The bottled water market in Denmark experienced a notable decline from 2013, when it was valued at €68.061 million, to 2023, where the market size stood at €49.02 million. This decline has been gradual yet consistent, with annual fluctuations. For example, 2019 showed a slight recovery with 1.51% year-on-year growth, though it wasn't sustained as the market size dropped again in the following years. Of particular note, the market size for 2023 was €49.02 million, experiencing a year-on-year decline of 4.63%.
Looking forward to the forecast period from 2024 to 2028, the market is expected to continue its downward trend, with the size projected to decrease to €37.474 million by 2028. The Compounded Annual Growth Rate (CAGR) over this five-year period is estimated to be -4.29%, which translates to an overall decline of 19.69% by 2028.
Future trends to watch for include increased consumer awareness and preference for sustainable and eco-friendly options that could impact bottled water consumption. Additionally, market players might innovate with new product formats or enhanced value propositions to counteract the declining trend.
