Project Report For Packaged drinking water
The project report for Packaged drinking water is as follows.
The industry is anticipated to increase at a compound annual growth rate (CAGR) of 20.75 per cent from its present value of INR 160 billion by the ending of 2023, with its present value of INR 160 billion. The industry is expected to hit 35.53 billion litres by 2023, with a CAGR of 18.25 per cent from 2018 to 2023.
The expansion of the bottled water industry in India is due to rising health problems and a lack of drinkable water. Bislery, Kinley, and Aquafina are the most popular mineral water companies in India.
In India, 1-litre bottles, 2-litre bottles, 500-millilitre bottles, 250-millilitre bottles, pouches, and kegs of 15-20 litres are the 4 primary SKUs for bottled water.
In 2018, 1-litre bottles had the greatest market shares (42%) amongst all several SKUs, trailed by 500-millilitre bottles & 250-millilitre bottles.
A majority of enterprises offering fake brand drinking water has appeared on the marketplace in recent times. These companies fail to meet safety and cleanliness requirements, resulting in consumer health concerns. As a response, customers have lost trust in bottled water, which has a negative impact on total sales.
Rural areas are home to almost 67 per cent of the population. Bottled water penetration, on the other hand, is extremely low in these areas. As a reason, the Indian market’s expansion is hampered.
Market potential & Strategy
In India, flavoured drinking water has grown famous. Normal bottled water is frequently replaced with flavoured water comprising fruit flavour and artificial sweeteners, such as soda, cola, juice, and other sugary drinks. Flavoured bottled water is sometimes preferred over regular bottled water. This move is creating a chance for bottled water businesses in India to increase their product portfolio.
With the exception of direct sales, Indian industry participants have lately shifted their focus to institutional sales via partnerships with airlines, movie theatres, & hotels. Such collaborations ultimately lead to higher penetration of the commodity in the economy as well as an increase in total sales volume in India.
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