Japan Bottled Water Market Reflecting Robust Growth: Forecast to Grow at a CAGR of 7.1% by 2028
Published | 17 January 2022
Japan bottled water market is growing at a high CAGR because of the increasing water pollution levels and growing health concerns among consumers. Read on to learn more about the factors driving the growth of Japan’s bottled water market….
A recent study, conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that the Japan bottled water market is estimated to grow at a CAGR of 7.1% during the forecast period of 2022-2028. Japan bottled water market is flourishing at a high rate because of the increasing water pollution levels and declining access to safe drinking water in the country, which is prompting Japanese citizens to shift towards bottled water. The increasing health consciousness among consumers is also acting as a major driving factor for market growth. Furthermore, with increasing market scope, the industry players are launching a wide range of bottled water and are significantly focusing on improving their distribution channels to boost the product’s accessibility, thereby propelling the Japan bottled water market forward. However, increasing concerns surrounding environmental pollution by single-use plastic water bottles may act as a major restraining factor to this market during the forecast period.
Declining Water Quality Levels in Japan Anticipated To Drive the Market Growth During the Forecast Period
Japan is one of the countries that offer exceptionally clean and drinkable tap water. However, several instances of declining water quality that have affected the trust of its citizens have emerged in recent years. It has been reported that some tap water contained radioactive materials, making it unsafe for babies to drink. Additionally, increasing acidity levels have adversely affected Japan's lakes, rivers, and surrounding waters as a result of industrial pollutants. Thus, the pollution levels in the surface water of rivers and streams significantly affect people's access to safe drinking water. Due to these factors, the demand for bottled water is projected to surge across Japan during the forecast period.
Increasing Spending on Advertisement and Marketing Boosting Japan Bottled Water Market Growth
Advertisements and marketing campaigns play an important role in driving sales in any industry. The same holds true for Japan's bottled water market. Japanese players lavishly invest in these strategies to boost their market sales. Bottled water appeals primarily to working adults between the ages of 25 and 44. Therefore, the market players offer attractive packaging to attract consumers. They also establish partnerships with offices, sponsor events, and offer their products as refreshments during charitable events, etc.
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Japan Bottled Water Market - By Distribution Channel
Based on distribution channels, the Japan bottled water market is grouped into on-trade, off-trade segments. The off-trade segment dominates the Japan bottled water market. This segment is further classified into supermarkets/hypermarkets, convenience stores, retail stores, specialty stores, online channels, home & office delivery, and others. Among these, the convenience stores segment holds the largest market share owing to the availability of a wide range of bottled water brands of different sizes in such stores. Furthermore, the presence of a high number of convenience stores in Japan also drives its market growth.
Impact of COVID-19 on Japan Bottled Water Market
The Japan bottled water market was negatively impacted by the unprecedented COVID-19 outbreak. The demand for bottled water in the country witnessed a sharp decline as the Japanese government announced a state of emergency across the country as soon as the coronavirus was declared a pandemic by the WHO. The operations of major on-trade distribution channels of bottled water, such as airports, railways, hotels, restaurants, were restricted, which directly affected the market demand for bottled water. Furthermore, restrictions were placed on foreign arrivals due to the high risks of COVID-19 spreading on a global level, which also impacted market growth.
Japan Bottled Water Market- Competitive Landscape
The leading players in the Japan bottled water market are Suntory Holdings Limited, The Coca-Cola Company, Asahi Group Holdings, Ltd., FamilyMart Co., Ltd., Evian, Aqua Clara, Otsuka foods, FIJI Water, Dr. Silica Sdn Bhd, Fillico, and other prominent players.
The Japan bottled water market is highly fragmented due to the presence of numerous brands. However, certain renowned brands, such as Suntory and Asahi, significantly cover large market shares. To attract consumers, market players constantly launch new products with added minerals and flavors. They also spend huge amounts on advertising and marketing to generate consumer awareness and boost their sales. Furthermore, the adoption of competitive strategies, such as mergers, acquisitions, partnerships, joint ventures, etc., is also prominent in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Japan bottled water market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the Japan bottled water market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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