The bottled water market reaches ~403.06 Bn by 2023
The unavailability of clean water in many areas is encouraging
the growth of the bottled water market. As India bottled water market segments
have begun extensively contributing to the overall growth of the market, it is
expected to reach INR ~403.06 Bn by 2023 from its present value of ~160
Bn.
The bottled water market
in India is projected to expand at a CAGR of ~20.75% from 2018 till the
next five years. Brands such as Bislery, Kinley, and Aquafina will continue to
dominate the Indian bottled water industry.
Stock
keeping unit (SKU):
The four main types of Stock Keeping Units are found in India. (1)
1-liter bottles, (2) 2-liter Bottle, (3) 500-milliliter Bottles, (4)
250-milliliter bottles pouches and another SKU of bottled water include (5)
15-20 liters of barrels. The one-liter bottles happen to have the largest share
in the market which reaches around ~42% while the 500-milliliter and
250-milliliter bottles stand second in the list.
Market
trends:
A recent trend observed in the Indian bottled water market is of
flavored bottled drinking. The different kinds of flavored water typically have
artificial sweeteners such as soda, cola, juice, and other sweetened beverages.
Soda, cola, juice and other sweetened beverages are common in the flavored
bottle drinks.
India Bottled Water Market has also seen its consumer preferring
flavored bottled water over normal plain water. This is a trend which is lately
emerging in many parts of India and opening opportunities to expand the line of
products in the bottled water.
What
drives India Bottled Water Market growth?
- The importance of safe drinking water
among Indian consumer is causing an increase in the demand for bottled water.
- Tourists in India prefer bottled
water than tap water. There is a rise in foreign tourism in India and this has encouraged the sales of bottled water in India.
Challenges:
Recent years show a slight increase in the number of fake brands
in the Indian bottled water market. This has affected consumers’ faith in
bottled water products, eventually showing a negative impact on sales.
Contact Details:
Aarkstore Enterprise
Phone: +91 998 729 5242 | contact@aarkstore.com
Comments
Post a Comment