Packaged water to become soft drinks leader in 2015
Global consumption of bottled water has doubled in the past decade, and is set to continue growth to replace carbonates as the leading soft drinks category.
It was not that long ago that the idea of buying water in a bottle seemed outrageously quirky to most people, but over the past few decades the demand for packaged water has rocketed exponentially. Just ten years ago world consumption stood at one hundred billion liters. Since then, and despite the global downturn, volumes have actually doubled. Perhaps even more amazing is that, according to Canadean’s latest calculations, packaged water will actually overtake carbonates as the leading soft drinks category in just two years. This anticipated result is being bolstered by its healthy image, plus actual necessity in those areas of the world lacking alternative, safe, water supplies.
The main thrust behind this category re-positioning is coming from Asia. Volumes here are predicted to rise by around 16% in this year alone; that is more than twice the global rate of increase. Yet, the region already absorbs one in every three liters of packaged water consumed around the world. But per capita intake remains well below the international average, especially in under-developed markets like Pakistan, the Philippines and Vietnam where it is still less than ten liters per capita. This underlines the huge market potential still to be released in this part of the world.