Expansion in Food & Beverage Sector Fueling Growth in Bottled Water Market in India
New York, NY, September 15, 2013 --(PR.com
)-- Global market intelligence firm, Netscribes, Inc. released its latest report on the "Bottled Water Market in India 2013." Increasing demand for clean and safe drinking water is expected to accelerate the demand for Bottled Water in the Indian market.
Netscribes’ latest market research report titled Bottled Water Market in India 2013 covers a wide spectrum of concerns with regard to the bottled water industry and identifies several factors impacting the sale of bottled water in India. The shortage of safe drinking water around the world, especially in the third world countries, has opened up new avenues of opportunity for the bottled water industry. Bottled water is drinking water that has been treated to make it clean and packaged in plastic or glass bottles meant for sale. Bottled water industry caters to one of the most thriving markets within the country. Right from the year 1995, the bottled water industry has witnessed healthy growth in terms of the number of licensed units and market size. The consumption of smaller bottled water units of 500 ml capacity has increased by around 140% perceptibly. The 20-liter bulk water jars have found phenomenal acceptance in households and at workplaces. Due to the growing market size, one can expect a substantial increase in employment opportunities within the bottled water segment in the near future.
The bottled water industry is also witnessing rapid global market growth owing to rising health concerns of the ever-increasing population. India is a country that has witnessed one of the fastest rates of growth in Asia, at more than 20% per annum. Identification of product innovation opportunities by key players has also led to a surge in demand for bottled water. The extensive use of advanced technology in water purification methods is yet another move of strategic importance. The report also identifies a few pain points in the industry that includes spurious product differentiation and low rural penetration. The Bureau of Indian Standards has formulated the following standards which provide quality norms for packaged water – IS 14543:2004 Packaged drinking water (other than natural mineral water) (First Revision) and IS 13428: 2005 Packaged natural mineral water (Second Revision).
Every company is trying to introduce new and unique flavors in the market and they are also working on different strategies to make their products more popular. A number of companies are trying to capture the untapped segment of the market aimed at children. The rural market in India has huge growth potential in this regard. With the availability of a wide range of options, Indian consumers have become much more brand conscious these days. Consequently, the domestic juice market has also witnessed the emergence of a number of branded players. Private label juice brands are also expected to grab a larger share of the market, with the government announcing FDI in multi-brand retail. Current trends suggest that the domestic players are competing well with the multinational companies. Entry of smaller brands is also a very good sign for the overall juice market in India.