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Global Bottled Water Packaging Market Analysis 2018 Forecasts to 2023
Market Research Future added New Report Named "Global Bottled Water Packaging Market Research Report- Forecast 2023" to its Database.
Packaging plays a crucial role in protecting food and avoiding unnecessary waste. Moreover, it helps protect the original purity and unique specificities of natural mineral waters, ensuring they remain pure and microbiologically safe. Bottled water is drinking water packaged, generally, in plastic bottles and regulated by national and local agencies. These are used to store ample amount of water and can be easily transported to the required site. Earlier, bottled drinking water was privileged to high class, foreign tourists and highly health conscious people but the present decade has witnessed increasing popularity among average consumers. Factors such as increasing living standards, disposable income, education and awareness among the consumers, sophisticated business houses and offices has increased rapidly the sales of bottled water in recent years. The market is expected to grow at a CAGR of 5.27% over the period 2017 to 2023.
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One of widely used consumer product in the world is bottled water or mineral water. It is available in different sizes and available almost everywhere. In that, PET remains the package of choice for water globally, but glass, and other types of containers are recovering market share due to premium bottled water offerings in North America, Western Europe and Brazil. Moreover, stringent environment regulations imposed by the government due to improper disposal of plastic bottles is likely to curb the bottled water packaging market size over the forecast period.
Rapid economic growth and increase in disposable income, result in changing lifestyle patterns in emerging countries, such as China, India and open new growth opportunities for bottle packaging market over the coming years. Improving disposable income, and rising awareness and changing standard of living have augmented the demand for bottled water packaging products.
A new trend witnessed in the market is research and development carried out by packaging manufacturers with focus on profitable locations for production and short-distance supply to reduce costs. Moreover, innovative design and new packaging solutions have also contributed in improvements in packaging and weight reduction. Some producers are also looking for alternative materials in the production of their new bottles. PET, nonetheless, remains one of the most durable, lightweight and resistant packaging currently available, while being 100% recyclable.
Bottled Water Packaging market is expected to flourish during the forecast period due to the major driving factors such increasing usage of recyclable packaging material to reduce hazardous material in the environment and changing lifestyle of consumers. The bottled water packaging market is undergoing various changes with evolving customer expectations such as availability in small sizes, acceleration of technological innovation and shifts in competitive power. The demand for bottled water is growing due to the scarcity of clean drinking water and the quality of tap water. It has become an icon of healthy lifestyle emerging countries. Moreover, bottled water is convenient because boiling water at home is time-consuming and not energy efficient. Also, bottled mineral water is purified and fortified with dissolved minerals, which provides added health benefits to consumers.
The key players of global bottled water packaging market includes 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.)
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