Insights into the worldwide water business, including sales, production, and consumption, may be gained from water bottled figures for 2022. These figures are used to increase the effectiveness of water bottle manufacturing, shipping, and marketing and inform consumers about bottled water’s environmental effects.
Water sold in retail establishments packed in single-serve plastic bottles is often called bottled water. It usually comes from several places, including springs, rivers, lakes, and municipal water systems. Bottled water is a popular option for many people because it is portable, convenient, and tastes better than tap water.
This article will discuss various bottled water statistics from numerous sources.
Bottled Water Facts 2022-2023
The bottled water segment is one of the largest segments in the beverage industry, with revenues of US$302.50 billion in 2022. This amount is anticipated to increase between 2022 and 2027 at a compound annual growth rate (CAGR) of 6.78%. The US contributes the most in revenue, accounting for nearly US$83.02 billion.
The average cost of bottled water per person in the US was US$39.74. Out-of-home use of bottled water is anticipated to account for 34% of expenditure and 8% of volume in the market by 2027. There will likely be 514,973.3ML of bottled water in circulation worldwide IN 2023, a remarkable increase of 6.3% over the previous year. On a per-person basis, people are expected to consume an average of 58.68L of bottled water by 2022.
Grand View Research Results
A compound annual growth rate (CAGR) of 6.7% is predicted for the worldwide bottled water market in 2022. Increased demand for bottled water will result in higher product sales as worries about water pollution and water scarcity spread across different locations. By 2030, it is anticipated that the US bottled water industry will be worth USD 49.6 billion.
The availability of new bottles made of 100% aluminum and plastic recovered from the ocean will increase the demand for bottled water. Increasing restrictions due to the COVID-19 pandemic have caused logistical challenges for the bottled water industry. However, in 2020, bottled water businesses increased their production capacities to meet the surge in demand.
The bottled water industry is predicted to rise dramatically over the next five years, from US$228.84 billion in 2022 to US$322.85 billion by 2028.
In 2021, bottled water still accounted for the majority of sales, with flavored bottled water projected to rise at the quickest rate. North America was the second-largest market after Asia-Pacific for bottled water.
Insight Partners Results
The research shows the worldwide bottled water market is anticipated to increase at a CAGR of 5.9% from US$ 228.84 billion in 2022 to US$ 322.85 billion by 2028. The rise in health-conscious customers, the switch from carbonated soft drinks to bottled waters, and the surge in demand for sparkling and flavored water in nations like China and India are a few reasons for this trend.
Asia Pacific dominated the worldwide bottled water market in 2021, and it is anticipated that it will hold that position throughout the forecast period.
Proficient Market Insights
Proficient Market Insights’ report projected that the global market for bottled water will rise at a CAGR of 5.4% from 2022 to 2028, reaching USD 394.2 billion. This expansion is due to growing health consciousness, increased disposable income, and rising convenience demand.
Regarding geography, 34.2% of the market was anticipated to be held by Europe in 2022. During the forecast period, the market for bottled water was anticipated to develop at the quickest rate in the Asia Pacific region.
Over the projected period (2022-2027), the worldwide bottled water market is anticipated to develop rapidly with a CAGR of 6.2%. This is attributable to several elements, including manufacturers’ steps to assist market expansion even during the COVID-19 epidemic.
In the early stages of the worldwide pandemic, demand for bottled water initially increased due to customers stockpiling in expectation of lockdown and shortages. However, the tourist industry’s revenue slowdown contributed to the trend’s rapid collapse.
Market Watch Results
The greatest market for bottled water was in Asia-Pacific, which accounts for 33% of the worldwide market. Europe and North America were the next two largest markets. The region’s dense population, strong demand, undiscovered markets, and quick urbanization contribute to its rise. The Middle East, Africa, Central, and South America are anticipated to see the highest growth rates in the upcoming years.
Fact. MR Results
The global market for bottled water has grown steadily in recent years. It was expected to be worth US$ 301.7 billion in 2021. The estimated CAGR from 2022 to 2032 is 5.5%, reaching US$ 543.69 billion.
The demand for bottled water increased at a CAGR of around 2.5% from 2017 to 2021. This demand mostly came from developed global north nations like the US, Canada, Germany, and the UK, which account for a sizeable percentage of the worldwide market.
The global bottled water market has shown remarkable growth over the past few years, with the market size reaching US$ 237.6 Billion in 2022. the market is expected to reach US$ 364.4 Billion by 2028, exhibiting a CAGR of 7.3% during 2023-2028.
Allied Market Research Results
The bottled water market is rapidly growing, and the global market value is expected to reach over $500 billion by 2031. This is a significant increase from 2021 figures, where the market was valued at $301.7 billion. The Asia-Pacific region is expected to be the fastest-growing region, growing at a CAGR of 7.0% from 2022 to 2031.
RESEARCH AND MARKETS Results
During the projection period, the global bottled water market was expected to grow at a 6.2% CAGR (2022 – 2027).
The demand for bottled water will continue to increase. This is mainly due to the increasing demand for convenient and hygienic drinking water, consumer health consciousness, rising disposable incomes, and growing urbanization.