Reusable Water Bottle Market:
Executive Summary
In a world where we are constantly putting pressure on the natural resources made available to us by the environment, reusable water bottles provide an eco-friendly way of hydration. They can be reused multiple times and this unique property has made them popular all over the world. You lower your carbon footprint significantly with the use of reusable bottles instead of single use bottles. Reusable bottles also reduce the amount of plastic waste that gets generated. In places which restrict the use of packaged plastic bottles, reusable water bottle sales are encouraged.
In 2018, the global reusable water bottle market was estimated to have a value of USD 8.2 billion. The market is expected to grow at a CAGR of 4% over the study period i.e. 2019-2026. The growing awareness among the population about the environmental strain incurred in using plasting products and the rise of disposable income in the middle class has led to growth in the global reusable water bottle market. Manufacturers of these bottles have now innovated and offer different types of the same product.
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The global reusable water market is also experimenting with upcoming technology to continue to register high market sales. Key players are aware that there is a demand for reusable water bottles and keep trying to innovate, so they can have a stand-out product which will enable them to increase their market share. In our market report for the global reusable water bottle market, we will be studying the market in segments. These segments will be product type, distribution channel and regional penetration.
Segmentation
The global reusable water bottle market can be segmented according to product type, distribution channel and region. With regard to material type, the reusable water bottle market can be divided into plastic bottles, glass bottles, metal bottles and silicone bottles. In terms of distribution channel, the global reusable water bottle market can be segmented into convenience stores, online stores, hypermarkets and supermarkets and specialty stores. By region, the market can be further segmented into the geographical areas encompassing the Asia Pacific, the Middle East, South and North America and Europe. We will be discussing the regional penetration of the global reusable water bottle market in more detail below.
Regional Overview
Out of all the regions discussed above, Asia Pacific has the largest market share in the global reusable water bottle market. It’s because of the countries India and China where manufacturing these bottles come cheap, as opposed to other Western countries. As for our study, North America is predicted to exhibit the highest growth rate during 2019-2026. Canada and the US are countries studied as North America in this study. The region will register a high CAGR for the market because of several factors such as growing health awareness, rise in disposable income and the general demand for reusable water bottles.
Latest industry news
Reusable water bottles are now being sold with special dispensing features such as mist dispensers. Recently, a self-cleaning reusable water bottle was released for sale in the market. Purification facilities like embedded UV lights are also being provided in some of these bottles to make the water contained healthy and fit for drinking.
Continuous…
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