A form of bottled water that distinguishes itself through its unique branding or packaging, together with its purportedly superior quality, purity, and flavor, is referred to as "premium bottled water". While ordinary bottled water is sourced from municipal water supplies or natural springs, premium bottled water is sourced from remote, unspoiled areas that are known for their exceptionally high water quality, such as underground artesian aquifers or streams fed by glaciers.
Europe Premium Bottled Water Market Driving Factors and Challenges
Drivers:- There is an increasing demand for premium, high-quality bottled water that is believed to offer greater taste and purity due to consumers' growing concerns about their health and well-being. This trend is also being driven by shoppers' concerns about environmental sustainability, as they are drawn to luxury brands that prioritize eco-friendly packaging and sustainable sourcing. Moreover, the European market offers opportunities for specialized and specialty premium water products tailored to diverse lifestyles and demographics because to the wide diversity of customer preferences and tastes that can be found there.
Challenges:- The European market for high-end bottled water faces several major challenges. One of the biggest challenges is the growing competition among companies vying for customers' attention and market share. This rivalry is putting pressure on prices and profit margins, especially as consumers become more discerning and value-conscious. In addition, manufacturers of luxury bottled water encounter challenges in adhering to stringent regulations and satisfying evolving consumer demands for environmentally conscious packaging and sustainable sourcing practices because of regulatory worries around plastic waste and environmental sustainability.
Impact of COVID-19 on Europe Premium Bottled Water Market
The COVID-19 pandemic has had various effects on the European market for high-end bottled water. Demand for the market originally surged as residents stocked up on essentials like bottled water amid lockdowns and concerns that the sickness would spread to public water sources. However, as the pandemic expanded and people's anxieties about money grew, consumer purchasing patterns altered, which led to fluctuations in the market for upscale bottled water. The significant restrictions on the travel, tourism, and hospitality industries caused significant delays for important distribution channels for premium bottled water, such as hotels, restaurants, and cafés. Sales volume was impacted by this.
Europe Premium Bottled Water Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; Danone SA, Ferrarelle SpA, Fonti di Vinadio SpA, Gerolsteiner Brunnen Gmbh & Co. Kg, Highland Spring Limited, Nestle SA, PepsiCo Inc., RheinfelsQuellen H. Hovelmann GmbH & Co. KG, Sanpellegrino Group, The Coca-Cola Company, Others.
Europe Premium Bottled Water Market Segmentation:
By Type: Based on the Type, Europe Premium Bottled Water Market is segmented as; Carbonated Bottled Water, Still Bottled Water, Flavored/Functional Bottled Water.
By Distribution Channel: Based on the Distribution Channel, Europe Premium Bottled Water Market is segmented as; Supermarkets, Convenience Store, Online Retail.
By Region: This research also includes data for United Kingdom, Germany, Spain, France, Italy, Russia, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.