Consumers in the US are privy to the fact that drinking potable water isn’t enough to safeguard one’s health from viral diseases and water-borne infections. Consumption of bottled water in the States is expected to be driven by rising awareness regarding the benefits of drinking mineral water. Higher nutritional content in bottled or packaged drinking water continues to play a significant role in protecting lives of millions of US consumers. Nevertheless, a latest research report published by Persistence Market Research projects that years from now, the demand for bottled water in US will lose traction and incur growth at a sluggish pace. According to its report, Persistence Market Research predicts that by the end of 2024, the US bottled water market will have reached US$ 22,226.2 Mn value, registering a modest CAGR of 4%.
A riveting factor compiled in this report mentions the emergence of eco-friendly packaging materials in production of bottled water. The US bottled water market is slated to incur opportune growth when manufacturers will begin procurement of eco-friendly yet equally competent alternatives for plastic bottles. This will be done by rapid adoption of 100% recycled PET bottles. Nestle Waters is one such leading manufacturer of bottled water in the US that has undertaken similar measures. Other prominent manufacturers of bottled water in the US include PepsiCo, Inc., The Coca-Cola Company, Mountain Valley Spring Company, LLC., Groupe Danone, Suntory Beverage & Food Ltd., and CG Roxane, LLC.
The report further reveals that in 2016, over 10,000 million units of bottled water products were consumed in the US. The demand for 3-gallon bottled water products is projected to remain high through 2024. Almost two-third of the US bottled water market will continue to be dominated by HDPE materials as PET bottles are likely to lose out competitiveness due to strict environmental regulations. By the end of 2024, nearly three-fourth of revenues amassed in the US bottled water market are anticipated to come from sales of products with screw caps and Snap-On caps. The report also identifies supermarkets as the largest distribution channel for bottled water in the US, accounting for over 35% value share towards the end of the forecast period.
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