Topic > The Bottled Water Industry - 2197

MarketsWater is something anyone in the world can get for free from the tap, but it's now all the rage in the beverage industry. Bottled water has become the fastest-growing segment of the industry, both in terms of volume and profits. Due to consumers' needs and desire for a healthier lifestyle, the beverage industry provides consumers with a necessary product, namely bottled water. Water is essential and with the demand to adopt a healthy lifestyle, the water industry will be profitable. The market size for this industry has grown and will continue to grow at a rapid pace. Over the past decade, bottled water has gone from being the preserve of a relatively small market to the U.S. mainstream, with sales of around $7.5 billion—and that's just for water in 1.5-liter bottles. liters or less (Durr). According to the International Bottle Water Association, Americans spent $5.6 billion on bottled water in 2000. By 2005, Americans will consume 7.2 billion gallons of bottled water, up from about 5 billion gallons in 2000, the association reported. Above all, one factor that will continue to drive the bottled water market is the desire to live a healthy lifestyle. Which leads to concerns about contaminants in tap water. People will pay high prices for water, just to be sure that it is safe to drink the water they purchased. Drinking plenty of water also prevents dehydration. According to the Bottled Water Web (www.bottledwaterweb.com), 75% of Americans are chronically dehydrated. Most people know the health benefits of drinking water, which will push the consumer to drink water bottles more. At the same time, consumers who portable pack plastic bottles and above… middle of paper… are looking for a beverage that combines rehydration with vitamins and minerals, and 75% said they would buy fortified water. if available (Durr). According to Stephen Kay of the International Bottle Water Association in Alexandria, Virginia, people are demanding more from their foods and drinks, so they are choosing water with additional functions and attributes (Durr). With Americans focusing on fitness and a healthier lifestyle, companies are positioning fortified water as something better than water. It's just like water but with better characteristics and provides more of what water does. Aquafina Essentials is advertised as "enhanced water," and the label for Propel, a new product from Gatorade, describes the clear drink as "fitness water." While Propel targets athletes, Aquafina Essentials targets those who are very health conscious.