The Global 5-Gallon Water Bottles Market is projected to reach the valuation of USD 10,234.50 Million by 2026 with a CAGR of 2.2%
Published | September 2020
According to BlueWeave Consulting, Global 5-Gallon Water Bottles Market is projected to reach a valuation of USD 10,234.50 Million in 2026 from USD 7,856.88 Million in 2019, at a CAGR of 2.2% during the projection period of 2020-2026. The market is primarily spurred by the rising awareness of health and an improved consumer lifestyle. The 5-gallon Water Bottles Market will witness rapid growth induced by strong demand for safe and hygienic drinking water. An improvement in user-friendly packaging is another significant factor driving the 5-gallon Water Bottles Market. Strict regulations concerning water packaging and 5-gallons bottled water quality, however, may hamper the market growth to some degree. In addition, easy tap water availability and the concerns about rising plastic waste are expected to pose a challenge to industry participants.
"Top-Loading Bottled Water Dispenser caters to the major market amidst device offering in 5-Gallon Water Bottles Market."
Based on device offering, the global 5-Gallon Water Bottles Market is segmented into Top-Loading Bottled Water Dispenser and Bottom-Loading Bottled Water Dispenser. Top-Loading Bottled Water Dispenser caters to large market share amidst device offering in 5-Gallon Water Bottles Market across the globe. Pesticides, fertilizers, germs, nitrates, copper and lead; several things contaminate the drinking water, which is the major reason why people opt for purified 5-gallon water delivery. Consequently, it propels the demand for top loading and bottom loading water dispenser in the global market. Bottom loading water dispensers and top loading water dispensers share the same 5-gallon water bottle; the only difference is the loading procedure and usage.
"Asia-Pacific is the lucrative market across globe for 5-Gallon water bottle device and service sector."
Based on the region, the global 5-gallon Water Bottles Market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is the lucrative market across the globe for 5-Gallon water bottle device and service sector. In the region, portability, ease of use and installation and low maintenance costs are some of the factors driving the market for a water dispenser. Scarcity of potable water in some areas requires robust sources to meet the rising demand for safe drinking water, consequently leading to higher demand for bottled water. Besides, promotional efforts by the leading producers, after-sales services and low maintenance often help to drive the demand. Furthermore, the introduction of a range of products with advanced top and bottom loading dispensers coupled with self-cleaning methods, such as top load and wall-mounted further stimulates the market. The aforementioned factors are expected to enhance the demand for 5-gallon water bottles during the forecast period.
"Growing concerns towards health is the key growth driver for 5-gallon bottles."
In life, health is a vital aspect-being free from illness or injury directly affects people's capacity to produce and consume valuable goods and services. Lakhs of people die of treatable and preventable diseases and chronic illnesses owing to lack of access to deliver the food, water, and medicines. Scarcity of fresh potable water among the major population drives the growth of 5-gallon water bottles device and services globally. In low and middle-income countries, around 38% of health care facilities lack an improved water source, over 19% do not have improved sanitation, and 35% lack water and soap for hand-wash. The factors mentioned combined with growing awareness among the population for adoption of clean water delivery and usage services, accelerate the market of global 5-gallon water bottles.
"The leading players" in 5-Gallon Water Bottles device and service Market include Primo, Midea, Cott Corporation, Agthia's, Danone, Costco, Nestle, Brio, Blue Star, Voltas, Whirlpool, Hitachi, Hawaii water, Panasonic, Honeywell, Hamilton Beach and Other Prominent Players. They engage in strategic alliances to reach a wider customer base and improve operations.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global 5-Gallon Water Bottles Market size & Projection. The report promises to provide state-of-the-art technology of 5-Gallon Water Bottles and industry insights which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges and competitive dynamics of the market.
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