Published: May, 2019
The global reusable water bottles market is prognosticated to show a healthy growth over the coming years, as reported by Transparency Market Research (TMR). The business landscape of eth global reusable water bottles market features fragmentation, with the presence of a large pool of players. The entry of new vendors is amplifying the rivalry in this market. The vendors in the global reusable water bottles market are adopting several growth strategies in order to keep competitors at bay.
Mergers and acquisitions is a key strategy leveraged by vendors in this market to acquire a global footprint. The recent acquisition of Lifesfactory Inc., by Thermos demonstrates the company’s aims at fortifying their presence in the product segment of reusable glass water bottles. Other prominent strategies include new product launches, expansion of product portfolio, and strategic business alliances.
Key vendors operating in the global reusable water bottles market are Nalge Nunc International Corp., CAMELBAK PRODUCTS LLC, SIGG Switzerland AG, Klean Kanteen Inc., and Tupperware Brands Corporation.
TMR projects the global reusable water bottles market to rise at a 3.6% CAGR over the forecast period 2017 to 2025. With an estimated value of US$7.6 bn in 2016, the global reusable water bottles market is likely to be worth US$10.4 bn by 2025.
With a 3.3% CAGR, the segment of polymer among material types is expected to take on a leading role in the global reusable water bottles market. This could be attributed to the cost-effectiveness of the material.
In terms of geography, Asia Pacific is expected to emerge as a strong regional market for reusable water bottles and expected to garner US$1.20 bn in revenues over the forecast period.
Environment Sustainability Pivots Reusable Water Bottles Market
The recycled water bottles are produced with materials like metal, glass, silicone or multiple polymers. Different types of water bottles are used by consumers at home, in their fitness and during travel, such as insulated bottles, collapsible bottles and grower boxes. The use of reusable bottles of water can alleviate the negative environmental effects of disposable water bottles. Growing awareness of the environmental impact of disposable or single-use water bottles to promote the use of reusable bottles of water, which contributes to a greater decrease in plastic waste. This is a key factor propelling the global reusable water bottles market in forthcoming years.
Personalization to Emerge as Key Market Trend
Prominent players in the reusable water bottles market have adopted technological innovations that are commonly driven by the need to improve consumer experience. Manufacturers on the market of reusable water bottles are looking for unique methods of introducing attractive and individual reusable water bottles, which can improve the experience of users and finally increase their global consumption base. Leading manufacturers in the reusable water bottles market use advanced technologies for improving the design of reusable water bottles, enabling users to screw them out and open them for proper cleaning.
Ecommerce Viability Boosts Reusable Water Bottles Market Growth
Due to online shopping trends and easy accessibility the use of reusable water bottles will grow rapidly in the near future. In future, this will increase the market for reusable water bottles. Cutting competition allows businesses to significantly cut prices leading to increased demand for reusable bottles of water. The global reusable water bottles market is thus further stimulated.
This review is based on TMR’s report titled, “Reusable Water Bottles Market (Material Type - Glass, Metal, Polymer, and Silicone; Distribution Network - Hyper/Supermarket, Independent Stores, and online Sales; Primary Usage - Everyday, Sports, and Travel) - Global Industry Analysis and Forecast 2017 - 2025.”
The global reusable water bottles market is segmented into:
By Material Type
By Distribution Network
- Independent Stores
- Online Sales
By Primary Usage
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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