The packaged drinking water industry generated a revenue of $5.55 billion in 2022, and its compound annual growth rate (CAGR) is expected to grow by 4.84 percent annually between 2022 and 2027, a report published by consumer market outlook (CMO), Statista, stated.
Bottled drinking water is branded and promoted with special properties like minerals, etc. The consumption is higher in countries with problematic water supply.
As per the report, the packaged water industry will witness a five percent spending and two percent consumption from dining places and bars by 2027.
In the year 2022, an average Indian consumed around 16.78 litre of packaged drinking water, the report added. The growth rate in India for the bottled drinking water industry accounted for the increasing trend of awareness towards health and wellness. Yet, according to UNICEF, less than 50 percent of the Indian population has access to clean drinking water.
Tourists prefer packaged drinking water over tap water, which is expected to contribute to the growing demand for bottled water. The tourist traction in India is expected to grow at a rate of 6.7 percent between 2015-2025, according to a report titled 'Bottled Water Market in India (2018-2023)' published by ResearchAndMarkets.com.
Recently, the popularity of flavoured packaged drinking water has also picked up, the report added. This shift is developing an opportunity to expand the product line of bottled water manufacturers in India.Additional market trends seen in the industry were the Indian bottled water manufacturers partnering with airlines, multiplexes, and hotels, increasing the overall sales volume in India, the report stated.