Reusable Water Bottle Market Expected To Fuel Industry Growth With $10.6 Billion By 2025: Grand View Research Inc.

 


The global reusable water bottle market size is anticipated to reach USD 10.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.9% over the forecast period. The growth of the market is attributed to increase in demand for convenience products due to improving living standards and change in lifestyle, along with shift in consumer preferences towards using reusable water bottle.

The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution networks to online channels in order to cater to the surging consumer demand. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.

According to Forbes Media LLC, every minute humans buy a million plastic bottles and the fact that 91% of all plastic is not recycled is becoming a threat to the environment. However, shift in consumer demand towards the environmental friendly products and easy to carry bottles is a major factor fueling the market growth.

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https://www.grandviewresearch.com/industry-analysis/reusable-water-bottle-market/request/rs1

Leading players of the market include Tupperware Brands Corporation; SIGG Switzerland AG, GmbH; CAMELBAK PRODUCTS LLC; Nalge Nunc International Corp.; and Klean Kanteen Inc. The companies focus on strategic initiatives like collaborations, new product development, and attractive designs to gain a competitive advantage over others.

In 2018, Asia Pacific held the largest share of more than 30.0% due to presence of developing countries like India and China. Improved living standards and increase in disposable income have spurred the demand for reusable water bottle. Rise in purchasing power and growing health consciousness across the globe are accelerating the market growth.

Further key findings from the report suggest:

  • The global reusable water bottle market is expected to expand at a CAGR of 3.9% from 2019 to 2025
  • By material type, the silicone segment is expected to expand at the highest CAGR of 4.3% over the forecast period
  • Supermarket and hypermarket distribution channel accounted for the largest share of 38.4% in 2018
  • The online segment is anticipated to register a CAGR of 4.2% over the forecast period due to rising penetration of e-commerce and low cost of startups
  • Asia Pacific held the largest share of more than 30.0% in 2018.

A fusion of the fashion and wellness industries is resulting in an increase in the demand for reusable water bottle amongst the modern customers. For instance, S’well and Swarovski together launched a bottle with over 6,000 crystals and a premium price. Reusable water bottle with attractive and stylish designs as well as additional features is becoming a popular trend in the market.

In 2018, the plastic material type held the largest market share in 2018. However, the silicone material type is projected to expand at the fastest CAGR of 4.3% from 2019 to 2025. The benefits associated with silicon reusable water bottle such as heat resistant and chemically non-reactive make it beneficial for health and environment.

Supermarket and hypermarket accounted for the largest share of 38.4% in 2018. The online segment is estimated to expand at the highest CAGR of 4.2% from 2019 to 2025. Rising penetration of e-commerce and low cost of online startups are the major factors spurring the growth of the segment.

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Grand View Research has segmented the global reusable water bottle market on the basis of material type, distribution channel:

Reusable Water Bottle Material Type Outlook (Revenue, USD Billion, 2015 - 2025)

·         Glass

·         Metal

·         Plastic

·         Silicone

Reusable Water Bottle Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)

·         Specialty Store

·         Convenience Store

·         Supermarket & Hypermarket

·         Online

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com

 

 

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