Borrisoleigh Bottling Limited – or BBL – is a company that is based in Borrisoleigh, Co. Tipperary, Ireland. According to the BBL’s website, the town of Borrisoleigh is the location of the well that produced the first mineral water in Ireland (Borrisoleigh Bottling Ltd., no date). That well is currently used to produce natural water, which is delivered all over Ireland and overseas. Borrisoleigh Bottling Ltd.’s (2020) report states that the organization utilizes a range of Carton, Card Box Packaging, and previously recycled plastic to package its product. BBL’s water is a recipient of a number of gold medals for excellence, and the company’s aim is to lead the way in the bottled water industry in terms of a more sustainable approach. This eco-friendly policy allows BBL’s customers to drink water without worrying about negatively impacting the Earth, which is especially important for a new generation, who tend to be sustainability-orientated.
The bottled water market is a large one and covers a variety of territories across the globe. According to Data Bridge Market Research (2021), it includes all of North America, most of Europe, and Asia-Pacific, as well as some countries in South America, the Middle East, and Africa. However, some of the regions are more dominant than others – and currently, the most dominant one is the Asia-Pacific. Data Bridge Market Research (2021) states that it is due to the growing consumer preference for healthier drinks over sweet ones and the increase in income per capita in the region. North America is firmly second: increased demand for clean water combined with rising awareness of the need for healthier lifestyles led to a bottled water market growth. Europe is the next largest territory when it comes to market growth, as bottled water is gaining popularity as a healthier alternative to sugar-based drinks there as well.
Ireland, though a part of Europe, is not a vast region – and it determines the growth potential domestically. Industry Research Reports (2021) confirm that the bottled water production industry in Ireland is small when compared to the market’s leaders. Statista’s (2021) report on the bottled water industry revenue comparison illustrates the opportunities that entering the global market provides. For one, the United States of America’s revenue in the last year was nearly $86,5 million, whereas China’s – which came in second – was almost $69 million (Statista, 2021). According to Statista (2021), Ireland – positioned 56th – earned around $397,000 in 2021, which is hundreds of times less than the market’s leaders. Borrisoleigh Bottling Limited’s expansion to the international market, if successful, will allow it to grow on an unprecedented scale.
As it has been stated above, the United States and China are two of the biggest countries when it comes to the bottled water market. However, Global Industry Analysts, Inc. (2021) notes that among other remarkable options are Japan and Canada. According to it, their Compound Annual Growth Rate (CAGR) is estimated to grow at almost 3% and nearly 5%, respectively, over the next few years (Global Industry Analysts, Inc., 2021). When it comes to territories closer to Ireland than these ones, a promising market is Germany – its CAGR is forecast to increase at approximately 3,5% over the same amount of time (Global Industry Analysts, Inc., 2021). All these are potential marketplaces for BBL to expand into – though it is feasible that more possibilities are to appear in the future.
The growth of bottled water markets is mainly due to the increasing consumer awareness of threats to health from the consumption of unsafe drinking water. Additionally, as per Business Research Company (2018), bottled water’s convenient nature is a crucial factor in the growth of its sales, as packaged bottles allow consumers to carry water with them everywhere they go. In years to come, rapid changes in consumer lifestyles, lack of time, and growing demand for convenient and safe drinking water will continue to stimulate the sales of bottled water.
When it comes to marketing strategies, effective marketing must cover a wide range of areas rather than focus on a single message. Kenton (2020) proposes a marketing mix as a comprehensive marketing plan that includes several focus areas. In the marketing mix strategy, it is the so-called four Ps: product, price, placement, and promotion. This approach helps reach a broader audience; moreover, by focusing on these four Ps, marketing professionals only pay attention to things that really matter. In the case of Borrisoleigh Bottling Limited, the product is bottled water – that is, packaged drinking water. According to Data Bridge Market Research (2021), it might be carbonated and is usually available in different sizes – from single-serving bottles to larger ones. BBL’s water differs from its competitors by being brought from an age-old artesian and by the company’s focus on a sustainable future with strategies to promote it.
In terms of price, it always reflects how much consumers are willing to pay for the product. According to Drinks Industry Ireland (2018), people’s growing desire to lead healthier lives contributes to their desire to pay for quality water more than ever. BBL needs to take it into account when establishing prices for its water. Placement depends on whether the company aims at marketing its product as a readily available one or as a premium one. Drinks Industry Ireland (2017) notes that caring about health is nowadays a global trend. Therefore, sustainable products have a chance at becoming widely popular even if the price is somewhat above average. Moreover, in this age of technology, it is advisable to place goods both in physical stores and online. The same goes with promotion: advertisement is to take place via directories, newspapers and magazines, and the Internet.
Reference List
Borrisoleigh Bottling Ltd. (no date) About us. Web.
Borrisoleigh Bottling Ltd. (2020) Global Hydrate: complete Earth friendly offering. Web.
Data Bridge Market Research (2021) Global bottled water market – industry trends and forecast to 2028. Web.
Drinks Industry Ireland (2017) ‘Water, water everywhere…’, 24 May. Web.
Drinks Industry Ireland (2018) ‘Bottled water increase reflects lifestyle trend’, Web.
Global Industry Analysts, Inc. (2021) ‘Global bottled water market to reach $183.7 billion by 2026’, Cision PR Newswire, Web.
Industry Research Reports (2021) ‘Soft drink & bottled water production in Ireland – market research report’, IBISWorld, Web.
Kenton, W. (2020) ‘Marketing mix’, Investopedia, Web.
Statista (2021) ‘Bottled water, Ireland’. Web.
The Business Research Company (2018) ‘The global bottled water market: expert insights & statistics’, Market Research Blog, Web.