Global Premium Water Market Overview
Premium Water Market Size was estimated at 14.47 (USD Billion) in 2022. The Premium Water Industry is expected to grow from 15.53(USD Billion) in 2023 to 29.4 (USD Billion) by 2032. The Premium Water Market CAGR (growth rate) is expected to be around 7.34% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Premium Water Market Trends Highlighted
The premium water segment is currently experiencing growing interest in natural spring water, sparkling water and flavored water products. The choice of consumers for beverages that are considered healthy is increasing, and so is the demand for more wholesome beverages. Moreover, the increasing popularity of home delivery services has made it easier for consumers to order premium water from their homes.
Some of the factors that drive the market include increasing health and wellness consciousness, growth in disposable income, and evolving consumer tastes. As the health benefits of premium water become more well-known, more people opt for it instead of beverages that are full of sugars, and as disposable income increases, more individuals will be able to purchase premium water.
One of the new developments in the premium water market is the introduction of exciting new exhibitors trends and achieving sustainable packaging. A refreshing portable drink, flavored water, has faster gainful acceptance, especially among consumers who have a thirst and are looking for something sweeter and healthier hydration, while sustainable packaging concepts appeal to consumers with environmental concerns.
Premium Water Market Drivers
Rising Health Consciousness
Consumers are becoming increasingly aware of the health benefits of drinking premium water, such as its purity, mineral content, and lack of contaminants. This is leading to a growing demand for premium water products as consumers seek healthier alternatives to sugary drinks and tap water. The Premium Water Market Industry is expected to witness significant growth in the coming years, driven by the rising health consciousness among consumers.Key players in the market are focusing on product innovation and marketing campaigns to cater to the growing demand for premium water products.
Expansion of Distribution Channels
Another factor that drives the growth of the premium water market industry is the expansion of distribution channels. As premium bottled water is becoming more popular, such products are distributed through supermarkets, convenience stores, online stores, and others. It has become possible to purchase such water through various stores, making it more accessible for consumers.
Growing Popularity of Home Delivery Services
The Premium Water Market Industry is Increasingly Being Touched by Home Delivery Services’ Popularity as the Market Players Invest in their Infrastructure to Supply Premium Water Products to Customers. People are choosing to buy premium water products for their homes or their offices, and the companies providing them are seeing great demand for this service.
Premium Water Market Segment Insights
Premium Water Market Source Insights
The Premium Water Market is segmented by source into Natural Mineral Water, Spring Water, Purified Water, and Artesian Water. Natural Mineral Water held the largest market share in 2023, accounting for over 35% of the market. Spring Water followed closely behind, with a market share of over 28%. Purified Water and Artesian Water accounted for the remaining market share. Natural Mineral Water Natural Mineral Water is water that comes from an underground aquifer that is protected from contamination. It contains naturally occurring minerals and electrolytes, which give it a unique taste and health benefits.Natural Mineral Water is often bottled at the source and sold as a premium product. The Premium Water Market for Natural Mineral Water is expected to grow at a CAGR of 7.5% from 2024 to 2032, reaching a market value of over USD 10 billion by 2032. Spring Water Spring Water is water that comes from a natural spring. It is typically high in minerals and electrolytes, and it has a fresh, clean taste. Spring Water is often bottled at the source and sold as a premium product. The Premium Water Market for Spring Water is expected to grow at a CAGR of 6.8% from 2024 to 2032, reaching a market value of over USD 8 billion by 2032.Purified Water Purified Water is water that has been treated to remove impurities. It is typically distilled or reverse osmosis filtered. Purified Water is often used for drinking, cooking, and other household purposes. The Premium Water Market for Purified Water is expected to grow at a CAGR of 5.5% from 2024 to 2032, reaching a market value of over USD 6 billion by 2032. Artesian Water Artesian Water is water that comes from an underground aquifer that is confined by impermeable rock layers. It is typically high in pressure and minerals, and it has a unique taste.Artesian Water is often bottled at the source and sold as a premium product. The Premium Water Market for Artesian Water is expected to grow at a CAGR of 4.8% from 2024 to 2032, reaching a market value of over USD 4 billion by 2032. The growth of the Premium Water Market is being driven by a number of factors, including the increasing demand for healthy and convenient beverages, the rising popularity of premium water brands, and the growing awareness of the environmental impact of bottled water.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Premium Water Market Packaging Insights
The packaging segment plays a crucial role in the Premium Water Market, influencing consumer preferences and market dynamics. Among the various packaging formats, bottled water dominates the market, accounting for over 60% of the revenue in 2023. The convenience and portability of bottled water have made it a popular choice for consumers on the go. Canned water is another growing segment, gaining traction due to its sustainability and extended shelf life. Pouched water offers a lightweight and cost-effective alternative, while bag-in-box water is preferred for larger volumes and institutional settings.The Premium Water Market segmentation by packaging provides insights into the market share, growth potential, and competitive landscape of each segment, enabling stakeholders to make informed decisions and capitalize on emerging opportunities.
Premium Water Market Taste Profile Insights
The Taste Profile segment of the Premium Water Market holds immense potential for market growth. Still Water, Sparkling Water, and Flavored Water constitute the primary sub-segments within this category. Its popularity stems from its perceived purity and health benefits, making it the preferred choice for daily hydration. Sparkling Water, characterized by its effervescence and refreshing taste, commands a significant market presence, particularly among consumers seeking a more stimulating beverage. Flavored Water, infused with natural or artificial flavors, has emerged as a dynamic segment, driven by consumer demand for healthier alternatives to sugary drinks.Its versatility, with flavors ranging from fruits to herbs, appeals to a wide consumer base. As consumers become increasingly health-conscious, the demand for flavored water is anticipated to drive market growth in the coming years.
Premium Water Market Price Range Insights
The Premium Water Market segmentation by price range offers valuable insights into consumer preferences and market dynamics. The market is broadly classified into three segments Economy, Mid-Range, and Luxury. The Economy segment caters to value-conscious consumers seeking affordable options. With a market share of approximately 30% in 2023, this segment is expected to continue growing steadily due to its affordability and accessibility. The Mid-Range segment targets consumers seeking a balance between affordability and premium features. Holding a market share of around 45% in 2023, this segment is projected to witness significant growth driven by increasing disposable income and evolving consumer tastes.The Luxury segment caters to affluent consumers seeking exclusive and high-end water products. Occupying a market share of roughly 25% in 2023, this segment is anticipated to exhibit robust growth due to the growing demand for premium water experiences and personalized hydration solutions. As the Premium Water Market continues to expand, understanding the segmentation dynamics, including price range, is crucial for businesses to tailor their strategies and cater to the diverse needs of consumers.
Premium Water Market Distribution Channel Insights
The distribution channel segment plays a crucial role in the Premium Water Market. Retail stores hold a significant market share, driven by the convenience and accessibility they offer to consumers. In 2023, the retail stores segment was valued at USD 6.34 billion and is projected to reach USD 10.25 billion by 2032, exhibiting a CAGR of 6.5%. Online retailers are gaining traction due to the increasing penetration of e-commerce and the ease of doorstep delivery. The online retailers segment is anticipated to grow from USD 2.19 billion in 2023 to USD 4.39 billion by 2032, registering a CAGR of 8.3%.Subscription services are emerging as a popular distribution channel, providing regular deliveries of premium water to subscribers. The subscription services segment is expected to witness substantial growth, expanding from USD 1.56 billion in 2023 to USD 3.01 billion by 2032, with a CAGR of 8.1%. Foodservice establishments, including restaurants, hotels, and cafes, contribute to the distribution of premium water. The foodservice establishments segment is projected to grow from USD 2.42 billion in 2023 to USD 4.83 billion by 2032, exhibiting a CAGR of 8.9%.
Premium Water Market Regional Insights
The regional segmentation of the Premium Water Market offers insights into the market's geographical distribution and growth potential. North America is expected to dominate the market, with a significant share in 2023 and a projected valuation of USD 7.83 billion by 2032. Europe is anticipated to follow suit, with a market size of USD 4.56 billion in 2023 and a projected growth rate of 6.52% over the forecast period. The Asia Pacific region is poised for substantial growth, with a market size of USD 2.31 billion in 2023 and a CAGR of 8.36%.South America and the Middle East and Africa (MEA) are also expected to contribute to the market's expansion, with projected market sizes of USD 0.47 billion and USD 0.36 billion in 2023, respectively. These regions present growth opportunities for manufacturers and distributors due to increasing consumer demand for premium water products.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Premium Water Market Key Players And Competitive Insights
Major players in the Premium Water Market industry are constantly striving to gain a competitive edge by adopting various strategies such as product innovation, geographical expansion, and strategic partnerships. Leading Premium Water Market players are focusing on developing new and innovative products that cater to the evolving needs of consumers. They are also expanding their geographical presence by entering new markets and establishing partnerships with local distributors. Additionally, strategic partnerships with key players in the supply chain, such as packaging and logistics providers, are being forged to ensure efficient and cost-effective operations.Nestlé, a leading player in the Premium Water Market development, has a strong presence and a diverse portfolio of premium water brands, including Perrier, S.Pellegrino, and Acqua Panna. The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact. Nestlé continuously invests in research and development to enhance its product offerings and meet the changing demands of consumers.Danone, a key competitor in the Premium Water Market Competitive Landscape, is known for its strong brand portfolio, which includes Evian, Volvic, and Badoit. The company has a presence and a well-established distribution network. Danone emphasizes sustainability and ethical practices throughout its operations. It actively promotes healthy hydration and invests in initiatives to improve access to clean water in underserved communities.
Key Companies in the Premium Water Market Include
- Danone S.A.
- Nestlé S.A.
- Asahi Group Holdings, Ltd.
- Nongfu Spring Co., Ltd.
- Volvic
- Gerolsteiner Brunnen GmbH Co. KG
- Cott Corporation
- Keurig Dr Pepper
- PepsiCo
- Mineral Resources International
- Topo Chico
- The CocaCola Company
- Acqua Panna
Premium Water Market Industry Developments
The premium water market is projected to reach USD 29.4 billion by 2032, exhibiting a CAGR of 7.34% during the forecast period (2024-2032). The growing health consciousness among consumers and the increasing demand for convenient and healthy hydration options are the primary factors driving the market growth.Recent news developments in the market include the launch of new premium water brands, such as Alkaline88 and Flow Alkaline Spring Water, and the expansion of existing brands into new markets. The market is also witnessing a rise in strategic partnerships and acquisitions as companies seek to strengthen their position and gain access to new technologies and distribution channels. For instance, in 2023, Danone acquired the premium water brand Harrogate Spring Water to expand its portfolio and cater to the growing demand for premium water in the UK.
Premium Water Market Segmentation Insights
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Premium Water Market Source Outlook
- Natural Mineral Water
- Spring Water
- Purified Water
- Artesian Water
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Premium Water Market Packaging Outlook
- Bottled Water
- Canned Water
- Pouched Water
- Bag-in-Box Water
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Premium Water Market Taste Profile Outlook
- Still Water
- Sparkling Water
- Flavored Water
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Premium Water Market Price Range Outlook
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Premium Water Market Distribution Channel Outlook
- Retail Stores
- Online Retailers
- Subscription Services
- Foodservice Establishments
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Premium Water Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
14.47(USD Billion) |
| Market Size 2023 |
15.53(USD Billion) |
| Market Size 2032 |
29.4(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
7.34% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Danone S.A., Nestlé S.A., Asahi Group Holdings, Ltd., Nongfu Spring Co., Ltd., Volvic, Gerolsteiner Brunnen GmbH Co. KG, Cott Corporation, Keurig Dr Pepper, PepsiCo, Mineral Resources International, Topo Chico, The CocaCola Company, Acqua Panna |
| Segments Covered |
Source, Packaging, Taste Profile, Price Range, Distribution Channel, Regional |
| Key Market Opportunities |
Growing health consciousness Rising disposable income Increasing consumer preference for healthy beverages Demand for premium water in hospitality sector Technological advancements |
| Key Market Dynamics |
Rising health consciousness Growing disposable income Increasing demand for convenience Expanding distribution channels Emerging ecommerce platforms |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Premium Water Market is expected to reach USD 29.4 billion by 2032, exhibiting a CAGR of 7.34% during the forecast period (2024-2032).
North America is expected to dominate the Premium Water Market, accounting for a significant market share in 2023 and is projected to maintain its dominance throughout the forecast period.
Rising health consciousness, increasing disposable income, and growing demand for convenient and premium water options are the key factors driving the growth of the Premium Water Market.
Some of the major players in the Premium Water Market include Nestle, Danone, PepsiCo, The Coca-Cola Company, and Keurig Dr Pepper.
Premium water is available in various types, including sparkling water, still water, flavored water, and alkaline water.
The Premium Water Market is expected to exhibit a CAGR of 7.34% during the forecast period from 2024 to 2032.
The household segment is expected to be the major application segment, accounting for a significant share of the Premium Water Market.
The major challenges faced by the Premium Water Market include intense competition, stringent regulations, and environmental concerns.
Sustainability is becoming increasingly important in the Premium Water Market, with consumers preferring eco-friendly packaging and water sources.
Opportunities for growth in the Premium Water Market include product innovation, expansion into emerging markets, and strategic partnerships.
