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FO23028647 |
Pages: 238 |
Feb 2023 |
One of the key reasons expected to boost the spring water market growth rate is the surge in per capita spending and fast urbanization. Moreover, the rise in consumer awareness regarding the health benefits of consuming spring water is anticipated to fuel the growth of the spring water market share. The growing consumer awareness of the health advantages of choosing spring water is another major factor driving the market. In addition, the development of environmentally friendly packaging, flavored water with approved ingredients, the portability as well as the quick expansion of restaurants, are all anticipated to have a significant impact on the market's growth.
The increase in environmental pollution caused by plastic bottles and a lack of awareness about health issues caused by low-cost tap water are expected to be major limiting factors for the spring water market, as spring water is not cost effective when compared to other drinks, which may restrict the spring water market size growth.
The rise in disposable income is the key growth factor in the global spring water market. This spring water market is highly competitive with conventional methods of supplying water, such as water in jugs or containers, or through taps or fountains, and so on. It also acts as a miracle in the event of natural disasters since it can be readily stored and distributed, making it one of the safest and most dependable means of delivering water in emergency situations.
According to regional analysis, the Europe spring water market is anticipated to show the fastest growth on account of increased use of bottled beverages and health-conscious consumer in Europe. In addition, the market growth in this area is being supplemented by the rise in illnesses and health problems brought on by the intake of contaminated water.
Spring water is derived from an underground aquifer. It is derived from a subsurface source where water naturally rises to the surface. The mineral composition and total dissolved solids levels of spring water vary depending on the area. Demand for nutrient-fortified water has been increasing among working professionals, travelers, and in house consumers. The products labeled alkaline, electrolyte rich, and fortified with added hydrogen oxygen have been gaining popularity.
Demand for bottled water increased in the initial few months of pandemic as a result of customers storing supplies in anticipation of lockdowns and shortages. However, the downturn in the global tourism industry led to decreasing sales as well as a further reduction in the trend. The spring water sector faced logistical difficulties due to the extensive regulations by governments around the world. Some businesses that produce bottled water either stopped or scaled back their operations due to the danger of disease among the workforces. As a result, spring water production reduced, hampering the growth of the market. The losses suffered by the worldwide tourism sector soon resulted in declining sales and a further reversal of the trend. However, lifting the restrictions after the COVID-19 scenario may boost the performance of the spring water market as restaurants and food outlets are becoming more likely to purchase spring water. After the pandemic, it is anticipated that demand for bottled water would rise as people become more aware of proper hygiene and health habits.
Concerns about a variety of health issues caused by contaminated water, including neurological illnesses, reproductive problems, and gastrointestinal sickness, have increased demand for hygienic and pure spring water globally. Spring water manufacturers claim that their bottles seals protect water from bacterial contamination independent of storage time. Healthy mineral water is becoming increasingly popular across the world. As a result, the spring water market is increasingly concentrating on producing enhanced and new water products while ensuring that the fundamental features of naturalness and hydration of conventional plain water are retained. This has resulted in various product launches and development in the spring water market.
A spring water bottle costs substantially more than tap water. Spring bottled water costs $9.47 per gallon on average, yet the same amount of tap water costs $0.005. As a result, bottled water can cost up to 2,000 times more than tap water. Furthermore, many people dislike the flavor, color, or odor of spring water. When the manufacturing, distribution, and promotional expenses of producing each spring bottle are included, the related expenditures are high. Many springs bottled water plants that sell purified water use the same water source as local water utility companies.
The increase in health awareness among the people has led a shift in demand for safer, more convenient, nutritious, and refreshing beverages that are caffeine-free, or free of other artificial components, which has driven the worldwide spring water market forward. The food and beverage business are being driven by continuous urbanization, increased buying power, and a growing desire for healthy water products. As a result, the demand for spring water is increasing. As spring water is derived from a pure subsurface water source, it is devoid of contaminants often present in drinking water. In addition, clean spring water is high in minerals that is extremely beneficial to the health. Spring water has a neutral or slightly alkaline pH, which benefits in neutralizing acidity in the body and reducing free radical damage.
By packaging type, the market has been bifurcated into bottled and canned. Among these, the bottled segment accounted for the highest market share in 2021 whereas the canned segment is anticipated to show the fastest growth during the forecast period.
Source: Research Dive Analysis
The bottled segment accounted for a dominating market share in 2021. Spring water is the most prevalent type of bottled water. Spring water comes directly from a protected subsurface source, where the water naturally surfaces on its own. It can be collected straight from the surface or drilled directly from its underground source. It is considered the purest water available as it is naturally filtered and ready to drink with no subsequent processing. There is a risk of contamination when spring water is collected in big volumes by a tanker truck and carried to a bottling facility. The bottled water must subsequently be filtered and processed to ensure its quality. A water cleaner option is to bottle spring water directly at the source.
The canned segment is anticipated to show the fastest growth by 2031. Spring canned water bottles generally have many of the same benefits, such as a resealable cap, a convenient shape & portability, rapid cooling, and no influence on the flavor of the water. Such factors increased the demand for canned sprint water bottles. In addition, there are some spiring canned water brands offering spring canned water online conveniently shipped to consumer home.
By Distribution Channel, the market has been divided into hypermarkets/supermarkets, specialty stores, and online retail. Among these, the hypermarkets/supermarkets segment is anticipated to show the fastest growth by 2031.
Source: Research Dive Analysis
The hypermarkets/supermarkets segment is anticipated to show the fastest growth during the forecast period by 2031. Supermarket and hypermarket companies such as SPAR, Walmart, 7Eleven, Target, and Aldi have extensive grocery store networks with a global client base. The increased smartphone usage has provided new opportunities for e-commerce platforms in the worldwide market. Furthermore, the company offers doorstep delivery, discounts, quick accessibility, and quality verification. These variables are expected to promote the expansion of the hypermarkets/supermarkets segment during the forecast period.
The spring water market has been across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Europe spring water market accounted for a dominating market share in 2021. This is mainly due to increased demand for spring water due to lack of drinkable water, rise in health consciousness, increase in awareness of waterborne health diseases, surge in disposable income, rapid urbanization, upsurge in penetration of the food service industry, and an improvement in living standards. Furthermore, the fast-rising organized retail sector and growing demand for functional water are considerably contributing to the growth of the region's spring water industry.
Investment and agreement are common strategies followed by major market players. For instance, in January 2020, Emerald Coast Ultra-Pure Water, located in Florida, introduced 100% aluminum bottles for its ultra-purified product line. This innovative packaging is 100% recyclable and reusable, with the goal of reducing plastic pollution. Packaging is available in 16.0 oz or 473ml bottles with a micro protective liner to ensure that it does not taste like metal.
Source: Research Dive Analysis
Some of the leading spring water market players are Orient Beverages Pvt. Ltd. (Bisleri International Pvt. Ltd.), CG Roxane, LLC, Nestle S.A., PepsiCo, Ten Spring Water, Coca-Cola (Valpre), Danone (Evian), 3 Spring Water, Mountain Valley Spring Water (Primo Water Corp.), and Tata Consumer Products Limited (Himalayan).
| Aspect | Particulars |
| Historical Market Estimations | 2020 |
| Base Year for Market Estimation | 2021 |
| Forecast Timeline for Market Projection | 2022-2031 |
| Regional Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Packaging Type |
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| Segmentation by Distribution Channel |
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| Key Companies Profiled |
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1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation
1.5.1.Top-down approach
1.5.2.Bottom-up approach
2.Report Scope
2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on Global Spring Water market
3.Executive Summary
4.Market Overview
4.1.Introduction
4.2.Growth impact forces
4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.4.1.Technology matrix
4.4.2.Regulatory matrix
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.6.PESTLE analysis
4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental
4.7.Impact of COVID-19 on spring water market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5. Spring Water Market Analysis, by Packaging Type
5.1.Overview
5.2.Bottled
5.2.1.Definition, key trends, growth factors, and opportunities
5.2.2.Market size analysis, by region, 2021-2031
5.2.3.Market share analysis, by country, 2021-2031
5.3.Canned
5.3.1.Definition, key trends, growth factors, and opportunities
5.3.2.Market size analysis, by region, 2021-2031
5.3.3.Market share analysis, by country, 2021-2031
5.4.Research Dive Exclusive Insights
5.4.1.Market attractiveness
5.4.2.Competition heatmap
6.Spring Water Market Analysis, by Distribution Channel
6.1. Hypermarkets/Supermarkets
6.1.1.Definition, key trends, growth factors, and opportunities
6.1.2.Market size analysis, by region, 2021-2031
6.1.3.Market share analysis, by country,2021-2031
6.2.Specialty Stores
6.2.1.Definition, key trends, growth factors, and opportunities
6.2.2.Market size analysis, by region, 2021-2031
6.2.3.Market share analysis, by country,2021-2031
6.3.Online Retail
6.3.1.Definition, key trends, growth factors, and opportunities
6.3.2.Market size analysis, by region, 2021-2031
6.3.3.Market share analysis, by country,2021-2031
6.4.Research Dive Exclusive Insights
6.4.1.Market attractiveness
6.4.2.Competition heatmap
7.Spring Water Market, by Region
7.1.North America
7.1.1.U.S.
7.1.1.1.Market size analysis, by Packaging Type, 2021-2031
7.1.1.2.Market size analysis, by Distribution Channel, 2021-2031
7.1.2.Canada
7.1.2.1.Market size analysis, by Packaging Type, 2021-2031
7.1.2.2.Market size analysis, by Distribution Channel, 2021-2031
7.1.3.Mexico
7.1.3.1.Market size analysis, by Packaging Type, 2021-2031
7.1.3.2.Market size analysis, by Distribution Channel, 2021-2031
7.1.4.Research Dive Exclusive Insights
7.1.4.1.Market attractiveness
7.1.4.2.Competition heatmap
7.2.Europe
7.2.1.Germany
7.2.1.1.Market size analysis, by Packaging Type, 2021-2031
7.2.1.2.Market size analysis, by Distribution Channel,2021-2031
7.2.2.UK
7.2.2.1.Market size analysis, by Packaging Type, 2021-2031
7.2.2.2.Market size analysis, by Distribution Channel, 2021-2031
7.2.3.France
7.2.3.1.Market size analysis, by Packaging Type, 2021-2031
7.2.3.2.Market size analysis, by Distribution Channel, 2021-2031
7.2.4.Spain
7.2.4.1.Market size analysis, by Packaging Type, 2021-2031
7.2.4.2.Market size analysis, by Distribution Channel, 2021-2031
7.2.5.Italy
7.2.5.1.Market size analysis, by Packaging Type, 2021-2031
7.2.5.2.Market size analysis, by Distribution Channel, 2021-2031
7.2.6.Rest of Europe
7.2.6.1.Market size analysis, by Packaging Type, 2021-2031
7.2.6.2.Market size analysis, by Distribution Channel, 2021-2031
7.2.7.Research Dive Exclusive Insights
7.2.7.1.Market attractiveness
7.2.7.2.Competition heatmap
7.3.Asia Pacific
7.3.1.China
7.3.1.1.Market size analysis, by Packaging Type, 2021-2031
7.3.1.2.Market size analysis, by Distribution Channel, 2021-2031
7.3.2.Japan
7.3.2.1.Market size analysis, by Packaging Type, 2021-2031
7.3.2.2.Market size analysis, by Distribution Channel, 2021-2031
7.3.3.India
7.3.3.1.Market size analysis, by Packaging Type, 2021-2031
7.3.3.2.Market size analysis, by Distribution Channel, 2021-2031
7.3.4.Australia
7.3.4.1.Market size analysis, by Packaging Type, 2021-2031
7.3.4.2.Market size analysis, by Distribution Channel, 2021-2031
7.3.5.South Korea
7.3.5.1.Market size analysis, by Packaging Type, 2021-2031
7.3.5.2.Market size analysis, by Distribution Channel, 2021-2031
7.3.6.Rest of Asia Pacific
7.3.6.1.Market size analysis, by Packaging Type, 2021-2031
7.3.6.2.Market size analysis, by Distribution Channel, 2021-2031
7.3.7.Research Dive Exclusive Insights
7.3.7.1.Market attractiveness
7.3.7.2.Competition heatmap
7.4.LAMEA
7.4.1.Brazil
7.4.1.1.Market size analysis, by Packaging Type, 2021-2031
7.4.1.2.Market size analysis, by Distribution Channel, 2021-2031
7.4.2.Saudi Arabia
7.4.2.1.Market size analysis, by Packaging Type, 2021-2031
7.4.2.2.Market size analysis, by Distribution Channel, 2021-2031
7.4.3.UAE
7.4.3.1.Market size analysis, by Packaging Type, 2021-2031
7.4.3.2.Market size analysis, by Distribution Channel, 2021-2031
7.4.4.South Africa
7.4.4.1.Market size analysis, by Packaging Type, 2021-2031
7.4.4.2.Market size analysis, by Distribution Channel, 2021-2031
7.4.5.Rest of LAMEA
7.4.5.1.Market size analysis, by Packaging Type, 2021-2031
7.4.5.2.Market size analysis, by Distribution Channel, 2021-2031
7.4.6.Research Dive Exclusive Insights
7.4.6.1.Market attractiveness
7.4.6.2.Competition heatmap
8.Competitive Landscape
8.1.Top winning strategies, 2021
8.1.1.By strategy
8.1.2.By year
8.2.Strategic overview
8.3.Market share analysis, 2021
9.Company Profiles
9.1.Orient Beverages Pvt. Ltd. (Bisleri International Pvt. Ltd.)
9.1.1.Overview
9.1.2.Business segments
9.1.3.Product portfolio
9.1.4.Financial performance
9.1.5.Recent developments
9.1.6.SWOT analysis
9.2.CG Roxane, LLC
9.2.1.Overview
9.2.2.Business segments
9.2.3.Product portfolio
9.2.4.Financial performance
9.2.5.Recent developments
9.2.6.SWOT analysis
9.3.Nestle S.A.
9.3.1.Overview
9.3.2.Business segments
9.3.3.Product portfolio
9.3.4.Financial performance
9.3.5.Recent developments
9.3.6.SWOT analysis
9.4.PepsiCo
9.4.1.Overview
9.4.2.Business segments
9.4.3.Product portfolio
9.4.4.Financial performance
9.4.5.Recent developments
9.4.6.SWOT analysis
9.5.Ten Spring Water
9.5.1.Overview
9.5.2.Business segments
9.5.3.Product portfolio
9.5.4.Financial performance
9.5.5.Recent developments
9.5.6.SWOT analysis
9.6.Coca-Cola (Valpre)
9.6.1.Overview
9.6.2.Business segments
9.6.3.Product portfolio
9.6.4.Financial performance
9.6.5.Recent developments
9.6.6.SWOT analysis
9.7.Danone (Evian)
9.7.1.Overview
9.7.2.Business segments
9.7.3.Product portfolio
9.7.4.Financial performance
9.7.5.Recent developments
9.7.6.SWOT analysis
9.8.Spring Water
9.8.1.Overview
9.8.2.Business segments
9.8.3.Product portfolio
9.8.4.Financial performance
9.8.5.Recent developments
9.8.6.SWOT analysis
9.9.Mountain Valley Spring Water (Primo Water Corp.)
9.9.1.Overview
9.9.2.Business segments
9.9.3.Product portfolio
9.9.4.Financial performance
9.9.5.Recent developments
9.9.6.SWOT analysis
9.10.Tata Consumer Products Limited (Himalayan)
9.10.1.Overview
9.10.2.Business segments
9.10.3.Product portfolio
9.10.4.Financial performance
9.10.5.Recent developments
9.10.6.SWOT analysis
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