South America Bottled Water Market - Growth, Trends, and Forecast (2018-2023)
The South America Bottled Water Market is expected to record a CAGR of 9.4% during the forecast period. Bottled water is a reliable way to deliver safe drinking water.
Increased Demand for Premium Bottled Water
South America bottled water market is expected to witness high growth fueled by strong demand for clean, flavored, and hygienic drinking water in South America. The latest trend gaining momentum in this market is increased demand for bottled water with added minerals, vitamins, antioxidants, etc. The consumers are looking for bottled water with added health benefits. Other important factors driving the bottled water market are an advancement in user-friendly packaging. Increasing consumer health awareness and brand consciousness has led to an increase in the demand for premium bottled water. Premium bottled waters differentiate themselves from the typical bottled water through precisely calibrated mineral content, pH levels, purity, and presentation. Also, due to increase in living standards, many people are switching from aerated drinks to functional and flavored water.
Easy availability of tap water and rising concerns with regarding increasing plastic waste is expected to present a challenge for industry participants.
Still Water holds the Largest Share
South America bottled water market is segmented by type into still, carbonated, flavored, and functional bottled water. The still bottled water segment held the most significant share in South America bottled water market and accounted over 60% share in overall consumption in 2017. Carbonated water was the second largest segment of the market. Flavored and functional water segment is expected to register the highest CAGR.
The South American bottled water market demand is driven by countries, like Brazil, Argentina, Peru, and Chile. Brazil and Argentina make most of the demand together for bottled water market in this region. The Brazilian bottled water market is appealing with an increasing number of players every year, primarily due to positive sales. Bottled water launches in Brazil accounted for only 6.3% of all non-alcoholic drink launches. Danone and Nestlé dominate the Brazilian market. The demand for premium bottled water is primarily driving the demand in countries, like Brazil and Argentina.
South America bottled water market is rapidly growing, with few global and a large number of local players with private label bottled water products. The market competition is moderate, and the entrance of new market players is relatively easier as compared to the developed world. The low switching cost of consumers is providing good opportunities for new players to enter the market. New product launch, innovative products packaging, marketing, distribution, and consumer retention, have been a strong business strategy for market growth here.
Major players - CORP LINDLEY SA, DANONE GROUP, GRUPO EDSON DE QUEIRÓZ, IVESS, MILOTUR SA, NESTLE, PEPSICO., POSTOBON SA, PRITTY SA, SAN BENEDETTO, SOGEAM, THE COCA-COLA CO., among others.
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