The global collapsible water bottle market is expected to accumulate US$ 1,897.3 Million in value by 2022-end. During the forecast period ranging from 2022 to 2032, a CAGR worth 6.5% has been projected for the market, with an expected closing value worth US$ 3,567.1 Million.
Collapsible water bottles also have the advantages of being portable and freezer-friendly for ice-cold water. This kind of bottle is BPA-free and can tolerate boiling water. People who enjoy traveling, office professionals, and personal travelers are big fans of these collapsible water bottles. These foldable water bottles are being made by manufacturers to be as sturdy as their stainless or plastic equivalents.
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Collapsible Water Bottle Market Growth?
Due to their flexibility, some collapsible water bottles cannot be washed or used for drinking. Because they are still being developed, collapsible water bottles are more expensive than stainless steel ones.
The market for collapsible water bottles is seeing slow growth due to the government’s rigorous laws addressing the potentially harmful consequences of plastic use. In the short term, these elements are anticipated to support the growth of the market for collapsible water bottles.
Why is North America Emerging as an Opportunistic Collapsible Water Bottle Market?
Due to its sizable population, high household income, and the existence of several brands of collapsible water bottles, North America is a big market. In 2022, North America will hold the second-largest regional market share for collapsible water bottles, with a share of around 16%. The North American region may have the largest market for collapsible water bottles due to the obvious huge and constantly growing demands from the millennial generation looking for more environmentally friendly options.
Due to a growth in people engaging in outdoor activities, which fuels demand for products as a sustainable substitute for single-use plastic bottles, North America is predicted to expand at a consistent CAGR during the projection period.
This trend can be attributed to consumers’ elevated levels of awareness about the negative effects of using packed mineral water bottles for outdoor activities. According to the Outdoor Foundation’s Outdoor Participation Report, approximately 150 million Americans participate in outdoor activities annually, with a participation rate of 48 percent.
Who are the Key Players in the Collapsible Water Bottle Market?
Some key players in the collapsible water bottle market are Vapur, Inc., Hydrapak LLC, inov-8, Salomon SAS, Ultimate Direction, Inc., Lingxu International Trade Co., Ltd., Qimei Packaging Co., Ltd., T&T Plastic Hardware (Zhuhai) Co., Ltd., 4MO Plastic Co., Ltd. (Zhuhai), Reshine Imp. & Exp. Co., Ltd., etc.
Key developments in the collapsible water bottle market are as follows:
Vapur Inc. launched its latest product in September 2021, and these bottles are designed to fold, be collapsible water, and be very lightweight. Made of three layers of BPA-free, ultra-durable plastic.
Hydrapak’s latest product was released in October 2021. FluxTM 1 L Collapsible Water Bottles have indeed been upgraded. The Flux is shaped like a rigid bottle, compresses like a soft flask, and saves 60 percent of its weight, with a spill-proof twist cap for on-the-go hydration
4MO Plastic Co. Ltd. is yet another prominent face. The company offers a broad range of collapsible water bottles, including the Expandable Collapsible Travel Water Bottle (650 ml and BPA free), Collapsible Water Bottle for Sports and 500 ml Foldable Kids Silicone Collapsible Water Bottles among others.
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