Spring Water Market Expected to Reach $465.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Spring Water Market," The spring water market size was valued at $210.70 billion in 2021, and is estimated to reach $465.2 billion by 2031, growing at a CAGR of 8.7% from 2022 to 2031.

Concerns about several health difficulties caused by contaminated water, such as neurological disorders, reproductive troubles, and gastrointestinal illness, have raised global demand for hygienic and pure spring water. Manufacturers of spring water say that their bottles seals keep water from bacterial contamination regardless of storage duration. Mineral water is getting increasingly popular all around the world. As a result, the spring water industry is progressively focusing on generating improved and novel water products while preserving the core characteristics of naturalness and hydration of ordinary plain water. As a result, the spring water industry has seen several product debuts and developments.

The spring water market demand has grown as people become more aware of waterborne illnesses such as malaria, typhoid, dysentery, and food poisoning. Additionally, as awareness of various health-related issues, such as neurological diseases, reproductive difficulties, and gastrointestinal diseases develops, so does the need for safe and pure spring water. This might help the spring water sector throughout the forecast period. Factors such as urban population growth, more disposable income, higher living standards, and the development of eco-friendly container materials are important drivers of the spring water market's expansion this factors are dive the market growth.

Rise in environmental pollution caused by spring water plastic bottles and a lack of awareness about health issues caused by low-cost tap water are expected to be major limiting factors for the spring water market. Moreover, spring water is expensive when compared to other drinks, which may restrict the Spring Water Market Growth.

Spring water provides much needed oxygen to the body & brain, aids digestion, aids in weight maintenance, and tastes delicious. Spring water is never flat or boiled. It makes for an excellent drinking experience that is also beneficial to the body. The growth in importance of wellbeing and health among consumers drives the customer’s desire for nutrient-fortified spring water. Spring water demand is growing among travelers and working professionals. These factors are anticipated to boost the spring water market opportunity in the upcoming years.

The spring water spring water market is segmented on the basis of packaging type, distribution channel, and region. By packaging type, it is bifurcated into bottled and canned. By distribution channel, it is classified into hypermarkets/supermarkets, specialty stores, and online retail. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the spring water market analysis report include Orient Beverages Pvt. Ltd. (Bisleri International Pvt. Ltd.), CG Roxane, LLC, Nestle S.A., PepsiCo, Ten Spring Water, Coca-Cola (Valpre), Danone (Evian), 3 Spring Water, Mountain Valley Spring Water (Primo Water Corp.), and Tata Consumer Products Limited (Himalayan)

The report offers a comprehensive analysis of the global spring water market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working toward the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers & suppliers, threats of new players, and emergence of substitutes in the market.

Impact of COVID-19 on the Global Spring Water Industry

• Sales of spring water is directly proportional to the demand from consumer goods industry. However, the consumer goods sector was negatively impacted by the COVID-19 pandemic that affected the production and demand for spring water market share due to disrupted supply chain.
• COVID-19 impacted almost all industries and the spring water producing companies ceased their operations owing to import-export restrictions, lockdown imposed across several countries, shortage of labor; and the fear of contracting the novel coronavirus led to sluggish demand in the market.
• Social distancing norms, closed borders, and production constraints due to the pandemic across various countries such as China, India, and the U.S. have affected the global market.

Key Findings of the Study

• By packaging type, the bottled segment emerged as the global leader in 2021 and canned segment is anticipated to be the fastest growing segment during the forecast period.
• By distribution channel, the specialty stores segment emerged as the global leader in 2021 and hypermarkets/supermarkets appliances segment is anticipated to show the fastest growth in the upcoming years.
• By region, the Europe market registered the highest market share in 2021 and Asia-Pacific is anticipated to show the fastest growth during the forecast period.