Global Bottled Water Packaging Market - Segmented by Material (Plastic, Metal, Glass), and Region - Growth, Trends and Forecast (2018 - 2023)
The bottled water packaging market is expected to witness a CAGR of 6.86% over the forecast period of 2018–2023. The report considers various materials used for bottle packaging and the type of packaging solutions. The regions examined in the report include North America, Europe, and others. The study also identifies, how raising awareness regarding the benefits of consuming safe water is affecting the market.
Over the years, since the advent of materials such as polymers, the concept of water in sealed cans and bottles has become mainstream and has evolved at a fast pace. While initially, it was intended for small-scale use, the commercialization of bottled water and the followed surge of locally made imitation products caused an explosion in the demand and distribution of bottled water. Researchers have come up with innovative ways to seal in carbonated water. Besides, bottle manufacturers are also investing in advertising & marketing campaigns to gain an extended customer base and eventually capture high industry share. Bottle packaging also makes it convenient for transportation of water over greater distances. Moreover, the frequent use of bottled water by tourists and travelers around the world is expected to drive the bottled water packaging market.
Awareness About the Benefits of Consuming Safe Water Driving the Market
Bottled water is considered as a safer option over tap water. Growth in waterborne diseases specifically, in rural areas are contributing towards increasing demand for bottled water packaging. Moreover, to avoid ill-health conditions, regions having unpotable water supply are shifting toward canned water bottle supply. Presently, with more than 700 million people across 43 countries suffering from water scarcity and the sustained rise in wastewater generation, the demand for safe water has surged. Also, growth in the consumption of clean packaged drinking water, due to increased health consciousness in the majorly populated countries is further expected to drive the demand.
Plastic Packaging to Dominate the Market
Plastic packaging has become ubiquitous across the globe owing to its significant features over other forms of packaging. With its ability to meet diverse packaging needs, from electronic components to shelf-able packaging for food and beverages. Consumer preference for plastic packaging in the bottled water industry has been observed over other products, as plastic packages are lightweight and easier to handle. Also, the key manufacturers prefer to use plastic packaging solutions, as the cost of production is significantly lower. In addition, technological advancements have led to the advent of eco-friendly and bio-degradable plastics. Furthermore, a significant amount of plastic products are being recycled and reused in the recent years, making plastic a sustainable option.
Asia-Pacific is the Largest Market due to Huge Population Base
The rising population and growth in purchasing power of consumers in developing countries of the Asia-Pacific, like India and China, is anticipated to stimulate the growth during the forecast period. Moreover, the region also boasts the presence of a significant number of players, which is another factor expected to act as a driver. The growing influx of tourists in countries, such as China and Thailand, which witnessed 59 million and 32.6 million tourists in 2016, is expected to drive the demand for bottled water packaging.
Key Developments in the Market
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