Published Date : Jun 22, 2016
The market for bottled water has emerged as the fastest expanding choice of consumers across the globe in the past few years. In the U.S., the bottled water market has become the second leading category in the commercial beverages segment in the country. The market is regulated by the U.S. FDA in the U.S., which considers the entity as a packaged food product. On the global front, the market for bottled water is regulated by the International Council of Bottled Water Associations, which monitors the numerous regional regulatory agencies across various countries and monitors the quality of bottled water.
Not only is the market witnessing huge traction presently, it is also expected to see exponential growth in the years to come. Looking at the trends that rule the overall demand and supply chain in the global food and beverages industry, the bottled water market has come across as a highly dynamic market and will continue to be a major segment of the overall bottled beverages industry.
Defying the notion that free water should be supplied by government bodies to their people and is one of the basic rights of humans, the market for bottled water has seen widespread acceptance owing to the convenience it provides and its promise of safety. The commercialization of bottled water started in the 1960ss when the introduction of plastic brought a revolution in the industrial world. However, it was not until the invention of polyethylene terephthalate (PET) in the 1990s that the market for plastic bottles started gaining more prominence. The lightweight and strong blend of PET, with its added advantages of economic price structure and ease of transportation, easily became the standard for packaging drinking water.
Subsequently, the bottled water market also came to become a multibillion-dollar industry and now enjoys rising demand from across the globe. Presently, the global bottled water market spans a plethora of various kinds of operations, ranging from bottling operations across small- and mid-sized regional companies to large scale operations across multinational food and beverage giants such as Nestle Waters, PepsiCo Inc., and Coca-Cola.
In the future years, although PET will continue to be one of the most preferred choices of bottled water manufacturers, the bottled water market will be influenced by the rising concerns and regulations regarding the disposal of PET. As PET is not easily decomposed in the environment, companies will be prompted to look for biodegradable yet economic options for packaging water.