Global premium water growing 8% a year
A report has found that global sales of premium bottled water reached US$16.5 billion at consumer prices in 2017, 48% more than in 2012.
According to the report from Zenith Global, the global food and drink experts, consumption volume also rose strongly by 26% over the five years to 11.2 billion litres.
“This 8.1% annual value growth, compared with 4.8% annual volume growth, shows how premium waters are adding value for consumers,” commented Zenith Global chairman Richard Hall. “The most popular premium waters are high quality, differentiated and inspirational brands, often with distinctive, natural heritage.”
The overall bottled water market, including flavoured and functional waters, has been growing strongly in recent years. The main drivers have been healthy hydration, convenience, affordability and reliability.
Premium water perceptions can be subjective and may differ from one market to another. Zenith Global uses a combination of criteria including price, design, distribution, target audience, brand story, provenance, purity, water type and purchase frequency. Consumers may value provenance over purity in one country and the opposite in another.
The 2018 Zenith Global Premium Water Report highlights the dominance of Europe in both volume and value, as well as exploring the development of emerging markets, with a deep-dive into five key countries: China, Japan, United Arab Emirates, United Kingdom and United States.
It also assesses the relative importance of still or sparkling, along with water provenance and health claims. The report concludes with estimates for the segment’s future outlook.