New York, Sept. 16, 2021 (GLOBE NEWSWIRE) -- Bottled Water Packaging Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Bottled Water Packaging Market Research Report, Material, Product, Application and Region - Forecast till 2027” the market size is projected to be worth USD 288.51 billion by 2028, registering a CAGR of 7.1% during the forecast period (2021 - 2028)., The market was valued at USD 183.25 billion in 2021.
Key Players
Eminent players profiled in the global bottled water packaging industry report include –
- Amcor Ltd. (Australia)
- SKS Bottle & Packaging Inc. (U.S.)
- Greif Inc. (U.S.)
- Silgan Holdings (U.S.)
- ExoPackaging (India)
- American Pacific Corporation (U.S.)
- Berry Global Inc. (U.S.)
- CKS Packaging (U.S.)
- Sidel Group (Italy) and Kaufman Container (U.S.)., among others.
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The global bottled water packaging market is both fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches and more.
Industry Updates
Kerala has recently got its second public sector bottled water plant with an aim to increase the production and supply of bottled water from the plant with the increase in demand.
COVID-19 Analysis
With the COVID-19 outbreak, several industries have suffered which also includes the bottled water packaging market due to the implemented restrictions to contain the spread. Strict restrictive rules set up by the worldwide governments for fighting the virus outbreak have been creating logistical difficulties for bottled water processing sector. While this has been causing new bottlenecks in the sector, customers prefer stockpiling of essential commodities. This has aided to sustain the demand for bottle water during the COVID-19 crisis. Besides, in the packaging industry, the crisis has interrupted everything as production halted, global trade stopped between several countries, and customers self-isolated in their homes. The packaging market is facing a slowdown that is massively hampering the demand and production in the global bottled water packaging market.
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Drivers
Growing Consumption of Mineral Water to Boost Market Growth
The growing consumption of mineral water will boost market growth over the forecast period. The advances in the processing of mineral water have resulted in an increased consumption across the globe due to its high benefits and positive effects on health. The growing need for mineral water from natural resources stored in good quality bottles is boosting the bottled water packaging market value. As mineral water generally contains elements like calcium, potassium, and magnesium, the popularity of such bottles has gone up with rising consumption.
Opportunities
Rising Need for Functional and Flavored Water to offer Robust Opportunities
Increasing obesity rate that has increased the need for functional and flavored water will offer robust opportunities for the bottled water packaging market over the forecast period. Bottled water companies are offering functional and flavored water increasingly that is increasing in demand for the growing concerns regarding rising obesity levels. Carbonated water can result in heart burn, weight gain, and digestive issues. This has resulted consumers in shifting towards low-calorie flavored water and functional water. Functional water has functional value in the likes of botanicals, vitamins, minerals, and oxygen. Flavored water can be purified or natural mineral water with added flavors.
Restraints
Availability of Substitutes to act as Market Restraint
The availability of substitutes for bottled water packaging in the form of tetra pack water that are biodegradable and recyclable may impede the global bottled water packaging market share over the forecast period.
Challenges
Restrictions against Improper Disposal of Plastic Bottles to act as Market Challenge
Restrictions and campaigns against improper disposal of plastic bottles may act as market challenges over the forecast period.
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Market Segmentation
The bottled water packaging market has been segmented based on application, product, and material.
By material, the plastic segment will lead the market over the forecast period as plastic remains the most utilized material for bottled water packaging for its alluring features like low manufacturing cost, handy, and lightweight.
By product, the mineral water segment will dominate the market over the forecast period as mineral water often includes components like magnesium, calcium, potassium, and other minerals.
By application, the global bottled water packing market is segmented into industrial, municipal, and others.
Regional Analysis
North America to Head Bottled Water Packaging Market
North America will head the bottled water packaging market over the forecast period. Americans consuming more bottled water over carbonated soft drinks and other packaged beverage as per BMC and IBWA, health awareness, higher standard of living, increasing consumption of bottled water, and functional water being a major popular and commercial beverage category in the US and Canada as this being an appealing choice for health-conscious consumers are adding to the global bottled water packaging market growth in the region. Besides, the initiative for waste management systems is plateauing in their ability to increase post-consumer collection of PET bottles. Nestle for instance waters piloting schemes for improving the plastic collection and share what they find in assessing their scale-up and replicability from technical interventions such as reverse vending machines to build an extended producer responsibility system.
Segmentation of Market covered in the research:
Bottled Water Packaging Market, By Material (Plastics, Glass and other), By Product (Well Water, Distilled Water, Mineral Water and Others), By Application (Municipal, Industrial and Others) and Region - Forecast To 2028
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