The beverage industry is growing at a compound annual growth rate of 1.7% . The global beverage industry is expected to grow at a CAGR of 1.7% between 2021 and 2026. At this rate, the market will be valued at more than $1.691 billion by the end of 2026.
Why is bottled water more popular?
Bottled water is marketed as convenient, better tasting than tap water, and a healthier, pure alternative to sugar- sweetened drinks . In countries with reliable clean tap water, bottled water often receives bad press, including calls for its ban.
Why is there a demand for bottled water?
Clean drinking water provides essential nutrients to body, improves digestion, regulates the body’s chemistry, and helps maintain an average body temperature. Thus, the demand for bottled water to access safe drinking water is expected to rise in the coming years as the quality of tap water deteriorates.
What is the future of bottled water industry?
Global Bottled Water Market is projected to register a CAGR of 6.2% during the forecast period (2022 – 2027) . The demand for bottled water rose in the initial months of lockdown stemmed from the stockpiling attitude of consumers in anticipation of lockdowns and scarcity.
What is the fastest growing segment of the beverage industry?
Bottled Water Is The Fastest Growing Segment Of The Beverage Industry.
How big is the drinks industry?
How big is the alcohol industry? The Institute of Alcohol Studies has estimated that the production and sale of alcohol was worth £46 billion to the UK economy in 2014 , accounting for 2.5% of Gross Domestic Product and 3.7% of all consumer spending.
Why do people prefer plastic water bottles?
Reason #1: Convenience
Above all, convenience is the number one cited reason why individuals choose bottled water as their beverage of choice. It’s easy to drink and a great way to stay hydrated while on the go. Instead of having to bring their own reusable bottled, they can use bottled to stay hydrated and feel good.
How big is the bottled water industry?
The segment of still bottled water has dominance in terms of both revenue and volume in the global market. The segment is expected to account for a share of 78% of overall market revenue by 2022. The flavored water segment is expected to witness rapid growth during the forecast period. PepsiCo Inc.
Are bottled water sales increasing?
That means, on average, each American drank 45.2 gallons of bottled water in 2020, a 3.5 percent increase over the previous year. In addition, bottled water’s retail dollar sales grew in 2020, up 4.7 percent, reaching $36.3 billion , BMC data show.
How profitable is a water bottle business?
A bottled water plant is profitable provided; there is a strategic business plan in place. The average profit margin ranges between 25-30% for small and medium-scale water plants . It can be as high as 60% for large bottle production and as low as 15% for small bottles.
What is the target market for bottled water?
Health-Conscious Consumer
Certain other people like athletes, people living in rural areas, children, the elderly and those with health conditions like upper respiratory illnesses are also a market segment for bottled water for health reasons. Some consumers especially want bottled mineral water.
How much is the bottled water industry worth 2020?
Revenue from the sales of bottled water amounts to $61.326 million in 2020 so far. The market is expected to grow annually by 10.9 percent ( 2020-2023, CAGR).
How competitive is the beverage industry?
The beverage industry is highly competitive . The principal areas of competition are pricing, packaging, development of new products and flavors and marketing campaigns.
How do you grow a beverage brand?
- Make sure that the product is scalable. ...
- Make sure that your packaging actually works. ...
- Make the branding clear and understandable. ...
- Test the product with your target market demographic.
What is the fastest growing energy drink?
Launched less than a year ago by a mix of entrepreneurs, investors, fitness industry veterans, and celebrity Dwayne Johnson, ZOA Energy claims it has quickly become the fastest-growing energy drink and #2 brand in the healthy energy drinks category (per IRI data).
How is the beverage industry doing?
As of 2018, the global beverage industry was valued at $1.5 trillion and is estimated to grow to $1.8 trillion at a 3.1% CAGR by 2024 . The industry’s growth is attributed to the growing consumption of both alcoholic and non-alcoholic drinks and changing consumer preferences for healthier options.
How competitive is the alcoholic beverage industry?
The industry is characterized by mergers and acquisitions among the top players, making it highly competitive across the globe .
Why is the alcohol industry growing?
The growth of the global alcoholic beverages market is driven by increase in global young–adult demographic, surge in disposable income, and rise in consumer demand for premium/super premium products .
What are the benefits of bottled water?
- Convenient on-the-go hydration solution. Everyone needs to drink a certain amount of water every day to stay hydrated and healthy. ...
- Can easily be stored. Water is vital for survival. ...
- Great taste and added nutrients. ...
- Free of impurities.
What is bottled water industry?
The Bottled Water Production industry in Canada focuses on bottling single-serve water products, single-serve sparkling water products, bulk water and manufactured ice for retail sale . Industry revenue has improved over the five years to 2021 due to increased consumer interest in purchasing bottled water.
