Regionally, the global bottled water packaging market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific region is projected to hold the largest market share by the end of 2033. The growth of the market can be accounted to the growing population and an increment in the government initiatives to the prevention of diseases spreading by consuming contaminated water such as cholera, diarrhea, hepatitis A and others. For instance, approximately 16 thousand cases of hepatitis A were diagnosed solely in the South Korea in 2019. Moreover, growing inclination toward the purification of water and increasing disposable income are further expected to hike the growth of the market in the region during the forecast period.
The global bottled water packaging market is further classified on the basis of region as follows:
Growing Prevalence of Diarrhea to Boost the Market Growth - As of 2019, nearly 8% of all deaths of children below 5 were caused by diarrhea across the globe.
Diarrhea can be a serious medical problem if it isn’t treated properly at the right time. When suffering from diarrhea a person suffers from watery stool and can be associated with abdominal pain, vomiting, nausea, and others. The major cause of diarrhea is the penetration of parasites via contaminated food and water. Hence, a demand for purified water emerges and estimated to flourish the market growth over the forecast period.
Rising Sales of Bottled Water - For instance, in 2022, the average volume of bottled water per person was estimated to be about 15 liters in India alone.
Significant Growth in the Global Tourism - The total number of international tourist arrivals was estimated to be around 450 million in 2022.
Increasing Production of Bottles - It is estimated that approximately 80 billion water bottles are produced every year globally.
The global bottled water packaging market is segmented and analyzed for demand and supply by bottle water type into carbonated, still, flavored, and functional bottle water, out of which, the carbonated segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the spiking consumption and distribution of sparkling water. For instance, in 2018, the total sales of sparkling water dropped to around USD 350 million and estimated to reach approximately USD 500 million in 2022.
Our in-depth analysis of the global bottled water packaging market includes the following segments:
Bottle Water Type
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Growing prevalence of diarrhea and rising sales of bottled water is estimated to majorly boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2023 – 2033.
Ans: Disrupted supply-chain due to COVID-19 and requirement for higher initial investment is estimated to challenge the market growth.
Ans: The market in Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Berry Global Inc., Aqua Amore Limited, Plastipak Holdings, Ins., Graham Packaging Company, Silgan Holdings Inc., RPC Group Ltd, Alpha Group, Greiner Packaging GmbH, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by water type, material type, and by region.
Ans: The carbonated segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.