Worldwide, the bottled water industry has been expanding quickly as consumers become more health conscious and willing to spend more on products that support their wellbeing. The market for bottled water was estimated to be worth USD 217.1 billion in 2020 and is anticipated to increase to USD 307.6 billion by 2028, with a CAGR of 4.8% between 2021 and 2028. Without a doubt, the bottled water industry is a lucrative one, and in the years to come, it is predicted to expand even more.
Given that it is a branch of the bottled water industry and satisfies consumer demand for clean, safe drinking water, the packaged drinking water sector is also profitable. From 2021 to 2028, the packaged drinking water market is anticipated to expand at a CAGR of 7.2%. The need for clean, safe drinking water is on the rise, and people are becoming more aware of the value of staying hydrated for a healthy lifestyle, which is why the packaged drinking water industry is expanding.
Selling water can be profitable as long as it’s done properly. The bottled water market is extremely competitive, so in order to succeed, one must set their product apart from the competition. This can be accomplished by using premium materials, creating distinctive packaging, and highlighting the advantages of drinking water for your health. Targeting particular niches, like as the fitness business, can also be a successful tactic.
As long as the company follows tight quality control procedures, water bottling is also a profitable venture. The success of a water bottling company is greatly influenced by the safety and quality of the bottled water. To guarantee that the water is safe for consumption, the bottled water industry is heavily regulated, and businesses must adhere to tight standards. Therefore, spending money on quality control procedures is essential for a water bottling company to succeed.
In conclusion, the bottled water industry is lucrative, and further growth of the worldwide market is predicted. Companies must follow stringent quality control procedures and set themselves apart from competitors in order to succeed in this sector. Targeting particular niches and highlighting the advantages of drinking water for your health can also be profitable tactics. Due to intense competition in the bottled water market, businesses must be prepared to make investments in quality control procedures to guarantee the reliability and caliber of their goods.
There are various processes involved in starting a water business, including market research, business planning, securing the required permits and licenses, locating a water source, choosing a location, investing in equipment, and marketing and advertising. The sort of water you will sell—such as purified, mineral, or spring water—as well as your target market should be decided upon. Success may also depend on creating a strong brand identity and forming connections with distributors and retailers. It is also crucial to make sure that all laws, rules, and safety requirements are followed. Starting a water business can also benefit from seeking advice from industry professionals or working with a business advisor.