(Food-Beverage-News.Com, October 10, 2018 ) Bottled water companies are involved in purifying and bottling water, and then marketing and distributing it for commercial and personal use. End users for bottled water group constitute both on-trade and off-trade consumption that include institutional and retail customers. Retail customer can purchase bottled water from different retail or food service formats. Institutional customers such as restaurants, offices and hotels purchase bottled water from wholesalers or distributors.
TBRC’s report covers information on the various segments of the market, such as premium bottled water, packaged drinking water, sparkling water, functional water, etc.
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The bottled water consumption market grew at a compound annual growth rate (CAGR) of 9% from 2013 to 2017. This rapid growth was attributed to factors which include increasing health hazards of untreated water, rapid industrialization and rising disposable income, consumer concerns which had a positive impact on the bottled water market, and other such factors mentioned in the report. This market is forecast to grow at a CAGR of 9.5% by 2021.
The bottled water market in Asia-Pacific is the largest in the world by volume, accounting for 42.5% of the global bottled water consumption, and second largest in the world in terms of value. The bottled water consumption in Asia-Pacific grew at a CAGR of 10.6% in the historic period and is expected to grow at a CAGR of 12.4% in the forecast period. The bottled water market in Asia-Pacific grew at a CAGR of 12.9% in the
historic period and is expected to grow at a CAGR of 13.7% in the forecast period.
Contamination of surface and ground water sources due to inappropriate garbage disposal has lead consumers to distrust tap water due to a rise in water borne diseases. This has led to an increase in the consumption of bottled water in Asia Pacific countries. In addition to this, shift in consumers’ preference from carbonates and juices towards bottled waters as rising health conscious, this will help bottled water market grow further during forecast period.
China was the largest country in the consumption of bottled water, with a 50.5% share of the market. It also had the highest CAGR (compound annual growth rate) of 11.5% during 2013 – 2017; this country is expected to grow at the same CAGR of during 2017 – 2021.
Japan had the lowest CAGR of just 1% during 2013 – 2017; this country is expected to grow at a CAGR of 1.5% during 2017 – 2021.
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