Strategic Analysis to Understand the Competitive Outlook of Insulated Water Bottles Market – TMR

Strategic Analysis to Understand the Competitive Outlook of Insulated Water Bottles Market - TMR
Insulated Water Bottles Market
Insulated Water Bottles Market will expand at a steady pace during the forecast period, 2017-2026, global market for insulated water bottles is pegged to be worth over US$ 4.1 Bn by the end of 2026

Some of the prominent participants in the global insulated water bottles market are Ice Shaker, Thermos, Geysa, Fnova, 321 Strong, Mira healthy Human, Hydro Flask, and Cayman Fitness. In order to up their ante against their rivals, they are seen testing new and more effective materials. They are also banking upon more innovative and effective production technologies.

A report by Transparency Market Research finds that the global insulated water bottles market would expand at a 4.8% CAGR over the course of the forecast period from 2017 to 2026. At this pace, its estimated valuation is expected to reach US$4.1 bn by 2026-end. The report also predicts that by 2026-end, insulated water bottles worth almost US$1.8 bn will be sold for day-to-day usage.

There are various kinds of insulated water bottles being sold in the market. Of them, the mugs are expected to be the top grosser in the near term. The TMR report expects the share of the segment to become 36.0% by end of the forecast period. From a geographical standpoint, Asia Pacific except Japan has emerged as an attractive insulated water bottles market on the back of India and China. This is because the cheap and abundant labor and land in the two nations make them ideal for large-scale and cost effective production. Raw materials are also quite cheap in the two regions.

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Need to Consume Warm Fluids and Water Drives Uptake of Insulated Water Bottles

Changing needs of people when it comes to drinking water has been a major growth driver of the insulated water bottles market. On the advice of doctors or physicians, they are seen increasingly consuming warm fluids or water. Hence, the need to carry water or fluids of requisite temperature. The insulated water bottles market is also being fuelled by continued thrust of manufacturers to build more cutting-edge products. This has led to the emergence of smart bottles that use sensors to intimate the users of a temperature change, proper consumption amount, and other things. Newer materials are also being used by manufacture the bottles. Further players are experimenting with the size and shape of products in the global insulated water bottles market.

Online Channels Contributing Significantly to Sales

Among other trends shaping the market dynamics are the widespread usage of insulated water bottles are high usage of plastic as raw materials. Demand for bottles made from stainless steel and metals is expected to fall over the course of the next few years. Most of such bottles are being bought by consumers for everyday usage. Currently, the online ecommerce platforms are registering high sales in the insulated water bottles market and going forward, their shares in overall sales would increase further, predict our in-house experts.

This review is based on the findings of a TMR report, titled, “Insulated Water Bottles Market (Product Type – Fine Mouth, Big Mouth, Mugs and Tumblers; Primary Usage – Everyday, Sports, Travel and Others; Sales Channel – Modern Trade, Departmental Store, Online Stores and Other Sales Channel; Material Type – Plastic, Metal, Glass and Silicone) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2026.

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Packed Sporting Calendar to Create Growth Opportunities for Insulated Water Bottles Market

Changing preferences of consumers for choice of drinking bottles are boosting demand for insulated water bottles. Growing consciousness about health and hygiene has propelled the use of insulated water bottles for storing boiled water. In addition, consumers are opting to use the insulated water bottles for carrying the beverages or juices during trips, treks, and during long journey. This rising demand is boosting growth of the global insulated water bottles market. However, some studies are claiming the toxicity of such materials has inhibit the developments in global insulated water bottle market.

The sports end user segment of the global insulated water bottle market is expected to witness promising growth opportunities in the coming years of the forecast period. As the COVID-19 pandemic broke out and the world is slowly recovering from the initial lockdowns and shutdowns, sports industry is also slowly getting on track. Because of the major and enforced gap induced by COVID-19, the upcoming sporting calendar is expected to be quite hectic. With more matches and events in place, the athletes are expected to undergo greater than normal stress during the coming months. Moreover, with bio-secure bubble being made compulsory for almost all sporting activities, the sales for insulated water bottles is expected to witness a promising growth in the near future.

With changing requirements of consumer in terms of consuming drinking water, the demand for insulated water bottles has witnessed an upsurge. As a dietary lifestyle choice or a medical prescription, the consumption of hot water or warm fluids has increased among global consumers to a considerable extent. New technologies are being used to develop advanced insulated water bottles. Smart bottle technologies are being adopted to improve the functionality of insulated water bottles, while manufacturers are testing the insulation efficacy on new materials to extend their product lines.

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