The worldwide market for bottled water processing was estimated at US$ 211.3 Billion in the year 2019 as well as is anticipated to touch US$ 392.9 Billion towards the end of 2029. If these statistics hold true, the market would reflect a CAGR of 6.4% amid 2019-2029. The market is fueled by an increment in the utilization of bottled water, technological progressions in bottled water processing equipment, policy standards as well as expanding knowledge about wastewater and water treatment processes. Higher energy with maintenance costs provide as a restraining aspect for the market.
Key Takeaways from Market Study
- The APAC region is expanding quickly based bottled water processing market. India and China are the nations that are directing to business development. Italy and Germany are the foremost users of the bottled water in the European region.
- The topmost drivers of the APAC retail economy incorporate higher utilization, altering drinking patterns, bulk water buys and increasing disposable incomes.
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- The worldwide market banks heavily on the equipment and technologies utilized for bottled water manufacturing.
- Higher investment in bottled water equipment lays a big obstacle for makers.
“A foremost aspect fueling development of the worldwide market for bottled water processing is expanding need for higher quality water from consumers because of expanding health concerns. Additionally, attractive packaging and product launches provided by foremost participants are projected to impel development in the market,” said a lead analyst at FMI.
Demand would go up Owing to the Stockpiling Behavior Because of COVID-19 Outbreak
Although the worldwide COVID-19 crisis keeps on to expand, and rumors of shortfalls of bottled water gain attention. Water companies have a profound awareness of the significance of quality water along with wastewater services in our routine lives and throughout a public health disaster and are dedicated to taking action to ascertain that our water systems work both safely and efficiently. Additionally, as a result of this outbreak and the requirement to access clean water to general public safety and sustain personal hygiene, several customers stockpile their pantries with the additional bottled water.
The foremost market participants of the worldwide market for bottled water processing incorporate Dow Chemical Co., Pall Corporation, Liquid Packaging Solutions Inc., Velocity Equipment Solutions Inc., General Electric, Norland International Inc., Seychelles Environmental Technologies, Inc., along with Axeon Water Technologies. All through the bottled water market, makers are slowly taking advantage on public worries concerning the chemical pollutants commonness in the drinking water, generating it unsafe for the populace to drink. This could be because of the want of appropriate legislation to ensure tap water protection in several communities in emerging regions all over the world.
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Market participants have enhanced modes to gain market share as well as are invariably centered on venture capital investments and novel product launches. So as to enhance their market place in the worldwide market for bottled water processing, the foremost participants are now focusing on strategies, for instance, mergers and acquisitions, product launches, new developments, partnerships as well as joint ventures.
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