Imported Drinking Water Market Flourishing
By Kim Hyun-cheol
Staff Reporter
Until recently, those who talked about the idea of importing drinking water would have been treated as eccentric dreamers. Recent developments in the drinking water market show their ideas were not as far-fetched as others might have thought.
In the January-July period, South Korea imported 4,376 tons, or $3.7 million worth of drinking water products, according to data the Korea Customs Service released Sunday. The amount grew 33.2 percent from the same period last year, and 82.2 percent from 2006.
European products were favored the most, with French imports topping the list with 3,267 tons, or $2.6 million.
Following a meager start, the market has ridden a swift wave each year since the turn of the decade. In 2000, imports stood at 1,393 tons, or $641,000, jumping over five-fold to 7,391 tons ($5.3 million) last year.
The rapid growth is in line with the overall domestic drinking water market, where the pursuit of a well-being lifestyle has lifted demand for water of better quality and diversified tastes. Carbonated beverages and fruit juices, however, are not showing notable growth in sales this year.
Currently around 40 importers are engaged in the drinking water business, with some 70 companies manufacturing products within the country.
The domestic market for drinking water was around 390 billion won ($358.1 million) last year, and will grow to 530 billion won next year, an industry source says. Its sales this summer have soared over 15 percent from a year earlier.
Some new product items are adding more drive to the market upturn. This summer, deep-sea water products are stealing the limelight. In spite of relatively high prices, most of them are displaying decent outcomes, with one from CJ selling 200,000 bottles a month.
Several local makers have released products made of water collected deep in the oceans, which producers say is not polluted with chemicals and bacteria and contains more healthy minerals and nutritional ingredients than ground water.
The new preference has also created interesting changes in other fields ― some ``water-themed'' cafes are experiencing roaring business in trendy Gangnam districts in southern Seoul, where the menus contain various kinds of drinking water from around the world, instead of coffees and teas.