The global reusable water bottle market size was valued at USD 10.05 billion in 2023. The industry is expected to expand from USD 10.52 billion in 2024 to USD 15.61 billion by 2032, exhibiting a CAGR of 5.05% over the study period.
Reusable water bottle are made of sustainable and eco-friendly materials which makes it ideal for use repetitively, minimizing environmental pollution due to disposable plastic bottles.
The market growth can be credited to the emergence of the trend of sustainable products. Smart water bottles that have the ability to monitor one’s hydration requirements are being launched by companies.
The novel COVID-19 pandemic caused an unforeseen influence on the economy across the globe, leading to upheavals in supply chain and production. In addition, the market growth was greatly impacted by the shutdown of retail outlets/offline distribution channels and manufacturing facilities amid the pandemic.
Fortune Business Insights™ provides this information in its research report, titled “Reusable Water Bottle Market, 2024-2032”
List of Key Players Mentioned in the Reusable Water Bottle Market Report:
- Tupperware Brands Inc. (U.S.)
- Klean Kanteen (U.S.)
- SIGG Switzerland AG GmbH (Switzerland)
- Contigo (U.S.)
- Camelbak Products LLC (U.S.)
- Hydro Flask (U.S.)
- Thermos LLC (U.S.)
- Bulletin Brands LLC (U.S.)
- Hydaway (U.S.)
- Newell Brands (U.S.)
Information Source: https://www.fortunebusinessinsights.com/reusable-water-bottle-market-102574
Segmentation:
Lightweight Attribute of Plastic to Impel the Segment Expansion
In terms of material type, the reusable water bottle market is divided into metal, glass, plastic, and others. The plastic segment accounts for the largest reusable water bottle market share. Plastic has a lightweight nature and is cheaper with respect to production. This factor is fostering the plastic segment growth.
Offline Segment Dominates Owing to Surging Number of Supermarkets & Hypermarkets
On the basis of distribution channel, the market is bifurcated into online and offline. The offline segment accounts for the largest share due to the growing number of supermarkets & hypermarkets across nations, which bolsters the product distribution and availability through physical retail formats.
Based on region, the reusable water bottle market is divided into Europe, the Asia Pacific, North America, South America, and the Middle East & Africa.
Report Coverage:
The report provides a comprehensive coverage of the major factors proliferating the market expansion. In addition, it highlights the impact of the COVID-19 pandemic on the market growth, the latest trends, and key segments. Other aspects of the report include the strategic initiatives deployed by top companies to boost their share.
Drivers and Restraints:
Surging Demand for Sustainable Water Bottles to Escalate the Market Growth
One of the major factors propelling the reusable water bottle market growth is a rise in the demand for sustainable water bottles. Water bottles manufactured using recyclable materials including glass and stainless steel show durability, functionality, and robustness, which makes them ideal for use over extended period.
However, the environmental concerns related to plastic bottles may impede market growth.
Regional Insights:
Asia Pacific Held the Largest Share Owing to Growing Demand for Multi-functional Water Bottles
The Asia Pacific registered the largest share in 2023, owing to the surging demand and availability of multi-functional water bottles in China and India.
North America market for reusable water bottle registers a significant share due to the growing adoption of eco-friendly water bottles, particularly in the U.S.
Competitive Landscape:
Market Players Focus on Product Innovations to Expand their Portfolio
The market represents a highly competitive and fragmented structure, with many international and domestic companies competing for a higher share. Various strategic initiatives are being implemented by top companies to maximize their revenue. Some of these strategies include joint ventures, mergers & acquisitions, capacity expansions, and others. Several companies are also focusing on product innovations for the expansion of their product portfolio.
Key Industry Development:
- In August 2023, PathWater, a U.S.-based manufacturer, announced a partnership with Mattel, a U.S.-based toy company, to launch a limited edition Barbie refillable bottle. The company sells these bright pink refillable water bottles on its website and in retail stores across the U.S. and Canada.
Comments
0 comment