Leading companies operating in the bottled water market are PepsiCo Inc, Nestle Waters, The Coca Cola Company, Groupe Danone, and Mountain Valley Spring Company LLC.
The still bottled water segment is estimated to account for 78% of the market by 2024.
The growing number of health conscious consumers worldwide will be a chief driver for the growth of this segment.
Heightened Sense of Hygienic Consciousness among Consumers to Drive Demand The growing number of educated and health conscious people across the globe is increasing and this is creating a heightened demand for hygienic food and drinks.
As the demand for clean and hygienic water is increasing, the demand for bottled water will also increase.
The growing demand for convenient, safe, healthy, and refreshing drinks from health conscious consumers will continue to drive the growth prospects of the global bottled water market.
Adverse Health Effects of Carbonated Drinks to Hamper Demand There has been a decline in the sales of carbonated soft drinks from a couple of decades on account of adverse health effects.
Health concerns regarding consumption of additives and high concentrated sugars will deter the consumers from consuming carbonated and flavored bottled drinks.
On the other hand, the global increase in the disposable income and improved standards of people in emerging nations of Latin America, Asia Pacific, and the Middle East and Africa will drive the growth of this market.
Stringent government policies and strict laws regarding the disposal of the bottles have led to negative publicity and affecting the bottled water market.