London, Jan. 16, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Bottled Water (Still, Carbonated, Flavored and Functional) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" market was valued at USD 157.27 billion in 2013, which is expected to reach USD 279.65 billion by 2020, growing at a CAGR of 8.7% from 2014 to 2020. By volume, global bottled water market is expected to grow at a CAGR of 8.3% during the forecast period from 2014 to 2020 to reach a market size of 465.12 billion litersby 2020. In 2013, volume of the market was 267.91.billion liters.
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Rising concern for health and wellness and evolution of new packaging initiatives are the major factors driving the growth of bottled water market. In addition, demand for bottled water has triggered with the increase in consumer choice availability for different flavored and vitamin rich functional water. Innovation in the field of portability of hygienic water is also filliping the growth of global bottled water market. Market restrains such as water contamination caused by leaching and lack of awareness regarding health hazards of low cost tap water have partially hindered the growth of global bottled water market. However, evolution of innovative and economical equipment designed for handling small bottling operations has increased the attractiveness of bottled water market among small bottlers.
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By product type, bottled waters are classified as still water, carbonated water, flavored water and functional water. By revenue, still water is the largest contributor in the global bottled water market in 2013 and accounted for a market share of 64.9% respectively. Carbonated bottled water is the second largest contributor in the global bottled water market in 2013 and accounted for a market share of 22.9% respectively. Wide acceptance of non flavored and non carbonated drinking water is the key driving force behind the largest market share of still water segment. As of 2013, market share for flavored water and functional water were 7.1% and 5.1%. During the forecasted period from 2014 to 2020, high growth for flavored water segment will be triggered by product innovation regarding bottling of flavored drinking water. In addition, certain amount of consumer choice shift from unflavored to flavored drinking water will also drive the growth of flavored water segment.
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The global bottled water market has been segmented into four broad regions: North America, Europe, Asia Pacific and RoW. By revenue, Asia Pacific is the global market leader in 2013; accounting for 33.0%. Moreover, during the forecasted period from 2014 to 2020, Asia Pacific is expected to remain the most promising market growing at an estimated CAGR of 10.5% in terms of revenue. The growth is attributed to high volume consumption, shifting trend in drinking habits towards more hygienic drinking options, rising disposable income and bulk water purchase among others. Europe is the second largest contributor in the global bottled water market in 2013 and accounted for a market share of 28.8%.
Some of the leading players in the market are Ajegroup SA (Peru), CG Roxane, LLC (U.S.), Coca-Cola Company (U.S.), Groupe Danone (France), Fonti Di Vinadio S.P.A. (Italy), HassiaWaters International GmbH & Co. KG (Germany), Icelandic Water Holdings ehf. (Iceland), Tibet 5100 Water Resources Holdings Ltd. (Hong Kong), Mountain Valley Spring Company, LLC (U.S.), Nestle Waters (France), PepsiCo, Inc. (U.S.), Suntory Beverage & Food Ltd (Japan), Unicer - Bebidas SA (Portugal), Grupo Vichy Catalan (Spain) and Hangzhou Wahaha Group Co., Ltd. (China) among others. The scope of the report includes competitive analysis of various market segments based on the product types and in-depth cross sectional analysis of the bottled water market across different geographic segments.
Other Published Reports by Transparency Market Research:
Non-Alcoholic Drinks Market : http://www.transparencymarketresearch.com/non-alcoholic-drinks-market.html
Frozen Food Market: http://www.transparencymarketresearch.com/global-frozen-foods-market.html
The market has been segmented as follows:
Bottled Water Market: Product Analysis
Bottled Water Market: Regional Analysis
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Source:Transparency Market Research