We frequently take for granted the availability of bottled water because it is so widespread. In fact, if the price is fair considering the availability of the product, we might even ignore the expense of buying bottled water. However, it turns out that bottled water is actually fairly pricey when you look closer. Therefore, why is bottled water so pricey?
The production procedure itself is one factor in the high price of bottled water. Companies that sell bottled water are required to obtain their water from a natural source, purify it, and then put it in plastic bottles. Significant resources are needed for this, including labor, supplies, and transportation. Companies that sell bottled water must also adhere to a number of rules and quality standards, which drives up the cost of manufacture.
The extensive branding and marketing that goes into bottled water is another factor in its high price. Companies that sell bottled water invest millions of dollars yearly in branding and advertising. They design distinctive packaging, logos, and catchphrases to attract customers and set their products apart from those of other companies. The goal of these marketing campaigns is to establish an impression of value and quality that supports the higher price point.
Furthermore, there is a big market for bottled water, so businesses may charge more for it. Customers are prepared to pay for the convenience and alleged health advantages of bottled water, particularly in locations with limited access to clean drinking water. Because of this, corporations who sell bottled water can charge more for it than they would for other drinks or even tap water.
Although bottled water may be pricey, the industry is successful. With a market value of over $200 billion, the bottled water sector is one of the fastest-growing in the entire globe. With a market value of over $4 billion, the bottled water industry is extremely lucrative in India.
What is the best industry in India today? While selling bottled water is unquestionably profitable, there are numerous other markets with room for expansion. Among them are e-commerce, healthcare, and technology. The finest business in India ultimately depends on a range of variables, including market demand, rivalry, and individual preferences and abilities.
It is impossible to give a clear response as to which nation has the most fresh water. Brazil, Russia, Canada, Indonesia, and China are among the nations with the highest renewable freshwater resources, however, according to the World Bank.
What is the largest manufacturer of water bottles? With a market share of more than 20%, Nestle is the largest water bottle manufacturer in the world. PepsiCo, Coca-Cola, and Danone are further significant companies in the sector.
In conclusion, bottled water costs a lot because of the manufacturing process, branding and marketing initiatives, and strong consumer demand. There are other industries that have the potential to succeed in addition to the lucrative bottled water business. In addition, many nations have abundant freshwater resources, and Nestle is the largest water bottle manufacturer globally.