Smart Bottle Market
Smart Bottle Market (Application - Water bottle, Pharmaceutical Bottle, and Alcoholic Beverage Bottle; Distribution - Online and Offline) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Press Release :
Global Smart Bottle Market: Snapshot
Smart bottles, the technologically advanced bottles that encompass wireless communication capabilities for connecting with computing devices such as smartphones or wearables and an artificial memory that helps provide alerts through display or sound system, are one of the most popular products in the world’s technology-obsessed circles. With applications presently spanning across the drinking water, pharmaceutical, and alcoholic beverages sectors, smart bottles are increasingly gaining traction and are observing vast developments in terms of innovation and technology advances.
Transparency Market Research estimates that the global smart bottle market, which was pegged at US$88.6 mn in 2016, will reach US$258.8 mn by 2024, registering a CAGR of 14.3% between 2016 and 2024.
Water Bottles to Remain Most Promising Application for Smart Bottles
On the basis of application, the global smart bottle market has been segmented in the report into water bottle, pharmaceutical bottle, alcoholic beverage bottle and other bottle. Of these, the segment of water bottles is presently the leading revenue contributing application segment in the global smart bottle market, accounting for a massive 56.4% of the overall market in 2016. The segment is expected to continue to tread along an excellent growth path over the report’s forecast period, gaining a notable rise in its share global market by the end of the forecast period.
The segment of pharmaceutical bottles, presently holding the second position in the global smart bottle market in terms of revenue contribution, is expected to exhibit a promising 13.0% CAGR over the forecast period and retain its position. The segment is, however, expected to lose its share in the global market by the end of the forecast period. Other application segments are also expected to lose share in the global market by the end of the forecast period, with the segment of water bottles capturing the market.
North America Market to Remain Top-gaining Regional Market for Smart Bottles
North America is the prominent region and holds the dominant share in the global smart bottle market, due to strong technology embedded manufacturing capabilities in the region. The region is also expected to lead the global market in terms of overall revenue contribution and rate of growth over the report’s forecast period. The market in APAC region is expected to emerge as one of the most promising avenues for the smart bottles market. The region is expected to attract investments from smart bottle manufacturers particularly targeting the growth opportunities arising from the thriving e-commerce industry. The APAC smart bottle market is expected to constitute the third-largest share in the global market by 2024 with a drop of 240 bps over the forecast period.
The Europe market for smart bottle is expected to expand at a CAGR of 13.8% with sales particularly concentrated in Germany and U.K. regions. Spain and Italy markets are expected to witness healthy growth rate due to presence of considerable number of smart bottle packaging manufacturers. Latin America market for smart bottle constituted 7.1% of the global market in 2015 and is expected to register growth at a moderate pace over the report’s forecast period. The Middle East and Africa (MEA) smart bottle market is also expected to exhibit a sluggish CAGR of 8.4% over the forecast period.
Some of the leading players operating in the global smart bottle market are Hidrate Inc., Myhydrate, Kuvee, Inc., Thermos LLC, Adheretech Inc. Sippo, Trago, Inc, Spritz, Hydrasmart, and Ecomo Inc.
Smart Bottles Market to Make Strides on Back of Manufacturers Leaning on Harnessing New Consumer Perceptions
Meeting hydration needs for boosting health has become smarter and tracking fluid intake has become amazingly easier. What makes smart bottles different from normal bottles is rooted in technologies, sensors, apps, and speakers, all of which aim at making daily fluid intake interesting and healthier. Whether it is constant reminder to sip the favorite beverage, or Bluetooth syncing, or interactive fitness monitoring, there are several features that make smart bottles what they are called. The growing demand for smart bottles among tech-savvy health conscious individuals is a key trend in the smart bottles market. New designs and sensor capabilities further spur the popularity of smart bottles among institutional buyers. Smart bottles have come to popularly used in storing favorite caffeinated beverages and using smart technology to infuse the drinks with herbs. Hydration has never before became smarter, believes manufacturers and retailers in the smart bottles market. Growing demand for these among working professionals will help bolster the revenue prospects of the market throughout the forecast period.
The wireless feature and sonar technology has been some of the amazing innovations with which makers of smart bottles look to allure target consumers. The use of smartphone apps for fitness monitoring is one of the numerous features that will shape the consumer value propositions in the smart bottles market. The currently emerging COVID-19 has dampened the consumer sentiment and making them reduce their discretionary spending. The post-pandemic world has thus seen businesses across industries to seek new business models and shun the unprofitable ones to attract consumers. Such initiatives will also businesses in the smart bottles market to position their products in innovative ways to nudge consumers loosen their purse strings. Further, the growing focus on health might also lend a steady impetus to the demand for smart bottles. However, industry players must aim for new consumer value capture strategies to reap long-term profits.
Global Smart Bottle Market: Overview
Transparency Market Research examines the Global Smart Bottle Market for the forecast period 2016-2024. The primary objective of the report is to identify opportunities in the market and present updates as well as insights pertaining to various segments of the global smart bottle market.
The report begins with an overview of the global smart bottle market, evaluating market performance in terms of revenue, followed by TMR’s analysis of key trends, drivers, and restraints witnessed in the global market. Impact analysis of the key growth drivers and restraints based on the weighted average model is also included in the report.
To compute the market size, in-depth secondary research is done. Data points such as regional splits and market split by application and distribution type has been assimilated to arrive at appropriate market estimates. The report comprises the forecast of the global revenue generated by the sales of smart bottle market.
TMR triangulates the data via different analysis based on supply side, demand side as well as the dynamics of smart bottle market.
TMR not only conducts forecasts in terms of value, but also evaluate the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
Global Smart Bottle Market: Scope of the Report
Vital feature of this report is the analysis of the global smart bottle market by region, application type and distribution type; and the corresponding revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from sales perspective of the global smart bottle market.
To understand key segments in terms of their growth and performance in the smart bottle market, Transparency Market Research has developed a market attractiveness index. The resulting index should help providers identify existing market opportunities in the global smart bottle market.
In the final section of the report, smart bottle market competitive landscape is included to provide a dashboard view of companies that manufacture and provide services of smart bottle market. The report contains company profiles of some of the players in the global smart bottle market.
Some of the players operating in the global smart bottle market include Hidrate Inc., Myhydrate, Kuvee, Inc., Thermos LLC, Adheretech Inc. Sippo, Trago, Inc, Spritz, Hydrasmart, Ecomo Inc.
Global Smart Bottle Market: Segmentation
In order to understand and assess opportunities in this market, the report is categorically divided into three key sections on the basis of application type, distribution type and region. The report analyses the global smart bottle market in terms of value (US$ Mn) and volume (Thousand units)
By Application Type
By Distribution Type