Spring Water Market

Spring Water Market Research, 2031

The global spring water market share was valued at $210.7 billion in 2021, and is projected to reach $465.2 billion by 2031, growing at a CAGR of 8.7% from 2022 to 2031. Springs occur when there is the natural flow of groundwater onto the earth's surface due to water pressure. As rainwater enters or "recharges" the aquifer, pressure is applied to the existing water. This pressure forces water through the aquifer's cracks & tunnels, and this water naturally comes to the surface as springs.

The COVID-19 pandemic created several challenges that slowed the expansion of the spring water sector because to low demand from end-use companies. The pandemic had a significant impact on the spring water industry owing to supply chain disruptions. Additionally, owing to the rising concerns regarding contamination among consumers followed by rising awareness of health & hygiene practices, demand for packaged water increased during COVID-19

The rise in awareness of waterborne illnesses such as typhoid, diarrhea, and food poisoning has increased demand for spring water. In addition, the increased concern about numerous health-related concerns, such as gastrointestinal ailments, neurological disorders, and reproductive problems, increases the need for clean and sanitary spring water bottle. This is expected to drive the expansion of the bottled water market during the forecast period. Furthermore, factors such as an increase in urban population, surge in disposable income, rise in living standards, and the advent of eco-friendly container materials are important drivers driving the growth of the spring water market.

Increased efforts to reduce environmental pollution caused by improper disposal of spring plastic water bottles are expected to stymie industry growth. Environmentalists are increasing pressure on bottled water manufacturers for their production methods due to the high energy needs for water extraction, processing, and bottling. The environmental harm caused by improper spring plastic bottle disposal adds another layer to this problem and is anticipated most certainly to limit the  spring water market growth during the forecast period.

Spring water is packaged drinking water that has been purified and is free of contaminants. Spring bottled water is widely available in supermarkets and retail stores, usually in canned and plastic water bottles, and is the most convenient way for the body to meet its hydration demands. The worldwide spring water market is likely to expand during the forecast period owing to rise in consumer awareness of different health concerns, such as gastrointestinal disorders caused by consuming polluted water. Drinking water shortages in several areas enhance the need for clean drinking water, which promotes product sales and expands the market. In addition, expanding innovative work initiatives and modernizing new products are projected to create new opportunities for the spring water market during the forecast period.

The key players profiled in this 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 spring water market is segmented on the basis of packaging type, distribution channel, and region. By packaging type, the market is bifurcated into bottled and canned. By distribution channel, the market 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 spring water market is segmented into Distribution Channel and Packaging Type.

By distribution channel, the hypermarkets/supermarkets segment is anticipated to show the fastest growth during the forecast period. Supermarkets and hypermarkets offer a broad variety of consumer goods and food & beverage products, as well as convenience and significant discounts. It runs at convenient times and in easily accessible area. It has large number of customers and provides constant revenue to market players.

By packaging type, the bottled segment dominated the market in 2021. Bottled waters generally have a shelf life of an unlimited amount of time if they are not opened from their packaging and are stored in appropriate places. Growing consumer awareness of the health advantages of consuming bottled water, surge in per capita expenditure, and rapid urbanization are all anticipated to propel the Bottled Water segment forward. Furthermore, customer desire for vitamin & mineral-rich drinking water and the premium quality & flavor of bottled water are expected to fuel market growth. These are projected to be the major factors affecting the spring water market size during the forecast period.

By region, Europe accounted for a dominating market share in 2021. The high proportion of health-conscious consumers and the increase in use of packaged drinks are expected to be important driving forces in the growth of the spring water market during the forecast period. Furthermore, Germany had the greatest market share, while the UK had the fastest expanding market in this region.

Impact of COVID-19 on the Global Spring Water Industry

• COVID-19 has negatively impacted various industries such as consumer goods that has led to a drastic decline in consumer goods sales. As spring water is widely used in consumer good manufacturing, there was significant reduction in the spring water market demand globally.
• In addition, several spring water manufacturing companies had to expand their operations to fulfil the rise in demand, primarily in the developed nations. This has increased the production rate of spring water.
• Furthermore, consumers are becoming more aware of health and hygiene practices, which in turn is expected to enhance the demand for spring water post the COVID-19 pandemic.
• Economic slowdown affected the setup of new spring water projects across the world as majority of government fundings were diverted toward consumer goods sector owing to rapid spread of the COVID-19 virus, impacting the market to the great extent.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the spring water market analysis from 2021 to 2031 to identify the prevailing spring water market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the spring water market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global spring water market forecast.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global spring water market trends, key players, market segments, application areas, and market growth strategies.

 Spring Water Market Report Highlights