The South America Bottled Water Market is forecasted to register a CAGR of 9.4% during the forecast period (2019-2024).
Key Highlights
- South America bottled water market is expected to witness high growth fueled by strong demand for clean, flavored, and hygienic drinking water. The latest trend gaining momentum in this market is increased demand for bottled water with added minerals, vitamins, antioxidants, etc as the consumers are looking for bottled water with added health benefits.
- Sparkling water may cause health problems like digestive isuues therefore certain mandates are issued regarding the ingredients to be used in functional water. The bottled water market is appealing in Brazil with an increasing number of players every year, primarily due to positive sales.
Key Market Trends
Functional Water is the Fastest Growing Segment
The largest benefit functional water can provide is health benefit. Consumers are increasingly aware of the importance of being hydrated, and rising average temperatures. Along with hydration consumers also get additional nutritional boost which they may not get otherwise from normal water. It boost's the immune response of the body as it contains vitamins, minerals, herbs and others essential elements needed by the body. The broken water molecules clusters makes the boiling point higher which improves the hydration and nutrional capabilities of the water. This also has a positive health impact on diabetic and chronic diarrhea patients.
Brazil held a Major Market Share
Brazil is one of the largest economy of South America. Water Pollution is one of the major environmental concerns faced by the residents of the country. Poor water purification practices have put thousands of people at risk for contracting water-borne diseases. This is the reason which has led the consumers to purchase bottled water. Overweight and obesity are on continuous rise in the country, which has made it mandatory for the consumers to shift their preferences toward something free from calories. The demand has therefore shifted from the soft drinks and alcoholic beverages to functional, flavored and mineral water. This has boosted the sales and margins of companies operating within the industry and raised the overall production volume
Competitive Landscape
South America bottled water market is rapidly growing, with few global and a large number of local players with private label bottled water products. Some of them are FineWaters Media,LLC, Nestle, Danone, THE COCA-COLA COMPANY and Pepsico. The market competition is moderate, and the entrance of new market players is relatively easier as compared to the developed world. The low switching cost of consumers is providing good opportunities for new players to enter the market. New product launch, innovative products packaging, marketing, distribution, and consumer retention, have been a strong business strategy for market growth here.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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