Bottled Water
Market size and growth rate
Introduction
Human
survival and life generally depend on the presence of water as the main source
of life. Countries around the world use multiple methods of desalination and
manufacturing water that are suitable for daily human use. The State of Kuwait,
like other countries in the world, is based on the method of desalination of
seawater - salty - so that it reaches different residential areas, which meet
the needs. As for drinking water, the method of manufacturing it differs
somewhat by adding some manufacturing units that contribute to purifying water
from impurities and making it drinkable. Drinking water – also called bottled
water – differs in the way it is purified, which is usually either by
filtration, desalination, or through ultraviolet light. In this regard, EXCPR
Consulting and Business Management CO. said that the significant growth and
rapid spread witnessed by the bottled water sector in the State of Kuwait
necessitated keeping pace with these changes in the markets, which are
inherently human-customer behavior. Some of the most notable results achieved
are as follows:
Market size
The
shape of the local market in the State of Kuwait is fully aware of the
magnitude of the change in the bottled water sector during the past ten years,
in which a large number of citizens and residents tended to consume bottled
water more than before. This has contributed to encouraging many local
companies to invest in this sector more. The statistical results indicate that
the population of the State of Kuwait has reached about 4.7 million people,
which is an important catalyst in activating and encouraging this sector. The
following are some statistical findings and hypotheses:
|
Item |
Value |
|
Kuwait Population |
4,700,000 |
|
Bottled water consumption per people |
0.33 litter/day |
|
Daily consumption |
1,551,000 litter |
|
Annual consumption |
566,115,000 litter |
|
Unit price |
0.656 USD/litter |
|
Market size |
USD 371 million |
Growth rate
The
annual growth of the bottled water sector in the State of Kuwait is
commensurate with the rest of the world, based on the annual growth of the
population. The latest statistics indicate that the estimated annual growth of
the bottled water sector was about 7-8% year-on-year. Thus, the size of the
bottled water market in the State of Kuwait by the end of 2032 is expected to
reach about USD 603 million, an increase of 63% over the current year. The
following table shows the forecast of the size of the bottled water sector in
the State of Kuwait for the next five years:
|
|
2022 |
2023 |
2024 |
2025 |
2026 |
|
Market size – USD million |
371.1 |
389.8 |
409.2 |
429.8 |
451.1 |
Competitors
Since
the large market size and rapid growth are an attractive factor for business
owners and other investors, many different local and international companies
have started to move towards this sector, in order to reap more share in the
local market. Many companies are currently competing in the market, perhaps the
most prominent of which are:
- Alrawdatain
- Abraaj water
- Aqua Cool Water
- Aquafina
- Arwa
- Avian
- Alain
- Volvic
- Aqua Gulf water
- EVA
- Nestle
- Sohat
These
companies differ in their ability and ability to supply bottled water to the
local market, which makes it an opportunity for more companies to meet the gaps
in the shape of the local market in the State of Kuwait.
In
conclusion, EXCPR CO said that the expected growth of the bottled water sector
in the State of Kuwait will make many different companies to enter into it and
reap more financial resources. Mergers and acquisitions are also an important
sign of controlling the largest share of this vital market, especially if the
various sources of production are directed towards achieving these ends. EXCPR
CO adds that the harsh climate and high temperatures will boost demand for
bottled water products in the near future. Despite the large size of the
bottled water sector in Kuwait and its rapid growth, per capita consumption
remains at a rate of 121 liters per year (compared to 186 liters per capita in
Saudi Arabia, for example), which promotes the growth of the bottled water
sector further.
EXCPR CO
Consultancy
& Business Management
Above
Management
P.O.
BOX 21407 – SAFAT 13075 KUWAIT
SHARQ I
AHMED ALJABER STREET I ALMISBA TOWER
I 2ND FLOOR I
OFFICE NO. 2
Tel:
+965 600-EXCPR (600-39277)
Website:
www.excpr.com
Email:
info@excpr.com
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