health-conscious consumers. The functional water segment is expected to grow at a compound annual growth rate (CAGR) of nearly 7% by the end of the decade, opening up new opportunities for the industry.\n\nIn terms of distribution, off-trade sales in retail outlets such as supermarkets and departmental stores dominate the market, accounting for 89% of bottled water sales. This is largely due to brand identity and customer loyalty, driven by the quality of water offered by different brands. The on-trade market segment, which includes sales in restaurants and bars, is expected to experience faster growth in the future, with a projected CAGR of 10.1% between 2023 and 2030.\n\nThe Asia Pacific region is currently the largest market for bottled water, contributing 45.1% to the global revenue. This is driven by an increasing concern for health and wellness in countries like China, India, and Indonesia. North America follows closely behind with 23.9% of the market share, while Europe is expected to see significant growth in the future due to the expanding tourism industry.\n\nThe growth and success of the bottled water industry, there are concerns about the environmental impact of plastic bottles. To address this, some companies have started using alternative packaging materials such as aluminum cans and glass bottles. PET packaging still dominates the market, accounting for 80% of the industry’s revenue due to its low production and transport costs.\n\nThe bottled water industry is expected to continue its growth trajectory, driven by an increasing demand for safe and nutrient-packed water.”