( PR4US.com | Press Release | 2017-08-17 22:42:36 )
Mumbai, India – August 17, 2017 – Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘Bottled Water Market in India 2017’ (https://www.researchonindia.com/bottled-water-market-in-india-2031.html
). The Indian market for bottled water has gained a significant momentum, due to demand for convenient, safer, healthy and refreshing beverages.
Netscribes’ latest market research report titled Bottled Water Market in India 2017 states that the bottled water market is growing at a CAGR of ~22.3%. Growth in income and consumption, growth in urbanization and population, increasing level of health awareness, influx of foreign tourist and growth in retail market are major drivers for the industry. Moreover, bottled water is purified and contains dissolved minerals that have several health benefits. Major challenges that are affecting the market are increase in spurious bottled water brands, low penetration in rural market, and increase in transportation cost, brand category differentiation and increase in water purifiers. The BIS had formulated mandatory certification to avoid entrance of spurious brands and cancellation of licenses. High transportation cost affects the ability to have an inland presence, thereby benefitting only large establishments in India.
Key players in the Indian Bottled water market include Bisleri International Pvt. Ltd., Coca Cola India Pvt. Ltd., Danone Narang Beverages Pvt. Ltd., Dhariwal Industries Pvt. Ltd., Nourisco Beverages Ltd., Parle Agro Pvt. Ltd., Eureka Forbes Ltd. and Pepsico India Holdings Pvt. Ltd. In India there are 5000 manufacturers of packaged drinking water holding BIS license. Bottled water manufacturers are introducing new product with health benefits and new flavors which is resulting several product launches in the bottled water market. The new products offering functional benefits, better taste and convenience are preferred by consumers. Product innovation and hygiene factors are augmenting demand for bottled water market in India.
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