The Europe Spring Water Market would witness market growth of 7.0% CAGR during the forecast period (2022-2028).
Drinking water packed, cleansed, and contaminant-free is called spring water. The most practical approach for the body to achieve its hydration needs is drinking spring bottled water, commonly accessible in supermarkets and retail establishments and often comes in cans and plastic water bottles. In addition, several regions are experiencing a drinking water deficit, which increases the demand for clean water and boosts product sales.
Over the projection period, it is also anticipated that increasing creative work efforts and updating new goods will open up new chances for the spring water market. The demand for spring water has risen as people's knowledge of diseases, including typhoid, diarrhea, and food poisoning, has grown. Also, there is a greater demand for clean and hygienic spring water bottles due to the rise in concern about several health-related issues, such as neurological illnesses, reproductive problems, and gastrointestinal difficulties.
Throughout the projected period, this is anticipated to fuel the growth of the spring water market. In addition, the need for spring water is expanding due to several other causes, including an increase in the urban population, a rise in disposable income, an improvement in living standards, and the introduction of environmentally acceptable container materials.
One of the top revenue-producing sectors in the area, the hotel and tourist sector generates £66 billion in GVA and employs around 3 million people. This sector is an essential foundational element of the UK's overall economic and social success. However, while the industry is a significant employment and contributor to the UK economy, there are some grounds to believe that productivity performance has space to improve. According to the country's government, the hospitality and tourism sector employs around 8% of UK employees. In hospitality and tourism, 86% of the workforce is used in restaurants, bars, or hotels. In addition, Germany has a thriving restaurant sector with several well-known franchise unit setups. Some eateries, such as spring water, are increasing their need for bottled water. As a result, it is anticipated that the spring water market will expand in the Europe area.
The Germany market dominated the Europe Spring Water Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $27,552.5 million by 2028. The UK market is anticipated to grow at a CAGR of 6.1% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 7.8% during (2022 - 2028).
Based on Packaging Type, the market is segmented into Bottled and Canned. Based on Distribution Channel, the market is segmented into Specialty Stores, Hypermarkets/Supermarkets and Online Retail. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Spring Water Market will Hit $347.2 Billion by 2028, at a CAGR of 7.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include PepsiCo, Inc., Nestle S.A., Tata Consumer Products Limited (Tata Group), The Coca-Cola Company, Mountain Valley Spring Company, LLC (Primo Water Corporation), Keurig Dr Pepper Inc, Orient Beverages Limited, TEN Spring Water, 3 Springs Water Company LLC, and Gerolsteiner Brunnen GmbH & Co KG.
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