Growing worries about the safety and purity of tap water have contributed to the growth of the bottled water industry in recent years. The fact that consumers are prepared to pay more for bottled water has resulted in huge profits for businesses in the sector. How much money is generated by the bottled water industry annually?
The market for bottled water was estimated to be worth $217.8 billion globally in 2020, and Statista predicts that it will rise to $307.6 billion by 2028. The bottled water market was estimated to be worth $24.1 billion in the United States alone in 2020. These figures show how very profitable the bottled water sector is.
Given that the market for bottled water is anticipated to grow over the next few years, investing in water can be a good financial move. Water is a limited resource as well, and as the world’s population continues to rise, so will the demand for potable water. If you want to generate money and benefit society at the same time, investing in businesses that deal with water treatment, filtration, and distribution can be a wise choice.
Selling water can also be a successful business, but it costs a lot of money to get started. It can be costly to obtain the specific equipment, licenses, and permits needed for water bottling and distribution. Furthermore, there is a lot of competition in the bottled water business, making it difficult to build a new brand and increase market share.
As more people become aware of the possible problems involved with drinking tap water, the water industry is undoubtedly expanding. The global market for bottled water is anticipated to expand at a compound annual growth rate of 7.4% from 2021 to 2028, according to a study by Grand View Research. This expansion is fueled by elements including rising disposable income, growing preference for practical and secure drinking water, and rising health consciousness.
The world economy is significantly impacted by the enormous bottled water business. Profits in the sector will increase as long as people desire clean, convenient drinking water. Water investment can be a wise financial decision, but it need considerable thought and analysis. In the end, the bottled water market is here to stay, and those who can successfully negotiate its complexities stand to benefit financially significantly.