The global bottled water market is huge, and more significant expansion is forecast for the sector in the next few years.
A report from Grand View Research (GVR) says the world market was worth £157 billion last year, and this figure is expected to soar to £366bn by 2028.
Rising consumer consciousness towards the health benefits of bottled water is projected to drive market growth.
A move towards bottled water rather than ordinary water, particularly among younger consumers, is said to be driving sales.
GVR adds: “In recent years, plain and flavoured varieties of still and sparkling water have become widely-popular beverages at the global level.
“This is an emerging megatrend, and is foreseen to remain prevalent in the coming years.
“With increasing health consciousness, consumers are opting for packaged water and reducing the consumption of sugary drinks.
“The consumption of still bottled water has increased in food outlets and restaurants, which is boosting the market growth.”
Widespread home isolation orders around the world due to Covid-19 have spurred demand for bottled water among households.
The purified water segment held the largest share of more than 35% in 2020.
According to a United Nations study, nearly 16,000 desalination plants in 177 countries provide purified water.
Growing water needs due to population growth, increased per capita water consumption, urbanisation, economic development, and falling water supplies due to climate change and contamination exacerbate water scarcity in most regions of the world.
The demand for ultra-purified water derived from desalination technology is anticipated to grow to tackle these concerns.
Asia Pacific held the largest share of more than 42% in the bottled water market in 2020 and is expected to maintain its lead in the next few years on account of the growing preference for bottled water due to rising health issues caused by contaminated water consumption.
Sparkling water is anticipated to be the fastest-growing segment in the bottled water market in coming years, riding on growing demand from developed markets of the US, France, Canada, Germany and the UK.