The global Reusable Water Bottle Market is projected to reach USD 10.6 billion by the end of 2025, according to a new report released by Million Insights. It is anticipated to grow at a CAGR of 3.9% over the forecast period, 2019-2025. There has been rise in the adoption of reusable water bottles by most of the consumers. In addition to this, the lifestyle of people is changing rapidly, and their standard of living is improving with time. This has driven the demand for the product from, 2019-2025.
According to one of the renowned media sources (Forbes Media LLC), people purchase 10 lakhs of plastic bottles and only 9% of the plastic is recycled. 91% of the plastic bottles remain as it is. It is becoming a hazard for the ecosystem. This has increased the concerns of consumers for the environment and they are preferring reusable water bottles instead of regular, non-recyclable plastic bottles.
Recently, there is an amalgamation of the wellness and fashion industries. Therefore, modern consumers are highly demanding the product. For example, Swarovski and S’well collaborated together for launching reusable water bottles with more than 6000 crystals and with a premium price range. The products with innovative designs and extra features are gaining more popularity among the consumer group.
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The product segment made up of plastic material had the biggest share in the reusable water bottles market, in 2018. The segment of water bottles made up of silicone is projected to grow at a CAGR of about 4.3% during the forecast period. Silicone bottles are chemically inert, and they are heat resistant. These benefits have surged the growth of the segment.
The segment of supermarket & hypermarket distribution channel held the largest market share of about 38.4%, in 2018. The segment of online distribution channel is projected to grow at a CAGR of 4.2% during the forecast period. Low cost investment in new ventures and increasing usage of e-commerce sites have propelled the segmental growth.
The key players operating in this market are Nalge Nunc International Corp.; Tupperware Brands Corporation; GmbH; SIGG Switzerland AG, Klean Kanteen Inc. and CAMELBAK PRODUCTS LLC. The companies use different strategies such as new product development, innovative and attractive designs, and joint venturing to gain an edge over their competitors.
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Further key findings from the report suggest:
• The global reusable water bottle market is projected to grow at a CAGR of 3.9% over the forecast period
• The product segment made up of silicone material is projected to grow at the fastest CAGR of around 4.3% from 2019-2025
• The segment of hypermarket & supermarket held the biggest market share of 38.4%, in 2018
• The online distribution channel segment is projected to grow at a CAGR of about 4.2% from 2019-2025 owing to an increase in the number of internet users and users of e-commerce sites, and low cost of investment in new ventures.
• The market share of Asia Pacific accounted to be 30.0% in 2018
Million Insights has segmented the global reusable water bottle market based on material type, distribution channel and region:
Reusable Water Bottle Material Type Outlook (Revenue, USD Billion, 2015 – 2025)
Reusable Water Bottle Distribution Channel Outlook (Revenue, USD Billion, 2015 – 2025)
• Specialty Store
• Convenience Store
• Supermarket & Hypermarket
Reusable Water Bottle Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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