NEWARK, DE / ACCESSWIRE / August 9, 2022 / The reusable water bottle market has been valued at US$ 8.9 billion in 2022, and it is expected to grow at a CAGR of 3.6 to reach US$ 12.7 billion by 2032.
People are taking on the responsibility of reducing their contribution to the plastic problem as they become more aware of the environmental hazard. Furthermore, people's proclivity for outdoor activities and picnics in open spaces, neighborhood parks, and public trails suggests that reusable bottles of all kinds have a bright future.
Unfurl of sustainability practices
Reusable water bottles are becoming more popular as sustainable practices spread around the world. Government regulations and initiatives have increased the demand for reusable bottles, as single-use plastic bottles are harmful. In addition, reusable water bottles can be used for a longer time and are cost-efficient water bottles.
Polymer-based reusable water bottled captured the largest market share within the material type segment due to the easy availability of polymer substances and the low cost of manufacture. With a combined share of more than 30%, supermarkets and hypermarkets dominate the sales channel segment.
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Fear of an Environmental Disaster in the Energy Sector
The energy sector's growing concern about a potential environmental disaster has prompted them to take bold steps toward sustainability. International climate change and environmental risk monitoring organizations have issued unequivocal calls for a lifestyle change. Reusable water bottles have come to the forefront as a means of encouraging sustainable practices across leading industries. The factors mentioned above have fueled demand in the market for reusable water bottles.
Technological Innovations and Breakthroughs
The innovations and technological advancements by the manufacturers have allowed the bottles to be more sustainable. Increasing environmental issues have the attention of the government and consumers, people are now opting for products that have fewer carbon effects on the environment. Reusable water bottles are safe and can be used multiple times.
Key Takeaways from Reusable Water Bottles Market
- Metal bottles are projected to be the top material type segment anticipated to expand at a CAGR of 4.1% owing to its ability to keep the beverage items hot or cold for a longer time.
- Hyper/Supermarket segment to lead the distribution channel segment of the reusable water bottles market which is projected to account for 35% of the market value share by the end of 2022.
- The hyper/supermarket segment is expected to lead the distribution channel segment of the reusable water bottle market, with a CAGR of 3.8%.
- By primary usage, the everyday segment is anticipated to expand at a CAGR of 4.0%.
- The primary usage segment is projected to create an incremental opportunity of US$ 2.3 Bn during 2022-2032. As the consumer carry their own bottles with them to the gym, office, or other places.
- The U.S. reusable water bottles market to have the highest market size of US$ 2,236 Million for 2032 with a sluggish CAGR of 3.3%.
- India is expected to lead with the highest CAGR of 5.1% during the forecast period, reaching US$ 991 Million by 2032.
- China is expected to have the second highest CAGR of 4.5% for 2032, reaching US$ 1183 million by 2032.
"Various initiatives and rising awareness for the reusable and eco-friendly packaging is creating opportunities for the manufacturers for the reusable water bottles. Also, due to the harmful effects of the single-use bottles, customers are shifting towards the usage of reusable water bottles." - says FMI analyst
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Increased Use of Metal Reusable Water Bottles to Mitigate Plastic Waste May Bump up Market Growth
Plastic waste is increasing creating harmful effects that are witnessed almost in every region. Plastic bottles are items, which are majorly increasing waste. To reduce the waste of plastic, people are focusing on the usage of metallic water bottles.
They are considered more durable and stronger compared to plastic bottles. Manufacturers are also trying to innovate such bottles that can be affordable and sustainable. In addition, the metal bottles are cheaper in long run and can keep the beverage hot & cold for a longer time. Thus, to reduce the waste generated by plastic bottles, metal water bottles are the best suitable option.
Government Promotions of Reusable and Sustainable Packaging Upsurge Sales of Reusable Water Bottle
The government and other organizations have raised awareness about the increasing packaging & other plastic waste on the environment. The government and other communities have taken initiatives to reduce single-use plastic packaging. Reusable and sustainable packaging is trending, as it is eco-friendly and does not have any harmful effect on the environment.
For instance, national parks in the US have banned the use of single-use plastic water bottles inside their premises to keep the parks free from plastic waste. Such initiatives and consciousness regarding reusable packaging are boosting the reusable water bottle market growth.
Reusable water bottle demand has been fueled by social initiatives such as "Refill the Planet." Reusable water bottles are in high demand as a result of global efforts to reduce the use of plastic bottles.
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Reusable Water Bottles Market Landscape
CAMELBAK PRODUCTS LLC, Klean Kanteen, Inc., AptarGroup, Inc., BRITA GmbH, HYDAWAY and SIGG Switzerland AG are the key players operating in the global reusable water bottles market. Also, some of the noticeable players operating in reusable water bottles are Contigo, AQUASANA, INC, Thermos L.L.C., Nalge Nunc International Corp, Petainer Ltd., Tupperware Brands Corporation, Bulletin Bottle, BIDONEX, Alpha Packaging, S'Well Corporation, Emsa GmbH, and others.
Some companies, such as Newell Brands and Nalge Nunc International Corporation, are also working with film studios such as Marvel and Disney to gain publicity or promote their recycled water bottles.
Klean Kanteen is a company that sells reusable water bottles and is well-known for its Climate Neutral Certified products. Manufacturers of reusable water bottles are taking cues from such innovations to create BPA-free and dishwasher-safe bottles.
Reusable Water Bottles Market Report
Future market insights, in its new report, offers an unbiased analysis of the global reusable water bottles market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032.
The study reveals market growth projections on reusable water bottles based on the material type (glass, metal, polymer and silicone), distribution network (hyper/supermarket, independent stores, online sales and others), and primary usage (everyday, sports, travel and others) across seven regions.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Impact of Covid-19
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Macro Factors and Forecast Factors
3.4. Value Chain Analysis
3.4.1. Profit Margin Analysis
3.4.2. Raw Material Suppliers
3.4.3. Manufacturers, Wholesalers and Distributors
3.4.4. End Users / Customers
3.5. Regional Parent Market Outlook
3.6. Production and Consumption Statistics
3.7. Global Average Pricing Analysis Benchmark
4. Global Reusable Water Bottles Market Analysis 2015-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Bn) & Volume (Units) Analysis, 2015-2021
4.2. Current and Future Market Size Value (US$ Bn) & Volume (Units) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
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