by The global U.S. Bottled Water Market is estimated to be valued at US$ 26067.32 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The U.S. bottled water market comprises companies that produce and distribute bottled drinking water for sale. Bottled water is packaged drinking water that comes from a designated source such as springs, wells, or municipal water supplies. Bottled water companies typically sell spring water, purified water, mineral water, sparkling water, and flavored water. Some key advantages of bottled water include convenience of usage, perceived higher quality compared to tap water, and availability of different flavors and types. With rising health consciousness, many Americans prefer bottled water over carbonated and sugary drinks due to perceived purity and lack of calories. This is a major factor driving the growth of the U.S. bottled water market.
Market key trends:
The U.S. bottled water market is witnessing rising demand for enhanced and functional bottled water varieties. Companies are innovating and introducing bottled water products infused with various vitamins, probiotics, electrolytes, antioxidants, and hydrating ingredients to cater to specific health and nutritional needs. For instance, bottled water enhanced with vitamins C and E are gaining popularity for immunity boosting. Similarly, probiotic-infused waters are sought-after for gut and digestive health. Functional bottled waters marketed for fitness, energy, relaxation and other wellness goals have become mainstream. Sustainable and eco-friendly packaging is another important trend, with companies focusing on lightweight plastics, recyclable materials, and less single-use plastic to reduce environmental footprint.
Porter’s Analysis
Threat of new entrants: The U.S. Bottled Water Market has moderate threat of new entrants due to high capital requirements of establishing bottling plants and distribution networks.
Bargaining power of buyers: There exists moderate bargaining power of buyers in this market as there are numerous established brands for buyers to choose from.
Bargaining power of suppliers: The market has low bargaining power of suppliers since there are many alternative suppliers of raw water and packaging materials available.
Threat of new substitutes: Low threat of substitution exists as bottled water satisfies consumer needs differently than other beverages and tap water.
Competitive rivalry: Intense competition exists among the key players to gain market share.
Key Takeaways
The Global U.S. Bottled Water Market Size is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing health consciousness among consumers and preference for convenience packaging. The bottled water market size for 2023 is estimated at US$ 26067.32 Mn.
Regional analysis indicates that the Western region dominates the U.S. bottled water market currently due to rising disposable incomes and hectic lifestyles of consumers in states like California. The Southern region is anticipated to grow the fastest during the forecast period owing to rising temperatures and awareness about hydration in this region.
Key players operating in the U.S. Bottled Water Market are Nestle Waters, PepsiCo, Inc., The Coca-Cola Company, Groupe Danone, Suntory Beverage & Food Ltd, Mountain Valley Spring Company, LLC, and CG Roxane, LLC. PepsiCo, Inc. and The Coca-Cola Company have been the leading players with their established brands like Aquafina and Dasani, respectively, accounting for major market share. However, private label brands have also been gaining market share over the years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
