Manufacturers are extending their distribution network to ensure easy product availability for consumers, thereby pushing the bottled water packaging market size over the projected timeframe. Increasing concern of manufacturers to attain competitive advantage in the market has resulted in rising focus on attractive product which is likely to stimulate the bottled water packaging market size during the forecast period. Manufacturers are also investing heavily in marketing & advertising activities to attain an extended customer base to eventually capture high industry share.
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Stringent environment regulations imposed by government due to improper disposal of plastic bottles is likely to curb the bottled water packaging market size over the coming years. For instance, European Parliament & Council has imposed regulations regarding increasing usage of recyclable packaging material to reduce hazardous material in the environment and subsequently meeting packaging requirements. The industry has other constraints including large volume of energy requirement for extracting, processing and bottling is likely to hamper the bottled water packaging market size by 2024.
Based on material, bottled water packaging market size is segmented into PET bottles and glass bottles. PET bottle has contributed the maximum bottled water packaging market share owing to its lighter weight & easy portability for travellers across the world. However, due to stringent environment regulations imposed by government for using recyclable packaging material to reduce hazardous material in the environment. There is a shift in focus or availability of alternative sources of packaging for bottled water including glass. They are less preferred by travellers owing to higher weight and brittleness compared to PET bottles.
Regionally, North America accounted for the highest bottled water market share and is anticipated to remain at the top by 2024. It is due to rise in health consciousness among consumers which is likely to boost the bottled water packaging market size over the coming years. Furthermore, rising population & increasing purchasing power of consumers in developing regions of Asia Pacific is likely to stimulate the bottled water packaging market size during the forecast period.
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The key global bottled water market share contributors are Greif, Amcor, Plastipak, RPC, Graham, Kaufman Container, Greiner Packaging International, Alpha Group, Sidel International, Ampac and Silgan Holdings. Most of these players have presence across multiple stages of industry ecosystem. For instance, Silgan Holdings is engaged in both manufacturing & distributing packaging material for bottled water across the globe.