by Bottled water is packaged drinking water commonly available in polyethylene terephthalate (PET) and glass bottles. Bottled water products have gained immense popularity among consumers due to its health advantages over other carbonated beverages and sodas. It is considered as a better alternative for staying hydrated.
The U.S. Bottled Water Market Size is estimated to be valued at US$ 30029.56 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing health consciousness among US consumers regarding the consumption of clean and contaminant-free bottled water has been a key factor propelling the demand over the past few years. Bottled water has gained preference over regular tap water owing to purity and absence of contaminants. Further, bottling companies promote bottled water products as a more convenient and hygienic packaging solution compared to other beverage options. Extensive promotional campaigns have significantly boosted adoption. Moreover, emergence of functional bottled water infused with minerals, vitamins and other nutritional ingredients is gaining traction due to associated health benefits, thus supporting market growth over the forecast period.
SWOT Analysis
Strength: The U.S. bottled water market benefits from an increasing consumer preference for healthier beverage options.bottled water provides a portable and convenient packaging format.
Weakness: Bottled water has lower profit margins than carbonated soft drinks or other beverages. It also faces environmental concerns related to plastic waste generation.
Opportunity: Growth opportunities exist in innovative product lines with functional ingredients and in eco-friendly packaging materials. Emerging trends around sustainability also allow opportunities to promote more environment-friendly bottled water options.
Threats: Strict regulations around groundwater extraction and plastic waste management can increase production costs. Changing weather patterns may threaten the availability of water resources.
Key Takeaways
The U.S. bottled water market is expected to witness high growth over the forecast period. Increasing health awareness, portability and convenience are major factors driving demand. The U.S. Bottled Water Market is estimated to be valued at US$ 30029.56 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Regional analysis: The Western United States dominates the bottled water market currently. States like California account for the highest consumption due to hot and dry climates. Meanwhile the Northeast region is also growing rapidly fueled by rising health consciousness among consumers.
Key players: 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. They are focused on innovative packaging and formulation development to strengthen their market position.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
