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| U.S. Bottled Water Market |
The U.S. bottled water market is a multi-billion dollar industry providing consumers with convenient and portable hydration solutions. Bottled water comes from municipal supplies or protected spring or artesian sources and goes through rigorous purification processes. Some contain essential minerals to enhance taste and promote health. Bottled water offers a cleaner and safer alternative to unpurified tap water.
The
U.S. Bottled Water Market is estimated to be valued at US$ 30029.56 Bn in 2024 and
is expected to exhibit a CAGR of 10 %
over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the U.S. bottled water are Amgen, Gilead Sciences,
Biogen, Pfizer, Novartis, Roche, Johnson & Johnson, Sanofi, Merck &
Co., AbbVie, GlaxoSmithKline, AstraZeneca, Eli Lilly, Novo Nordisk, Bayer,
Bristol-Myers Squibb, Teva Pharmaceutical, Takeda Pharmaceutical, Boehringer
Ingelheim, Astellas Pharma. The increasing health awareness and busy lifestyle
of consumers have boosted the demand for bottled water in the country. Bottled
water offers great portability and accessibility to stay hydrated anywhere. The
global bottled water market players have been expanding their production
facilities and distribution networks in the United States to capture a bigger
share of the growing market.
Market key trends
The rising disposable income and standard of living have made U.S.
Bottled Water Market Size more affordable for average US households.
The Covid 19 pandemic further increased the demand for hygienic and safer
bottled water alternatives as people wanted to avoid public drinking sources.
Major bottled water companies are introducing innovative packaging formats like
aluminum bottles and slim cans to appeal to new consumers and drive the market
growth. Companies are investing in sustainable packaging solutions using
recycled PET plastic and wood-fiber cartons to reduce plastic waste and appeal
to environmentally conscious customers.
Porter's Analysis
Threat of new entrants: Bottled
water market requires high capital investments and established distribution
channels. Therefore threat of new entrants is low.
Bargaining power of buyers: There
are numerous brands in the market giving buyers more options. However,
switching costs are low making buyer power high.
Bargaining power of suppliers: Major
suppliers include plastic bottle manufacturers and natural spring water
sources. Supplier power is moderate given availability of substitutes.
Threat of new substitutes:
Alternatives include tap water, juices and soft drinks. However bottled water
is perceived as premium and healthy option. Threat of substitutes is moderate.
Competitive rivalry: Market has some
dominant players and private label brands. Competition is high based on
pricing, advertising and product differentiation.
Geographical Regions
California is the largest market for bottled water accounting for around 20% of
total US bottled water market value. The state has hot climate and health
conscious population driving higher bottled water consumption.
Southeast region of US states like Florida and Georgia is witnessing fastest
growth for bottled water market. Hot weather conditions and tourism industry
are major factors behind rising bottled water demand in these states. The
region offers opportunities for market expansion for brands.
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More Insights On U.S.
Bottled Water Market
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