by The global U.S. Bottled Water Market is estimated to be valued at US$ 22,175.71 Million in 2021 and is expected to exhibit a CAGR of 8.42% over the forecast period of 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The U.S. Bottled Water Market offers a wide range of bottled water products that are packaged and distributed for consumption. Bottled water provides consumers with a convenient and portable hydration solution, making it popular among individuals leading active lifestyles. Additionally, increasing health consciousness and the need for safe and clean drinking water have further fueled the demand for bottled water products.
Market Key Trends:
One key trend in the U.S. Bottled Water Market is the growing popularity of flavored and functional water. Consumers are increasingly seeking alternatives to sugary beverages and are turning to flavored water options for a refreshing and healthier choice. Flavored water offers a variety of flavors, such as fruit-infused, herbal, and sparkling options, catering to different taste preferences.
Furthermore, functional water, which includes enhanced water with added electrolytes, vitamins, and minerals, is gaining traction among health-conscious consumers who are looking for additional benefits from their drinking water. These trends indicate a shift towards healthier beverage choices and present opportunities for market players to innovate and expand their product offerings.
Porter’s Analysis
Threat of New Entrants: The U.S. bottled water market is highly attractive due to its high growth potential and profitability. However, the market is already dominated by established players, making it difficult for new entrants to gain significant market share. The established brands have economies of scale, well-established distribution networks, and strong brand loyalty, which act as barriers to entry for new companies.
Bargaining Power of Buyers: The buyers in the U.S. bottled water market, which include both individual consumers and large retailers, have significant bargaining power. This is mainly due to the large number of available brands and products in the market. Buyers can easily switch between brands, putting pressure on companies to offer competitive prices and high-quality products to retain their customer base.
Bargaining Power of Suppliers: The key inputs for the production of bottled water, such as plastic bottles and packaging materials, are readily available from multiple suppliers. This gives bottling companies a relatively high bargaining power over their suppliers, enabling them to negotiate favorable prices and terms. Additionally, the presence of multiple suppliers ensures a steady supply of raw materials, minimizing the risk of supply disruptions.
Threat of New Substitutes: The U.S. bottled water market faces a moderate threat from new substitutes. Consumers have the option to choose from a wide range of alternative beverages, such as soft drinks, sports drinks, and flavored water. However, the increasing health consciousness among consumers and the growing awareness of the benefits of hydration are driving the demand for bottled water, reducing the threat from substitutes.
Competitive Rivalry: The U.S. bottled water market is highly competitive, with several key players vying for market share. Nestle Waters, PepsiCo, Inc., The Coca-Cola Company, Groupe Danone, and Suntory Beverage & Food Ltd are some of the major players operating in the market. Intense competition among these players leads to aggressive marketing strategies, product innovations, and price competition, benefiting the consumers.
Key Takeaways
The U.S. Bottled Water Market Growth is expected to witness high, exhibiting a CAGR of 8.42% over the forecast period of 2022-2030. This growth can be attributed to the increasing health consciousness among consumers, the rising demand for convenient and safe drinking water, and the growing availability of flavored and functional water products.
In terms of regional analysis, the United States is the fastest-growing and dominating region in the bottled water market. The market is driven by the high disposable income of consumers, the extensive retail presence, and the favorable regulatory environment for the bottled water industry.
The key players operating in the U.S. bottled water market are Nestle Waters, PepsiCo, Inc., The Coca-Cola Company, Groupe Danone, Suntory Beverage & Food Ltd, Mountain Valley Spring Company, LLC, and CG Roxane, LLC. These players have a strong market presence and are constantly engaged in product innovations, acquisitions, and strategic partnerships to maintain their competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
