The global premium bottled water market size reached USD 20.71 billion in 2023 and is expected to surpass around USD 40.89 billion by 2033, expanding at a CAGR of 7.04% from 2024 to 2033.
Premium Bottled Water Market Key Points
- Europe dominated the global premium bottled water market with the major revenue share of 35% in 2023.
- Asia Pacific is projected to grow at the fastest rate with an exceptional CAGR during the forecast period 2024 to 2033.
- By product, the mineral water segment accounted for the largest revenue share of 43% in 2023.
- By product, the sparkling water segment is expected to grow at the fastest rate in the market during the forecast period.
- By distribution, the supermarkets & hypermarkets segment has held the largest revenue share of 38% in 2023.
- By distribution, the online segment is projected to register the fastest growth in the market during the forecast period 2024 to 2033.
The premium bottled water market has experienced robust growth in recent years, driven by increasing consumer awareness of health and wellness benefits associated with hydration. This segment includes various products such as mineral water, spring water, and artesian water, distinguished by their source purity, mineral content, and packaging aesthetics. Consumers perceive premium bottled water as offering superior quality and purity compared to regular bottled water, often willing to pay a premium for perceived health benefits and environmentally friendly packaging solutions.
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Growth Factors
Several key factors contribute to the growth of the premium bottled water market. Firstly, heightened health consciousness among consumers has driven demand for beverages perceived as healthier alternatives to sugary drinks. Secondly, urbanization and changing lifestyles have increased the demand for convenient, on-the-go hydration solutions, where premium bottled water fits well. Moreover, advancements in packaging technology and sustainability practices have enhanced product appeal, aligning with environmentally conscious consumer preferences. Additionally, rising disposable incomes globally have enabled consumers to prioritize premium products, including bottled water perceived as offering superior taste and health benefits.
Regional Insights
North America
North America represents a significant market for premium bottled water, driven by a strong consumer base focused on health and wellness. The United States, in particular, leads with a preference for high-quality bottled water products, supported by stringent regulations ensuring water purity and safety. The region also sees a trend towards sustainable packaging solutions, reflecting consumer preferences for eco-friendly products.
Europe
In Europe, the premium bottled water market is characterized by a preference for natural mineral and spring waters sourced from renowned springs. Countries such as Germany, France, and Italy have a long-standing tradition of consuming bottled water, with premium brands emphasizing purity and mineral content. The region’s strict regulatory environment further supports the premium segment’s adherence to high-quality standards.
Asia-Pacific
The Asia-Pacific region has emerged as a dynamic market for premium bottled water, fueled by increasing urbanization and rising disposable incomes. Countries like China, Japan, and India show significant demand growth, driven by concerns over tap water quality and a growing preference for healthier lifestyle choices. Market expansion is also supported by improvements in retail infrastructure and distribution channels.
Premium Bottled Water Market Scope
| Report Coverage | Details |
| Market Size by 2033 | USD 40.89 Billion |
| Market Size in 2023 | USD 20.71 Billion |
| Market Size in 2024 | USD 22.17 Billion |
| Market Growth Rate from 2024 to 2033 | CAGR of 7.04% |
| Largest Market | Europe |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Product, Distribution, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Premium Bottled Water Market Dynamics
Market Drivers
Several factors propel the growth of the premium bottled water market. These include increasing consumer awareness of the health benefits of hydration, convenience of portable water solutions, effective branding and premium positioning strategies, technological advancements in bottling and packaging, and the growing popularity of e-commerce platforms for product accessibility.
Opportunities
Opportunities in the premium bottled water market include product diversification through new flavors and functional enhancements, expansion into emerging markets with rising disposable incomes, adoption of sustainable practices to appeal to environmentally conscious consumers, personalized marketing strategies to enhance consumer engagement, and strategic collaborations with health and wellness influencers.
Challenges
Challenges facing the premium bottled water market include environmental concerns over plastic waste and carbon footprints, competition from alternative hydration solutions like tap water and filtration systems, navigating stringent regulatory landscapes regarding water quality and packaging, potential impacts of economic downturns on consumer spending, and vulnerabilities in the supply chain due to geopolitical tensions or natural disasters.
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Premium Bottled Water Market Companies
- Bling H20
- Roiwater
- Beverly Hills Drink Company
- NEVAS GmbH
- Lofoten Arctic Water AS
- VEEN
- Uisge Source
- Berg Water
- BLVD Water
- Alpine Glacier Water Inc.
- Minus 181 GmbH.
Recent Developments
- In September 2023, Clear Premium Water announced the launch of their natural mineral water brand named ‘NubyClear’ (NU) in India. The product is sourced from the Himalayas and aims to cater to the elite customer segment, promoting a healthier lifestyle.
- In March 2024, JM Financial Private Equity announced an investment of 45 crore INR rupees in Energy Beverages Private Limited. The investment aims to expand the brand image.
- In September 2023, Icelandic Glacial announced a new investment, shareholder structure, and operational expansion with support from Iceland Star Property Ltd and Blackrock’s U.S. Private Credit team.
- In December 2022, Nestle announced an investment of $107 Million in low-carbon logistics for their three water brands: S.Pellegrino, Acqua Panna, and Perrier.
- In August 2022, PepsiCo Inc. announced an agreement with a premium water brand named Aqua Carpatica. The strategic investment deals with distribution rights for Poland and Romania to expand their business.
Segments Covered in the Report
By Product
- Spring Water
- Sparkling Water
- Mineral Water
- Others
By Distribution
- Supermarkets & Hypermarkets
- Speciality Stores
- Online
- Others
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
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