Bottled tap water is booming!
A look at the shelves in the supermarket shows that the market for bottled water is booming; the global size of the bottled water market is estimated to be more than $300 billion in 2023 and is expected to grow 6% per year!
Since more and more consumers have difficulty with the negative environmental impact of plastic water bottles, we looked into the habits of consumers regarding tap water in re-usable water bottles.
Data from our ninth wave of the worldwide Glocalities research program, showed that the Glocalities-segments Creatives (51%) and Achievers (51%) are more likely than average to avoid plastic water bottles and prefer tap water out of re-usable water bottles. This is not surprising, given their focus on health and the environment. The three remaining consumer segments lag in this regard.
Tap water and re-usable water bottles drive innovation
The increasing use of tap water and re-usable water bottles has spurred significant innovation in the beverage industry, leading to the development of flavour supplements and sparkling water options that enhance the drinking experience. Achievers and Creatives are the primary target group here as well. Achievers are more focused on status, while Creatives have different purchasing criteria and motivations; they tend to be more environmentally conscious. Innovations such as water sparkling techniques and flavours, along with the story of reusing water bottles to help save the environment, will appeal especially to Achievers.
With the help of understanding the drivers behind behavior, the Glocalities team helps to target innovations to the right consumer groups.