Spring Water Market Size, Share, Industry, Forecast and outlook (2024-2031)

Spring Water Market is segmented By Packaging (Bottled, Canned), By Distribution Channel (Supermarkets/Hypermarkets, Speciality Stores, Online Sales, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.

Spring Water Market Overview

The Global Spring Water Market reached US$ 224.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 420.8 billion by 2030. The market is expected to exhibit a CAGR of 8.2% during the forecast period (2023-2030).

Natural spring water is a type of water that comes from an underground source and is rich in minerals. It is often bottled at the source and sold as a premium product due to its perceived health benefits and refreshing taste. The spring water sources can vary widely in location and geological characteristics, such as rock formations and soil types. The spring water collection involves tapping into the underground source using wells or boreholes, and then pumping the water to the surface for bottling.

The spring water market has experienced robust growth in recent years, driven by increasing consumer demand for healthier and convenient hydration options. Factors such as health consciousness, concerns about tap water quality, and the preference for refreshing beverages have contributed to the market's expansion. Additionally, the market has witnessed innovation in packaging, flavors, and sustainability efforts, further fueling its growth.

Spring Water Market Scope

Spring Water Market Dynamics

Strict Quality Standards Drive Growth and Consumer Confidence in the Spring Water Market

According to the spring water market analysis, one key driver of the spring water market is the strict spring water quality standards that ensure the purity and safety of the water. Regulatory bodies set rigorous standards for spring water quality, including permissible levels of bacteria, minerals, and other impurities. These standards help to build consumer trust and confidence in the safety and quality of the product. According to the International Bottled Water Association, in the US, over 98% of all spring water sources and finished products met or exceeded federal, state, and industry quality standards.

This statistic reflects the industry's commitment to ensuring the highest level of quality and safety for consumers. As consumers continue to prioritize health and wellness, the focus on meeting and exceeding these standards is expected to drive continued growth in the spring water market, along with increasing spring water market share and the spring water market trend towards providing premium, sustainable, and flavorful hydration options.

The Spring Water Market Faces Environmental Challenges from Packaging, Sourcing, and Filtration Costs.

According to the spring water market analysis, One key restraint of the spring water market is the environmental impact associated with packaging, specifically spring water packaging. According to the International Bottled Water Association, the bottled water industry in the United States achieved a recycling rate of 33.8% for PET plastic bottles in 2019. This highlights the need for improved recycling efforts to reduce the environmental footprint.

Another challenge lies in ensuring sustainable sourcing of spring water, as the industry faces scrutiny over water extraction practices. Additionally, implementing effective spring water filtration processes can be costly. The International Bottled Water Association estimates an annual expenditure of approximately $115 million for water treatment and quality testing in the industry which can impact the spring water market share.

Overcoming these restraints requires proactive measures such as promoting sustainable packaging alternatives, responsible sourcing practices, and investing in cost-effective filtration technologies to address environmental concerns and ensure a sustainable future for the spring water market.

Spring Water Market Segment Analysis

The global spring water is segmented based on packaging, distribution channel, and Region.

Bottled Springs Dominate the Global Spring Water Market, while Canned Springs Gain Ground for Convenience and Sustainability

The global spring water market is segmented based on packaging into bottled and canned. In the spring water market, both bottled and canned packaging options are widely used. Bottled spring water is traditionally more prevalent and popular among consumers. According to the International Bottled Water Association, in the United States, bottled water accounted for approximately 91.4% of the total volume of sales in 2020.

Moreover, the spring water market analysis indicates, canned spring water has been gaining traction in recent years, driven by factors such as convenience, portability, and sustainability. The use of cans is appealing to environmentally conscious consumers due to their recyclability and reduced plastic waste. The market share of canned spring water is increasing, albeit still lower than that of bottled spring water, the bottled spring water segment, boosting the overall spring water market share.

Source: DataM Intelligence Analysis (2023)

Spring Water Market Geographical Penetration

North America's Spring Water Market Surges Amid Growing Health and Sustainability Demands

North America is the largest market for spring water globally. The spring water market in the region has witnessed significant growth due to factors like convenience, health consciousness, and concerns about tap water quality. Spring water purification ensures that the water is sourced from natural springs and undergoes minimal processing to preserve its natural qualities. Bottled spring water, meeting regulatory standards, are packaged at the source. The mineral content in spring water varies depending on the geological characteristics of the water source.

According to the spring water market analysis, the market share of spring water brands has been steadily increasing. The spring water market trend is shifting towards premium offerings, sustainable packaging solutions, and innovative flavors to cater to evolving consumer preferences. This trend reflects the industry's focus on providing high-quality, eco-friendly products that meet the demand for refreshing and health-conscious hydration options.

Source: DataM Intelligence Analysis (2023)

Competitive Landscape

The major global players include Orient Beverages Pvt. Ltd., CG Roxane, LLC, Nestle S.A., Bluetriton Brands, PepsiCo, Berrington Water, Ten Spring Water, Coca-Cola, Danone, and Himalayas ONTOP.

COVID-19 Impact Analysis

The COVID-19 pandemic had both positive and negative impacts on the spring water market. On the positive side, there was increased demand for bottled water as consumers sought safe and convenient hydration options. However, the closure of restaurants, offices, and public spaces led to a decline in the on-the-go consumption of bottled water. Overall, the market experienced fluctuations due to shifting consumer behaviors and restrictions on business operations            

By Packaging

• Bottled
• Canned

By Distribution Channel

• Supermarkets/Hypermarkets
• Specialty Stores
• Online Sales
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On April 06, 2021, Nestlé Waters, one of the world's largest bottled water companies, announced the sale of its North American spring water brands to private equity firm One Rock Capital Partners. The new entity formed from this transaction was named BlueTriton Brands.
• On February 03, 2023, Primo Water Corporation, a leading provider of sustainable drinking water solutions in North America and Europe, today announced that Primo Water has acquired an additional spring water source adjacent to its current Mountain Valley spring in Garland County, Arkansas.
• On October 13, 2020, Primo Water Corporation, a leading provider of water direct to consumers and water filtration services in North America and Europe as well as a leading provider of water dispensers, purified bottled water, and self-service refill drinking water in the U.S. and Canada, today announced that Primo Water North America, a wholly-owned subsidiary of Primo, has acquired substantially all of the assets of Mountain Valley Water Company of Los Angeles.
• Why Purchase the Report?

• To visualize the global spring water market segmentation based on packaging, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of Spring Water market-level with all segments.
• The PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global spring water market report would provide approximately 53 tables, 47 figures, and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

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