by The U.S. bottled water market has been growing significantly over the years owing to the rising health consciousness among consumers. Bottled water is preferred over sugary drinks due to the various health benefits associated with it such as zero calories and rich in minerals. Bottled water comes in various packaging types including PET bottles, glass bottles, and stand-up pouches which help consumers stay hydrated anytime and anywhere.
The U.S. Bottled Water Market is estimated to be valued at US$ 30029.56 Bn in 2024 and is expected to exhibit a CAGR of 10 % over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the U.S. bottled water market are Amgen, Gilead Sciences, Biogen, Pfizer, Novartis, Roche, Johnson & Johnson, Sanofi, Merck & Co., AbbVie, GlaxoSmithKline, AstraZeneca, Eli Lilly, Novo Nordisk, Bayer, Bristol-Myers Squibb, Teva Pharmaceutical, Takeda Pharmaceutical, Boehringer Ingelheim, Astellas Pharma. The key players are involved in expanding their product portfolio as well as geographical presence to strengthening their market position.
The rising health awareness has boosted the demand for low-calorie and healthy beverage options in the country. The availability of U.S. Bottled Water Market Size in recyclable and lightweight packaging is driving the market. Furthermore, increasing per capita disposable income allows customers to spend more on premium bottled water products.
The U.S. bottled water market has high growth potential in the retail sector including supermarkets, small grocery stores, commercial buildings, restaurants, and online retailing. The e-commerce platforms provide easy availability and bulk purchasing options to consumers. Additionally, the bottled water companies are focusing on expanding their global footprints through collaborations and partnerships with international players.
Market drivers
The increasing consumption of bottled water, especially among health-conscious millennials and generation Z, is a major growth driver for the market. The rising adoption of on-the-go consumption trend where bottled water satisfies the immediate hydration needs of consumers on the move. Moreover, aggressive promotional activities by key players to promote their product portfolio as well as educate people about the health benefits of drinking bottled water aids the market growth.
PEST Analysis
Political: The U.S. Bottled Water Market Size is regulated by the Food and Drug Administration (FDA). Any changes in the regulatory policies concerning the processing, packaging and labelling of bottled water products can impact the market.
Economic: As disposable incomes rise across regions in the US, the willingness to pay higher prices for bottled and purified water is increasing. However, an economic slowdown can reduce the consumption of bottled water.
Social: Changing lifestyles and health consciousness are driving the adoption of bottled water. The demand is strong among health-savvy consumers and outdoor enthusiasts. However, issues around plastic waste and environmental impact pose challenges.
Technological: Advanced water treatment technologies help companies produce purified varieties of bottled water. The use of lightweight plastic bottles and different packaging formats also aid in expanding the market reach. Blockchain integration can enhance supply chain traceability.
The western region accounts for the largest share of the US bottled water market in terms of value. States such as California, Washington and Colorado have high consumption levels driven byactive lifestyles, health awareness and environmentally-conscious attitudes.
The southern region is witnessing the fastest growth in the US bottled water market. States including Texas, Florida and Georgia are experiencing rising demand attributable to factors like increased outdoor activities, growing population and hot weather conditions that drive hydration needs.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
