Fashion or necessity: bottled water in the developing world
The Times (U.K.) has a business piece today on the growth of the bottled-water market in India, China, and the Middle East. Sales in the U.S. and western Europe are down, but huge growth (between 18 and 25 percent in the next three years) is expected in places where a) the tap water is bad (that is, insufficiently treated to remove bacteria and industrial and agriculture contaminants) and b) the middle class is growing to the point where bottled-water is seen – as it once was in the U.S. — as a status symbol.
The article concludes with a quote from Simon Powell, head of sustainability research for the brokerage firm CLSA: “It is so striking how the EU and US consumer have abandoned bottled water. Two years ago, if you asked for tap water in a restaurant, you’d practically be shown the door. Now, it’s the done thing. As bottled water emerges as a growth area in the developing world, investors are constantly going to find themselves underestimating the fashions involved.”
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