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Innovations in Bottled Water: NPD Opportunities in Flavored, Functional, Natural and Premium Waters
Business Insights, Oct 2007, Pages: 103
Between 2006 and 2010 the value of the combined US, European and Japanese bottled water market is projected to see a compound annual growth rate (CAGR) of 5.0%. Volume growth will be healthy at a projected CAGR of 4.7% for the total market. In value terms, Europe is the largest regional market for bottled water and this will remain constant over the period. Of all markets, the UK is projected to see the highest rate of value growth at 8.7%, from $2.4 billion in 2006 to $3.3bn in 2010. The largest single market is the US market, with a value in 2006 of $15.3bn, projected to rise by $4.0bn by 2010. In monetary terms, this represents the greatest value growth, driven by the size of the market and a high projected CAGR rate of 6.0%. The still unflavored water category is the largest of all the bottled water categories. In 2006 the combined markets of Europe, the US and Japan was estimated to be worth $32.4bn. Still unflavored water is also by far the largest bottled water category in terms of volume sales. In 2006, volume sales for this category were estimated at 56.3bn liters. This is projected to rise by 12.1bn liters to a new level of 68.4bn liters in 2010.
Some key findings from this report...
-There has been a decline in the number of manufacturers making overt health claims on their packaging, and this has resulted in an ‘apparent’ decline in the health drinks category. However, subtle health positionings are important in NPD.
-25% of all Asia-Pacific new product introductions are occurring in the Chinese market in 2007. The Chinese market is growing stronger and challenging the traditional dominance of NPD in the Japanese market.
-US bottled water NPD centres on natural and pure, kids and functional products. The US has a particular problem with childhood and adult obesity, and the switch to healthier functional products is a key trend affecting the bottled water market.
-Manufacturers are aligning themselves with the beauty industry and developing products to aid weight control, skin health, and wellbeing. A close link between hydration and beauty is being promoted.
-New packaging solutions will form a major part of brand extension activity as manufacturers reach new markets with more convenient packaging formats.
This new report will enable you to...
-Quantify the value, size, geography and growth potential of the bottled water market using this report’s data for key categories including still and sparkling, flavoured and unflavoured waters across Europe, the US and Japan.
-Identify the key trends in bottled water NPD providing the greatest growth potential with this report’s analysis of trends within health, premiumization, ethical and convenience.
-Benchmark leading manufacturers NPD with this report’s analysis of the corporate strategies and market shares of Groupe Danone, Nestlé and PepsiCo and the product positioning strategies being introduced to comply with legislation.
- Improve targeting and the effectiveness of your NPD strategies with this report’s analysis of innovation by category, region, product tag and flavour using global Productscan data from over 1,200 bottled water product launches between 2004 and 2007.
Key issues examined in this report...
-Obesity. Growing awareness of the dangers of obesity is driving demand for healthy alternatives to sugary carbonated drinks.
-European legislation. Manufacturers will be unable to make health claims that have not been ratified by the European Food Safety
Authority. This has led to more subtle health propositions being brought to market.
-Environmental issues. Significant trends over the next five years will include finding alternatives to reduce packaging, replace PET bottles and increase bio-plastic usage.
-Premiumization. The market for premium products is set to show healthy growth, particularly in the lesser developed categories of flavoured still and sparkling water and unflavoured sparkling water.
-Health and wellbeing. Drinks with functional ingredients intended to help with specific health issues are common to the Japanese market and are growing in popularity in the US and Europe.
Your questions answered...
-How much will the bottled water market grow by over the period 2006-2010?
-Which bottled water categories will see the highest value and volume growth rates?
-What are the major trends influencing bottled water NPD?
-How are the new government regulations relating to health claims influencing product categorization and positioning?
-How are environmental concerns influencing bottled water packaging NPD?
-What NPD trends are likely to remain niche and what trends are likely to become mainstream?
-Which emerging trends are being championed by the top global bottled water manufacturers?
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