Market Research Future (MRFR) has published a cooked research report on the “Global Spring Water Market” that contains information from 2018 to 2032. The Spring Water market is estimated to register a CAGR of 9.20% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global spring water market— Orient Beverages Pvt. Ltd., Nestle S.A., Pepsico, Inc., Ten Spring Water, Danone, 3 Spring Water, Mountain Valley Spring Water, Tata Consumer Products Limited, CG Roxane, LLC, and Coca-Cola
The global spring water market is accounted to register a CAGR of 9.20% during the forecast period and is estimated to reach USD 474.5 Billion by 2032.
Due to rising consumer interest in health and wellbeing as well as rising worries about the quality of tap water, the market for spring water is expanding significantly. Increased consumer awareness of the advantages of drinking natural spring water, increased disposable incomes, and the availability of flavoured and useful spring water products are some of the drivers driving the industry.
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The global spring water market has been segmented based distribution channel and type.
On the basis of distribution channel, the market is segmented into specialty stores, online retail, and hypermarkets/supermarkets. In 2022, the hypermarkets/supermarkets segment's revenue share was the highest. Throughout the projection period, market growth will be fueled by how easy it is to choose the necessary brand of bottled water with a particular mineral combination.
Based on type, the global spring water market has been segmented into bottled and canned. In 2022, the bottled segment dominated the world market for spring water. Because dysentery, diarrhoea, and typhoid are frequently caused by impurities in running water, consumers are looking for water-saving strategies, and enterprises are dealing with the same issues.
The global spring water market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Spring Water market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Spring Water market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Spring Water market comprises of Middle East, Africa, and Latin America.
The North America spring water market dominated this market in 2022 (45.80%). Another element boosting the high demand for bottled water is the increased popularity of healthy living, rigorous exercise, and other physical and outdoor activities. The majority of Americans think packaged water is safer and more convenient than water that they get from the tap. Additionally, it is projected that the growing consumer demand for sustainable and ecologically friendly packaging solutions will create lucrative business prospects for both incumbent manufacturers and new rivals.
Moreover, in 2022, the Europe spring water market had a sizable portion of the market. Due to the expanding use of packaged drinks and the rising proportion of health-conscious consumers, the spring water market is expected to experience considerable growth over the projected period. Furthermore, the market with the greatest growth rate in this area belonged to the United Kingdom, while Germany had the largest market share.
Additionally, from 2023 to 2032, the Asia Pacific spring water market is anticipated to experience rapid growth. The growing appreciation of the importance of health and wellness in countries like China, India, Malaysia, and Indonesia is one of the primary drivers driving the market's rise. This is due to a greater need for sanitary supplies. As people become more aware of the benefits of hygienic beverage options, there is an increasing demand for bottled options, creating new prospects for market growth in the region.
Furthermore, the rest of the world's spring water market is divided into the Middle East, Africa, and Latin America. Latin America's spring water market is expanding as customers place more value on health and fitness. Market expansion is being driven by the desire for natural, healthy, and reviving hydration options. The market is expanding as a result of elements like growing disposable incomes, more health consciousness, and worries over water quality. Important stakeholders place a strong emphasis on convenience, sustainability, and product purity.
Key Findings of the Study