Product Analysis:
Still Water: Still water continues to dominate the bottled water market with the highest market share. Its natural and pure form appeals to a wide range of consumers looking for hydration without any added flavors or carbonation.
Sparkling Water: Sparkling water has witnessed a surge in popularity in recent years due to its perceived health benefits and variety of flavors available in the market. This segment is expected to show steady growth in the coming years.
Functional Water: Functional water, infused with vitamins, minerals, or other health benefits, is gaining traction among health-conscious consumers looking for more than just hydration in their bottled water. This segment is expected to see robust growth in the near future.
Packaging Analysis:
PET: PET bottles are the most commonly used packaging material for bottled water due to their lightweight, convenience, and recyclability. PET packaging is expected to maintain its dominance in the bottled water market.
Cans: Cans are emerging as a popular packaging option for bottled water, especially in the sparkling water segment. The perception of cans being more eco-friendly than plastic bottles is driving their adoption among environmentally conscious consumers.
Distribution Channel Analysis:
On-trade: On-trade distribution channels, including restaurants, cafes, and bars, play a significant role in the bottled water market, offering convenience to consumers looking to enjoy bottled water while dining out. This channel is expected to remain an important sales channel for bottled water.
Off-trade: Off-trade distribution channels, such as supermarkets, convenience stores, and online retail, are major contributors to the bottled water market, providing a wide reach to consumers for purchasing bottled water for home consumption. This channel is expected to witness continued growth in the future.