DUBLIN, Jan. 30, 2024 /PRNewswire/ — The “Bottled Water Packaging Market – Forecasts from 2023 to 2028” report has been added to ResearchAndMarkets.com’s offering.
The bottled water packaging market is expected to grow at a CAGR of 2.84% from US$274.13 billion in 2021 to US$333.578 billion in 2028.
The demand for bottled water packaging is driven by the growing consumer preference for convenient, portable, and safe hydration options. Factors such as increasing health consciousness, on-the-go lifestyles, and the need for reliable water sources contribute to the growth of the bottled water packaging market.
Key Market Drivers:
Increasing Health Consciousness:
The growing awareness of the importance of hydration and the health benefits of drinking water drives the demand for bottled water, leading to a need for suitable packaging solutions.
Convenience and Portability:
Bottled water provides a convenient and portable source of hydration, catering to the needs of on-the-go consumers. The packaging plays a crucial role in ensuring ease of use and portability.
On-the-Go Lifestyles:
Busy lifestyles travel, and outdoor activities require accessible and ready-to-drink water options. Bottled water packaging offers convenience and fits well with the fast-paced lifestyles of consumers.
Safety and Hygiene:
Bottled water packaging provides a protective barrier, ensuring the safety and hygiene of the product. Consumers trust sealed and properly packaged bottled water for its purity and reliability.
Retail and Vending Machine Distribution:
Bottled water is widely available in retail stores, vending machines, and convenience outlets, creating a robust distribution channel that requires suitable packaging to meet consumer demands.
Increased Disposable Income:
As disposable income levels rise, consumers have more purchasing power and are willing to spend on convenient and healthy hydration options like bottled water, driving the market growth.
Urbanization and Infrastructure Development:
Urban areas with growing populations and infrastructure development contribute to the demand for packaged water, as access to clean drinking water may be limited or unreliable.
Marketing:
Effective marketing strategies and efforts by bottled water companies influence consumer preferences and choices. Attractive packaging plays a significant role in attracting consumers and building product loyalty.
Environmental Concerns and Sustainability:
The emphasis on sustainable packaging solutions is growing, and bottled water companies are increasingly adopting eco-friendly materials and promoting recycling efforts to address environmental concerns.
Changing Beverage Consumption Patterns:
Shifts in beverage consumption habits, including a preference for healthier options like water over sugary drinks, contribute to the increased demand for bottled water packaging.
Positive growth in the sustainable packaging segment:
The segment of the bottled water packaging market that is experiencing significant growth is the eco-friendly and sustainable packaging segment. With increasing consumer awareness and concerns about environmental impact, there is a growing demand for bottled water packaged in materials such as recycled plastic, biodegradable materials, or alternative packaging options like cartons. This trend is driven by consumers’ desire to make environmentally conscious choices and the efforts of bottled water companies to reduce their carbon footprint and promote sustainability. The eco-friendly packaging segment is expected to continue its positive growth trajectory as sustainability becomes an integral part of consumer purchasing decisions.
The Asia-Pacific region is expected to hold a significant share:
The Asia-Pacific region is expected to dominate the bottled water packaging market share. This can be attributed to several factors, including the large population base, rising disposable income, urbanization, and increasing health consciousness among consumers in countries like China and India. The region is witnessing a significant shift in consumer preferences towards packaged water due to concerns over water quality and safety. Additionally, the growing influence of Western lifestyles and the convenience-driven culture contribute to the demand for bottled water packaging. These factors position the Asia-Pacific region as a key player in the bottled water packaging market.
Key Segments:
By Product Type
Still Bottled Water
Carbonated Bottle Water
Flavored Bottle Water
Functional Bottle Water
By Material Type
Plastic
Aluminum
Glass
Companies Profiled
Alpack Packaging
Alpha Packaging
Amcor Limited
Ball Corporation
Graham Packaging Company
Greif Inc.
Plastipak Holdings Inc.
Sidel International
Silgan Holdings Inc.
Tetra Pak International SA
For more information about this report visit https://www.researchandmarkets.com/r/fiwjt5
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SOURCE Research and Markets
