Spring Water Market Size is Projected to Generate a Revenue of $465.2 Billion by 2031Download Sample Reports Overview
The Global Spring Water Market Size is expected to be valued at $465.2 billion by 2031, surging from $210.7 billion in 2021, at a noteworthy CAGR of 8.7%.
Impact Analysis of COVID-19 on the Spring Water Market
The COVID-19 pandemic led to severe disruptions that affected the demand, supply, import-export, and availability of spring water across distribution channels. Owing to the COVID-19 pandemic, several companies, especially the consumer products industry, experienced unprecedented challenges. The Spring Water market was harmed by scarcity of raw materials & personnel, factory closures, and other operational challenges caused by COVID-19 safety measures. The lockdown had a significant influence on the supply and production of Spring Water, limiting the market's expansion. Vaccination initiatives, on the other hand, increased commercial activity globally. However, the import-export restrictions, delay in the availability of raw materials, supply chain disruptions in the spring water industry negatively affected the spring water market growth during the pandemic.
Global Spring Water Market Analysis
The spring water market size has been growing significantly due to an increase in consumer demand for natural and healthy beverages. Major factor contributing to this growth is increasing in number of health-conscious people around the world. People are becoming more conscious of the ingredients in their food and drink, and spring water is perceived as a pure and natural alternative bottled waters. Consumers look for eco-friendly options and spring water is often packaged in recyclable materials. Furthermore, the spring water market is expected to continue its growth trajectory in the coming years, driven by consumer preferences and changing spring water market trends. The food and beverage business is being driven by continuous urbanization, increased buying power, and a growing preference for healthier water products. These are the major factors anticipated to boost the spring water market share during the forecast period.
However, seasonal variability in water source availability can impact the spring water market by causing disruptions in the supply chain. As the spring water source is dependent on seasonal rainfall or snowmelt, then fluctuations in water availability can lead to reduced production and supply, potentially resulting in price increase and reduced availability of spring water for consumers. In addition, if the water source dries up or becomes contaminated, it can lead to temporary or permanent discontinuation of spring water production, affecting the brand's reputation and market share that can hamper the market demand.
The market for spring water in convenient packaging has seen significant growth in recent years due to rise in awareness among consumers of the benefits of consuming natural and purified water. One of the key drivers of this market growth is convenience. With busy lifestyles and surge in demand for healthy beverage options, consumers are looking for quick and easy access to high-quality water that can be consumed on the go. Spring water in convenient packaging offers this convenience and is available at various retail locations, making it a popular choice for consumers. The spring water market in convenient packaging offers significant opportunities for growth and development. With a growing demand for healthy beverage options and eco-friendly packaging, there is significant potential for growth in this market segment.
Global Spring Water Market, Segmentation
The spring water market is segmented on the basis of packaging type, distribution channel, and region.
The packaging type segment is further bifurcated into bottled and canned. Among these, the bottled segment is anticipated to have a dominant market share in 2021. Moreover, there is growing awareness about a number of diseases caused by polluted water, such as neurological disorders, gastrointestinal diseases, and reproductive difficulties, which is driving up demand for healthy and safe bottled water. Consumers are increasingly demanding safe, healthful, and refreshing beverages that are low in calories, caffeine, and preservatives.
The distribution channel segment is further classified into hypermarkets/supermarkets, specialty stores, and online retail. Among these, the hypermarkets/supermarkets stores segment is anticipated to have the maximum growing market share in 2031. Supermarket and hypermarket conglomerates such as SPAR, Walmart, 7Eleven, and Aldi have cast grocery store chain with a large customer base around the world. This is projected to drive the sales of spring water in hypermarkets and supermarkets in the next few years.
The spring water market in the Asia-Pacific region is projected to show the fastest growth. The Asia-Pacific region has seen a rise in demand for spring water due to factors such as rise in health awareness, rapid urbanization and changing lifestyles. This has led to an increase in the production and consumption of spring water, as well as a rise in investment in the spring water industry. Growth in awareness of the significance of health and wellness in countries such as China, India, Malaysia, and Indonesia is one of the primary reasons that drives market expansion, leading to increased demand for hygienic consumables. With increased awareness of the necessity of healthy beverage alternatives, demand for spring water options is increasing, generating opportunities for market expansion in the area.
Key Players in the Global Spring Water Market
Some of the leading spring water market players are
- Orient Beverages Pvt. Ltd. (Bisleri International Pvt. Ltd.)
- CG Roxane LLC
- Nestle S.A.
- Ten Spring Water
- Coca-Cola (Valpre)
- Danone (Evian)
- 3 Spring Water
- Mountain Valley Spring Water (Primo Water Corp.)
- Tata Consumer Products Limited (Himalayan)
In September 2020, Evian, a Danone brand, introduced new recyclable bottles made entirely of recycled polymers. These innovative bottles are sold in Germany, the UK, Switzerland, and Belgium.