The U.S. Bottled Water Market Growth Accelerated by Increasing Health Awareness

 

Bottled water has gained immense popularity owing to its convenience of usage and perceived health benefits over tap water. Bottled water is considered safe for drinking and contains minerals that are good for health. With increasing health consciousness among consumers, bottled water has become the preferred choice for daily consumption.

The U.S. Bottled Water Market is estimated to be valued at US$ 26,067.32 million in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Innovation has been one of the major trends in the U.S. bottled water market. Manufacturers are introducing innovative packaging such as recyclable plastic bottles and aluminum cans to make their products more environment-friendly without compromising on convenience. They are also coming up with flavored and functional bottled water options with added nutrients and minerals to cater to the evolving tastes of consumers and tap into the health and wellness segment. Rapid urbanization and hectic lifestyle have boosted the demand for convenient packaging, driving the sales of single-serve bottled water.

Segment Analysis

The U.S. Bottled water market is dominated by still water segment. Still water accounted for more than 85% of the total bottled water market in 2020. Still water has gained immense popularity among health conscious consumers who prefer drinking plain water over sweetened drinks. The demand for still water has grown significantly over the years due to awareness about its health benefits.

Key Takeaways

The U.S. Bottled Water Market Size is expected to witness high growth over the forecast period driven by rising health consciousness among consumers. The U.S. Bottled Water Market is estimated to be valued at US$ 26,067.32 million in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.

Regional analysis:

The western region dominates the U.S. bottled water market with over 30% market share. States like California and Texas having hot climatic conditions drive higher consumption of bottled water in this region. The northeast region is the second largest market for bottled water due to rising disposable income of consumers which has increased consumption of premium bottled water brands. The midwestern region is expected to be the fastest growing market over the forecast period led by increasing product promotions and brand awareness campaigns run by key players in this region.

Key players:
Key players operating in the U.S. bottled water market are Nestle Waters, PepsiCo, The Coca-Cola Company, Keurig Dr Pepper Inc, Tibet Water Resources. Nestle Waters is the market leader with its popular brands like Poland Spring and Deer Park. PepsiCo also has a strong presence through its Aquafina brand. The Coca-Cola Company offers various brands like Dasani and smartwater. Keurig Dr Pepper markets various bottled water brands it acquired such as Core and Poland Spring. Tibet Water Resources is a leading premium bottled water brand in the U.S. market.

For More Insights, Read: https://www.newswirestats.com/u-s-bottled-water-market-trends-growth-and-regional-outlook-2023-2030/

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