Dive Summary:
- New research shows that the production of bottled water has been in decline since 2006, due in part to the increased environmental concerns of the consumer and economic worries.
- Industry revenue is expected to decrease by an annual rate of 1% over the next five years, then see an upswing as the economy recovers and new packaging technology is developed.
- Like many other sectors of the food production industry, new technology and innovation are needed for continued growth and prosperity.
From the article:
"After more than a decade of strong growth stemming from rising health awareness, societal trends and more buoyant economic conditions, the Bottled Water Production industry has been in decline since 2006-07, according to new research. According to a new report by IBISWorld, this was caused by unfavourable climatic conditions, a mounting community backlash against the environmental impact of bottled water and the most savage recession in the UK for half a century. FoodDrinkEurope examines global industry 'megatrends' All of these factors took their toll on industry revenue and profitab..."
