India Bottled Water Market to reach over USD5473.16 million by FY2026
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Continuously increasing population, rising health issues, unavailability of safe drinking water to drive the India bottled water market during the forecast period.
According to TechSci Research report, “India Bottled Water Market By Stock Keeping Unit (Less than 500ml, 1-2L, more than 2L), By Packaging (Glasses, Bottles, Barrels) By Company and By Region, Competition Forecast & Opportunities, FY2016-FY2026”, India bottled water market is forecast to grow at a CAGR of over 13% by FY2026. India bottled water market is witnessing consistent growth, owing to increasing population and urbanization. Moreover, factors such as rising health awareness, unavailability of safe drinking water, and increasing awareness of the importance of safe drinking water for maintaining good health are fueling the bottled water market in India. The rising number of tourists in the country is propelling the bottled water industry in India, as tourists prefer bottled water to normal tap water due to health concerns. During FY2020-FY2026, the number of international tourist arrivals is projected to increase at a rate of over 6%. This, in turn, is expected to boost the sale of bottled water. In addition, increased awareness among the increasing population of the importance of safe drinking water to preserve good health, along with a sharp rise in per capita income, is generating demand in India for bottled water.
The COVID-19 pandemic has led to the increased demand for bottled water from the stockpiling mentality of buyers, in anticipation of lockdowns and shortages. However, post lockdown, the sales were reduced when the shops were allowed to reopen.
The market for bottled water is motivated by the fear of getting diseases and the portability and convenience offered by bottled water. Environmental contamination from plastic trash poses a threat to the development of the market. However, the introduction of environmental-friendly packaging can provide growth opportunity for the India bottled industry. Consumption of bottled water is high in areas with problematic water supply and/or areas where bottled water from brands offer special properties (e.g., a high mineral content). The recent growth has been fueled by a pervasive trend towards health and wellness in many areas.
The demand for more than 2L stock keeping units is projected to rise, owing to some people demanding bigger size of bottled water for the home and commercial use instead of installing and using water purifiers. Even though people spend a good part of their time outside their homes, they do not carry a water bottle because they are easily accessible everywhere, due to the vast distribution of water bottles through pan shops and independent grocery retailers.
One of the challenges that the India bottled water industry is facing is fake or illegal water bottling companies that are supplying and targeting customers in rural areas through pan shops. In India, some companies sell water bottles using fake brand names or a loose copy of the popular brand. People can file a complaint to the regulatory authority against unauthorized water drinking plants. Bottled water manufacturers are practicing new technologies for water filtration to fortify their image and to make the best purified filtered bottled water in the country.
To improve their brand reputation and to differentiate themselves in India bottled water market, bottled water manufacturers are capitalizing on creative packaging strategies for bottled water. These creative packaging choices include clear sophisticated bottles, recyclable and resalable packaging material and coatings added on a can to boost the consumer experience with unique visual effects and increasing shelf appeal.
Browse 19 market Figures spread through 70 Pages and an in-depth TOC on"India Bottled Water Market"
The India bottled water market is segmented based on, stock keeping units, packaging, company, and region. In terms of stock keeping units, the market can be segregated into less than 500ml, 1-2L, more than 2L. Out of these, 1-2L segment is a major dominator in FY2020, as it is the most demandable category in India. In terms of regional analysis, North India is the major contributor in the India bottled water market and is anticipated to maintain its dominance over the next five years as well.
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“The COVID-19 pandemic made inhabitants more attentive and cautious as compared to the earlier scenario, combined with government initiatives on spreading well-being, which is leading to higher sales of bottled water in the country; thereby, driving the India bottled water market through FY2026.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Bottled Water Market, By Stock Keeping Unit (Less than 500ml, 1-2L, More than 2L), By Packaging (Glasses, Bottles, Barrels) By Company and By Region, Competition, Forecast & Opportunities, FY2016-FY2026,” has evaluated the future growth potential of bottled water in India and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the India bottled water market.
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TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies, and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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Created on Apr 8th 2021 07:27. Viewed 24 times.