Bottled water sales up in emerging markets
Last Updated: Friday, October 23, 2009 | 2:29 PM ET
CBC News
Indonesia, Mexico and Argentina are thirsty for bottled water, just as the trend is waning in North America and Europe.
Groupe Danone SA reported its bottled water business grew 4.6 per cent in the third quarter, as strong demand in emerging markets offset declining demand in developed countries.
The French company, which bottles Evian water, controls about 10 percent of the global bottled water market. It predicted the growth trend would continue.
In North America, the trend is away from bottled water because of municipal and grassroots campaigns to cut plastic waste.
Overall, Danone, best known for its Activia yogurt, reported revenue of $5.7 billion US in the July-September period, down slightly from a year earlier.
On Wednesday, global food giant Nestlé Inc. reported its bottled water sales were down in North America and Europe
Nestlé owns the San Pellegrino and Perrier brands, both of which have been hit hard, according to a report by Bloomberg.
U.S. and European shoppers are cutting brand-name bottled water from grocery lists, opting for generic alternatives that can be a quarter of the price.
"Bottled water is facing the perfect storm right now," Andrew Wood, an analyst at Sanford C. Bernstein, wrote before the sales figures were released.
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