The Global Spring Water Market size is expected to reach $347.2 billion by 2028, rising at a market growth of 7.8% CAGR during the forecast period.
Aquifers underneath provide spring water. It originates from a subsurface spring where water rises to the surface spontaneously. The location has an effect on both the mineral content and Total Dissolved Solids (TDS) levels of spring water, which vary. The demand for nutrient-fortified water has been rising among customers at home, on the road, and working professionals. Alkaline, fortified, and electrolyte-rich with extra hydrogen or oxygen products have become increasingly well-liked recently.
Sugar-filled beverages may sometimes be substituted with carbonated or sparkling spring water. Since more people are becoming aware of the advantages of spring water for the skin, the market for spring water is anticipated to rise at a healthy pace throughout the projected period. For companies in the worldwide spring water market, the demand for flow spring and spring mountain water is opening up attractive potential.
The primary requirement for life without which it is impossible to envision surviving is water. Drinking clean, fresh water is essential for preserving both the physical and aesthetic health of the skin. Due to its widespread consumption, there is an increasing demand for high-quality, pricey water. Many commercial organizations have begun offering water in bottled container because they recognize the value of simple packaging.
Due to a number of causes, including rising disposable income, the expansion of emerging economies, and shifting lifestyles, the demand for bottled water is consistently rising. Also, rising consumer expenditure on healthy beverages may help the demand for premium bottled spring water accelerate. Also, bottled water is convenient to transport, which supports the expansion of its market.
Due to the widespread use of spring water in the production of consumer goods, the demand for spring water decreased significantly on a global scale. In order to meet the increased demand, mainly in industrialized countries, some spring water manufacturing enterprises also had to expand their operations. The amount of spring water being produced has grown as a result. In addition, consumers are becoming more conscious of good hygiene and health habits, which is anticipated to increase demand for spring water after the COVID-19 epidemic. Due to the rapid spread of the COVID-19 virus, which had a significant influence on the market, the economic slowdown impacted the establishment of new spring water projects throughout the world.
The market for spring water worldwide is being accelerated by this factor. The food and beverage business is driven by ongoing urbanization, rising disposable income, and growing consumer desire for healthier water products. There is increasing demand for spring water as a result. Since spring water originates from a new underground water source, it lacks typical contaminants in drinking water. Pure spring water is also rich in minerals, which are excellent for health. Since spring water has a neutral or slightly alkaline pH, it helps to balance the body's acidity and prevents free radical damage. The growing awareness of the health advantages of spring water will aid the market's expansion in the following years.
The food service industry is expanding quickly across the globe. An expansion in hotels, restaurants and other food service outlets is due to an expanding consumer base and consumers' propensity to eat in different types of eateries. Also, the hospitality industry is expanding as a result of rising urbanization. The majority of eateries, hotels, and other food service establishments typically offer bottled water with meals. Owing to this expansion of the hospitality industry, there will be a significant increase in demand for spring water bottles.
Reverse osmosis (RO) is considered the finest method of water filtration. This method is thought to be the most efficient for getting rid of pollutants and disease-causing germs that may be present in drinking water. Also, customers are aware of the negative environmental effects of plastic bottles. Because of this, they favor reverse osmosis over bottled water. Because RO purifiers are effective at eliminating contaminants from water and are widely accessible in the market, most people are installing them in their homes.
By distribution channel, the spring water market is segmented into specialty stores, online retail, and hypermarkets/supermarkets. In 2021, the supermarket & hypermarket segment recorded a remarkable revenue share in the spring water market. The supermarket & hypermarkets hold a significant client base and significant food shop networks. This is expected to boost spring water sales in supermarkets and hypermarkets over the following years.
Based on packaging type, the spring water market is divided into bottled and canned. In 2021, the bottled segment held the highest revenue share in the spring water market. Bottled waters often have an infinite shelf life if not removed from their packaging and kept in suitable locations. Increased per capita spending, urbanization, and rising consumer knowledge of the health benefits of drinking bottled water are all expected to drive the bottled water demand ahead. Also, the demand from consumers for drinking water that is vitamin and mineral-rich and the superior taste and quality of bottled water is anticipated to drive market expansion. Over the forecast period, these are expected to be the main variables impacting the spring water market size.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 208.2 Billion |
| Market size forecast in 2028 | USD 347.2 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 7.8% from 2022 to 2028 |
| Number of Pages | 148 |
| Number of Table | 250 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Packaging Type, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the spring water market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, the Europe region led the spring water market with maximum revenue share. Throughout the forecast period, the market for spring water is anticipated to develop significantly due to the increasing percentage of health-conscious customers and the rising usage of packaged beverages. Bottled water is often offered with meals at hotels and restaurants across Europe, including those in Italy, France, Germany, and the United Kingdom. Also, fast-service restaurants are becoming a more prominent source of demand for spring water.
Free Valuable Insights: Global Spring Water Market size to reach USD 347.2 Billion by 2028
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.
By Packaging Type
By Distribution Channel
By Geography
The global Spring Water Market size is expected to reach $347.2 billion by 2028.
An increase in knowledge of the health benefits of spring water are driving the market in coming years, however, Growing use of RO purifiers restraints the growth of the market.
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.
The Specialty Stores segment acquired maximum revenue share in the Global Spring Water Market by Distribution Channel in 2021 thereby, achieving a market value of $149.5 billion by 2028.
The Europe market dominated the Global Spring Water Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $120.2 billion by 2028.
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