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Spring Water Market
Increased awareness of the benefits of hydration and the preference for low-calorie beverages.
The Spring Water market is on the rise owing to increasing consumer demand for healthy alternative beverages and increasing awareness regarding the benefits of hydration.” - SNS INSIDERAUSTIN, TX, UNITED STATES, November 20, 2024 /EINPresswire / --
The Spring Water Market was valued at USD 455.08 billion in 2023 and is expected to grow to USD 925 billion by 2032, at a CAGR of 8.2% over the forecast period of 2024-2032.
The Spring Water market is expanding with an increase in products that are premium quality offerings and due to a larger populace's proclivity towards an active lifestyle along with a healthy diet. The market is also being boosted by growing premiumization trends and consumers seeking to pay more for quality as well as sustainably sourced spring water
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Innovations in Spring Water Meet Rising Consumer Demand for Healthy Flavored Beverage Alternatives
The increasing focus of consumers toward hydration requirements coupled with healthy beverage alternatives has driven the growth of bottled water globally. It is the absence of calories and a free source to be sugar and artificial chemical-free that makes spring water a healthy beverage right next to sugary drinks and soda type. Plus, spring water quenches contain essential minerals beneficial for health, such as calcium, magnesium, and potassium.
Springwater companies are always innovating to build new products for changing customer needs. Introducing flavors (like lemon, cucumber, and mint) are also emerging from some spring water companies. The flavored spring waters have good sales among consumers looking for a refreshing and healthier choice than sugar-based drinks. It emboldened other spring water companies to get into the game as well - you can now buy nutrient-boosted spring waters (electrolytes, vitamins, etc.)
Spring Water Market Segmentation Insights on Packaging and Distribution
By Packaging: Bottled springs accounted for a leading share of revenue in 2023 with preference from consumers over convenience and portability as well as perception about quality. Bottled spring water attracts consumers of all strike if put concerning sizes and brands businesses secret families, food catering as well and crockery holders it rules period expiring the go.
Canned spring water is expected to have the fastest growth in CAGR of all 4 types from 2024-2032. This shift is due to the rising pull from consumers for eco-friendly packaging solutions, as cans are viewed as more sustainable and recyclable compared to plastic bottles. Plus, the increasing number of options for outdoor and canned goods also fits the changing lifestyle of healthy people who care about how they live.
By Distribution Channel: Supermarkets/Hypermarkets were the leading distribution channels in 2023 Spring Water with a high share because they cover a wide range of product lines for consumer buying behavior. Adding to that, these retail giants grant consumers easy access to multiple brands and packing options making them the default choice.
Online Sales are likely to register the fastest CAGR in the forecast period 2024-2032. E-commerce shopping is growing worldwide as today consumers prefer to shop online rather than compare products in a physical store due to the convenience. The growth of subscription services and direct-to-consumer models in the bev-al space should help spur this trend.
By Packaging
.Bottled
.Canned
By Distribution Channel
.Supermarkets/Hypermarkets
.Speciality Stores
.Online Sales
.Others
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Asia Pacific Leads Spring Water Market Growth and Consumer Demand
Asia Pacific accounted for the highest market share of spring water and it is anticipated that the region will grow at the highest CAGR during the forecast period 2024-2032 owing to the increasing disposable incomes, increasing health awareness, and increase in population demanding healthy beverages in this area. Diverse consumer preferences and developing retail infrastructure have led to the availability of range spring water brands making it a preferred choice among them in the region. This was supported by years of ongoing urbanization and a lifestyle change led by emerging economies, which have resulted in diets high on health-conscious consumption trends. Moreover, the growing trend towards eco-friendly packaging solutions and a rising preference for high-quality bottled spring water items in line with international trends focused on natural and sustainable products near the future are also likely to contribute to the growth of this market in this region.
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Recent Developments:
.In October 2024, The Municipal Corporation of Shimla plans to issue tenders for a new initiative to supply spring water to public toilets, aiming to conserve drinking water. This decision was made during a meeting chaired by Mayor Surender Chauhan.
.In June 2024, the Womble Team advised Liburdi Dimetrics on the sale of Midas Spring Water Company. The advisory aims to ensure a successful transaction and maximize value for Liburdi Dimetrics in this strategic market move.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
8. Spring Water Market, By Packaging
9. Spring Water Market, By Distribution Channel
10. Regional Analysis
11. Company Profile
12. Use Cases and Best Practices
13. Conclusion
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.