Bottled deep ocean water is usually associated with characteristics such as high purity, low temperature, and rich in nutrients and advantageous elements, which include potassium, magnesium, calcium, selenium, chromium, vanadium, and zinc.
This is an outcome of less photosynthesis of plant planktons, consumption of nutrients, and organic decomposition, which has led to a lot of nutrients remaining in the water. As such, bottled deep ocean water has the potential to become a good source of nutrients.
These unique characteristics of this water are anticipated to bolster the growth of the bottled deep ocean water market over the coming years.
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- Kona Deep
- Taiwan Yes Deep Ocean Water Co., Ltd.
- Hawaii Deep Blue LLC.
- Destiny Deep Sea Water
- iROC Corporation
- Panablu Co., Ltd.
- Ako Kasei Co., Ltd.
- Muroto Deep Sea Water Co., Ltd.
- Niigata Sado Deepsea Water Co., Ltd.
- Tropical World Food
- Ocean’s Halo
- Seven-Eleven Hawai, Inc.
- Aquagen Europe
Introduction of New and Trendy Packaging Styles Boosting Brand Awareness
Manufacturers in the bottled deep ocean water market space are using plastic as their packaging material. However, consumers are becoming increasingly aware of the ill-effects of drinking water from plastic bottles. The usage of plastic also has an adverse effect on the environment.
Rising awareness about similar environmental impacts is encouraging manufacturers to focus on new packaging materials and trendy designs. They are also launching innovative packaging styles for bottled deep ocean water offerings, using glass bottles and eco-friendly bottles to attract maximum number of consumers.
These new and trendy packaging styles are expected to boost the sales of bottled deep ocean water.
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Premium Products - Technological Advancements and Innovation in Packaging
Manufacturers in the bottled deep ocean water market are selling their products under the category ‘premium quality products’. Thus, they normally strive to provide premium features with their products, right from safety to protecting the nutritional value of these products.
Manufacturers are also providing offerings with unique and innovative packaging that prevents bacterial contamination, which becomes likely once it comes in contact with air after opening the product. This technology prevents deterioration in the taste of the water.
- Panablu Co., Ltd., a South Korea-based company, provides unique packaging BIB, which is certified by the FDA. BIB is a natural pressure discharge type container that can prevent contact with air. It thus prevents deterioration of taste due to contact with air.
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Manufacturers Target Premium Class of Consumers
Bottled deep ocean water falls under the category of natural premium water. Naturally-sourced deep ocean water is rich in electrolytes, containing all essential nutrients, and is one of the purest forms of water. The cost of bottled deep ocean water is comparatively higher than conventional bottled water.
Owing to this factor, manufacturers in the bottled deep ocean water market are targeting prime consumers such as sportsmen, celebrities, actors, and politicians.
These consumers have high spending power that allows them to spend more on food and beverage products, especially those that claim to improve health and fitness. Key players in the global bottled deep ocean water market could gain additional profits by targeting these very consumers.
- Panablu Co., Ltd. targets consumers with a monthly income of more than US$ 5 million who enjoy premium lifestyles. It also targets homemakers who prefer premium things and are highly conscious of health and wellness.
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Five Star Hotels, Fine Restaurants, and Corporate Offices to Become Key Consumers
Five-star hotels and fine restaurants are places frequented by consumers who are wealthy and are ready to spend on healthy and premium products. Thus, manufacturers in the global bottled deep ocean water market are strategically targeting five-star hotels and fine restaurants to increase their sales.
Some manufacturers are targeting corporate offices where employee health is one of the first priorities of an organization. These factors are expected to create huge opportunities for key players in the global bottled deep ocean water market in the coming years.
- Aquagen Europe’s bottled deep ocean water is supplied to five-star hotels, fine restaurants, and prime consumers across Belgium, the Netherlands, and France.
Regional Landscape of Global Bottled Deep Ocean Water Market
Producers of natural mineral and spring water are key players in the European food & beverage supply chain, and are pioneers in the field of sustainable resource management.
European consumers show a marked preference for naturally-sourced water that has not been disinfected nor chemically processed, and is associated with a specific place of origin.
Moreover, European consumers are ready to spend more on natural and healthy products. Owing to this factor, Europe is expected to be one of the potential markets for players in the global bottled deep ocean water market.
- According to the European Federation of Bottled Waters, more than a quarter of the global bottled water production takes place in Europe, where consumers purchase and drink more than 52 billion liters of bottled water every year.
COVID-19 Impact on Bottled Deep Ocean Water Market
In 2020, the COVID 19 pandemic has majorly affecting the growth of the food and beverage industry. Key players in the bottled deep ocean water market are facing its impact too, and finding it difficult to maintain continuous product supply. All the major economies around the globe have announced partial or total lockdowns to counter the COVID 19 pandemic.
These countermeasures are directly impacting their economies, which is ultimately leading to reduced growth of the global market. Recovery will be seen in the third or fourth quarter of 2020 at the earliest, when the production and supply chain will observe smooth functioning and movement of products. Associations and water bodies across the globe are primarily focusing on the effective supply of drinking water, and not on premium products.
The impact of COVID-19 is not measurable, as nations are focusing on initiatives to re-open their economies, and such measures will see a positive outcome for the bottled deep ocean water market over the coming years.
The global bottled deep ocean water market has been witnessing significant growth. South Asia and Latin America are anticipated to register the highest growth over the forecast period, while North America and East Asia will remain the top consumers in the global bottled deep ocean water market.
Increasing awareness about healthy and sustainable resources of water and nutritional content in bottled deep ocean water are expected to fuel the growth of the global bottled deep ocean water market through 2030.
Bottled Deep Ocean Water Market: Segmentation
PMR’s study on the global bottled deep ocean water market offers information categorized into four segments - packaging, end use, distribution channel and region.
Key Questions Answered in the Report
- How much is the bottled deep ocean water market worth?
The global bottled deep ocean water market is estimated to be worth US$ 2.4 Bn by the year 2031.
- What will be the demand outlook?
The global bottled deep ocean water market is expected to witness a CAGR of 9% between 2021 and 2031.
- What was the last 5 year market CAGR?
The global bottled deep ocean water market witnessed a CAGR of 7.5% between 2015 and 2020.
- What are the key trends of bottled deep ocean water market?
The current trend is that of key players emphasizing on novel packaging materials along with trendy designs and shifting to eco-friendly and glass bottles.
- What is driving the demand for bottled deep ocean water?
The fact that bottled deep ocean water scores high on purity and is rich in nutrients along with magnesium, potassium, selenium, calcium, vanadium, chromium, and zinc.
- What is the market share of top 5 players?
The top 5 players holding more than 30% of the market share include Kona Deep, Taiwan Yes Deep Ocean Water Co., Ltd., Hawaii Deep Blue LLC, Destiny Deep Sea Water, and iROC Corporation.
- What are the top 5 countries driving demand?
The top 5 countries driving demand include the US, Taiwan, South Korea, UK, and India.
- What is North America’s market Outlook?
North America holds more than 30% of the market share due to the US being at the helm of affairs.
- At what percentage bottled deep ocean water market is going to register growth in Europe?
Europe is expected to register growth at the rate of 7% in the bottled deep ocean water market between 2021 and 2031.
- What are the key market statistics in Korea and Japan?
Japan and South Korea will continue to be the torchbearers for bottled deep ocean water market fir the Asia-Pacific between 2021 and 2031.