Consumption of supplied water is decreasing as the demand for bottled water increases day by day. In addition to this, with increasing awareness about health, consumers are seeking healthy alternatives in the beverage industry. Owing to this, mineral-enriched water products are in high demand across the globe. Besides this, consumers prefer bottled water in the HoReCa sector and while traveling. They prefer to carry bottled water than opting for supplied water when on a tour, which leads to an increase in the demand for and consumption of bottled water. This factor is propelling the growth of the bottled deep ocean water market across the globe.
In 2020, the COVID 19 pandemic has been majorly affecting the growth of the food and beverage industry. Key players in the bottled deep ocean water market are not majorly impacted, as many water utilities around the world have released their continuity plans to ensure the correct continuance of their services. A slighter impact will be seen only on the supply chain due restricted trade of products across the world. Bottled deep ocean water is a premium product, which is purchased by the high income group, and so, consumer buying power will not affect the demand pattern of the market.
Key Takeaways of Bottled Deep Ocean Water Market Study
- North America holds a significant share in the global bottled deep ocean water market, as the region has the largest number of consumers and producers of bottled deep ocean water.
- The retail segment, under end use, is projected to hold the highest value and volume share in the global bottled deep ocean water market over the forecast period of 2020-2030.
- The 1,000-2,000 ml segment, under packaging, is projected to register significant growth in the global bottled deep ocean water market over the forecast period.
- The bottled deep ocean water market in South Asia, followed by Latin America, is anticipated to register significant growth over the forecast period, owing to the increasing expenditure power of consumers in these regions.
- The business to consumer segment, under distribution channel, is projected to register significant growth, along with holding the highest value share in the market.
- Europe is also expected to hold a significant value share along with a healthy growth rate in the global bottled deep ocean water market over the forecast period of 2020-2030
“Unique and innovative packaging, along with a competitive pricing strategy and focus on established markets such as Europe and Oceania, is anticipated to enable players to boost their overall sales. Deep ocean water producing countries such as South Korea, Taiwan (China), Hawaii (U.S.), and Japan are going through huge economic damage due to COVID 19 pandemic, which is expected to slow down the production and supply of bottled deep ocean water. Some demand will be catered for through existing inventory by key stakeholders in the supply chain,” says a PMR analyst.
Bottled Deep Ocean Water Market: Competitive Landscape
Key players in the global bottled deep ocean water market are focusing on penetrating emerging markets to expand their regional footprint. Some of the major players in the global bottled deep ocean water market, such as Kona deep, Odeep, Taiwan Yes Deep Ocean Water Co., Ltd., Hawaii Deep Blue LLC., Panablu Co., Ltd., and others are focused on increasing their penetration in both, emerging and established markets such as South Asia, Europe, Oceania, etc., by increasing exports. They are also focusing on technological advancements and innovation in packaging.
Explore More Valuable Insights on Bottled Deep Ocean Water Market
Persistence Market Research, in its new report, offers an impartial analysis of the global bottled deep ocean water market, presenting historical data (2015-2019) and estimation statistics for the period of 2020-2030. The study offers compelling insights on the bottled deep ocean water market based on packaging (200-500 ml, 500-1000 ml, 1000-2000 ml, and above 2000 ml), end use, (industrial and retail), and distribution channel (business to business and business to consumer), across seven regions.
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