Industry Overview - The packaged drinking water industry in China officially started in the 1980s and entered a mature stage by 2008 [4] - The industry is expected to reach a market size of 530.75 billion yuan by 2028, with a compound annual growth rate (CAGR) of 11.8% over the next five years [4][9] - The market size grew from 201.7 billion yuan in 2019 to 303.7 billion yuan in 2023, driven by consumer health awareness and consumption upgrades [10] Market Drivers - Rising health consciousness among Chinese consumers is driving demand for high-quality drinking water [5] - The trend towards premiumization is evident, with consumers preferring high-end products sourced from quality water sources like the Alps, Changbai Mountain, and Tibet [5][20] - The tourism industry, with 2.53 billion domestic tourists in 2022, is boosting demand for portable packaged drinking water [10][14] Product Trends - Lightweight packaging is becoming a key strategy for cost reduction and environmental sustainability, adopted by major players like Nongfu Spring and Yuanqi Forest [6] - Product segmentation is increasing, with categories like boiled water, tea-brewing water, infant water, and soda water gaining traction [7] - High-end products, priced above 5 yuan per 500ml, are gaining popularity due to superior water sources and innovative packaging designs [20] Competitive Landscape - Major players like Nongfu Spring, Kangshifu, and Jinmailang are leading the market with differentiated products and premium offerings [5][7][19] - New product launches in 2023 include functional and culturally themed packaging, targeting specific consumer groups such as women, the elderly, and athletes [19] Market Segmentation - Natural water and natural mineral water are the fastest-growing segments, with CAGRs of 15.2% and 14.1% respectively from 2019 to 2023 [10] - Purified drinking water remains the largest segment, accounting for 61.0% of the total retail sales in 2023 [10] Challenges - Water pollution, particularly from arsenic, iron, manganese, and fluoride, poses a risk to consumer health and increases production costs for companies [16][17]
2024年中国包装饮用水行业概览:包装饮用水市场发展机遇解析
头豹研究院·2024-05-12 01:00