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Essay / The Bottled Water Industry - 2197
MarketsWater is something that anyone in the world can get for free from the tap, but it's now all the rage in the beverage industry. Bottled water has become the fastest growing segment of the industry, both in volume and profits. Due to the needs of consumers and their desire to have a healthier lifestyle, the beverage industry is providing consumers with a necessary product, namely bottled water. Water is essential and with the demand to participate in a healthy lifestyle, the water industry will become profitable. The market size of this industry has increased and will continue to grow at a rapid pace. Over the past ten years, bottled water has grown from a relatively small market to a mainstream market in the United States, with sales of approximately $7.5 billion, and that's just bottled water of 1.5 liters or less (Durr). According to the International Bottle Water Association, Americans spent $5.6 billion in 2000 on bottled water. By 2005, Americans will consume 7.2 billion gallons of bottled water, up from about 5 billion gallons in 2000, the association reported. One factor that will continue to drive the bottled water market above all is the desire to live a healthy lifestyle. Which leads us to worry about contaminants in tap water. People will pay high prices for water, just to be sure that the water they have purchased is safe to drink. Drinking plenty of water also prevents dehydration. According to the Bottled Water Web (www.bottledwaterweb.com), 75% of Americans suffer from chronic dehydration. Most people know the health benefits of drinking water, which will encourage the consumer to use water bottles more. At the same time, packaging in portable plastic bottles and more... middle of paper ...... are looking for a drink that combines rehydration with vitamins and minerals, and 75 percent said that 'they would buy enriched water. if available (Durr). According to Stephen Kay of the International Bottled Water Association in Alexandria, Virginia, people demand more from their foods and beverages, so they choose water with additional functions and attributes (Durr). As Americans focus on fitness and a healthier lifestyle, companies are positioning these enriched waters as something better than water. It's like water but with better attributes and it provides more than water does. Aquafina Essentials is billed as "enhanced water" and the label for Propel, a new product from Gatorade, describes the clear drink as "fitness water." While Propel is aimed at athletes, Aquafina Essentials targets those who are very health conscious..