Bottled water companies are customizing their products to match consumer preferences. Companies are continuously launching new products to match customer demands and create differentiation from competitor brands. They are coming up with new products which suit the consumers’ changing lifestyles and health needs. For instance, Coca-Cola South Pacific launched a new Glaceau-branded water, low calorie flavored sparkling spring water, customized for health-conscious females aged 30 and above. Another similar product in this range is from Refresh, an Australian company which produced a “super-oxygenated” water called “Oxyfresh”, containing Himalayan crystal salt and 700% more oxygen than normal water. This product is targeted at customers aiming to have a healthy lifestyle.
Companies are also launching innovative packaging of bottled water to establish a brand image and differentiation in the bottled water market. It includes resealable and recyclable can packaging material, transparent sophisticated bottles, or inks and coatings applied on a can to enhance the customer experience through unique visual effects along with increasing shelf appeal. For instance, Evian, a renowned French mineral water brand, recently manufactured a slim 330ml bottle with a transparent label allowing the customer to see the purity of the water. British entrepreneurs also launched a water in a resealable and recyclable aluminum can, “CanO”.
The global bottled water consumption market will grow to 623.5 billion liters in 2021 at an annual growth rate of above 9%. The growing demand for functional water will drive the market in the forecast period, as consumers are increasingly adopting new products with health benefits. Functional water has added functional value in the form of minerals, oxygen and vitamins. Since consumers prefer to try new tastes and follow the best of them, the availability of a range of flavors and options in functional water will boost the market growth.