New York, April 25, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on “Eco-Friendly Water Bottle Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material (Paper, Metal, Glass, and Others), Distribution Channel (Supermarket and Hypermarkets, Specialty Stores, Online Retail, and Others), and Geography,” The report highlights key factors driving the market growth and prominent players along with their developments in the market. The eco-accommodating water bottle market is becoming because of the rising interest from shoppers with high ecological mindfulness, who favor utilizing individual water bottles as a substitute for bundled drinking water bottles. Also, the developing limitations on plastics are moving the interest for eco-accommodating water bottles.
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| Report Coverage | Details |
| Market Size Value in | US$ 8.19 Billion in 2021 |
| Market Size Value by | US$ 11.06 Billion by 2028 |
| Growth rate | CAGR of 4.4% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 134 |
| No. Tables | 56 |
| No. of Charts & Figures | 73 |
| Historical data available | Yes |
| Segments covered | Material, Distribution Channel |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Eco-Friendly Water Bottle Market: Competitive Landscape and Key Developments
Chilly's; S'well; Ocean Bottle; Corkcicle; Hydro Flask; Bottles Società Benefit S.r.l. P.IVA; Frank Green; Qwetch; Klean Kanteen; and Kinto Co., Ltd. are among the prominent players operating in the eco-friendly water bottle market.
The eco-friendly water bottle market size is growing due to the regulations pertaining to single-use water bottles as well as the rising consumer awareness regarding environmental sustainability. The market is further driven by product innovations such as bottles with water filtration and insulation capabilities. Klean Kanteen, Soma, Hydro Flask, LARQ, and S'Well are among the prime eco-friendly water bottle manufacturers, providing high-quality options to customers. E-commerce is introducing different trends in the market, alongside ensuring the global reach for these manufacturers. It expedites the process of buying products, and provides an alternative to store and product listing, along with reducing the overall costs of physical merchandising. E-commerce platforms allow consumers to compare different products and thoroughly check the product details in their comfort. Therefore, the emerging e-commerce industry is expected to provide lucrative opportunities to the market players in the next few years.
In 2020, Asia Pacific accounted for the largest share of the eco-friendly water bottle market size. Further, the region is expected to account for the highest CAGR during the forecast period. The Asia Pacific eco-friendly water bottle market share is further segmented into China, India, Japan, South Korea, Australia, and Rest of Asia Pacific. An increase in the middle-class population in this region and the rising consumer awareness about eco-friendly products drive demand for eco-friendly water bottles. Growing emphasis on environmental sustainability by many governments encourages manufacturers to adopt eco-friendly packaging solutions.
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Growing Awareness Regarding Environmental Sustainability Boosts Market Growth
The market for eco-friendly water bottle has exhibited substantial surge in demand due to the growing promotional measures by governments for environmental conservation. The large-scale use of eco-friendly bottles is likely to aid the restoration of the environment in the long term. Moreover, the production of reusable water bottles has overall less carbon footprint considering the lifecycle of product, further lowering the volumes of plastic waste in landfills. Eco-friendly water bottles can be washed and reused again, and are proving to be a healthier choice among people. Copper bottles have a great appearance and aesthetic value and are found to have health benefits; moreover, they last longer. The sustainability of eco-friendly water bottles is expected to create lucrative opportunities for the companies offering these bottles.
Eco-Friendly Water Bottle Market: Segmental Overview
Based on material, the eco-friendly water bottle market is segmented into paper, metal, glass, and others. In 2020, the metal segment accounted for the largest market share, and it is expected to register the highest CAGR during the forecast period. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2020, the supermarkets and hypermarkets segment accounted for the largest market share, and the online retail segment is expected to record the highest CAGR during the forecast period.
In 2020, the supermarkets and hypermarkets segment held the largest market share. The availability of a wide variety of products under one roof attract customers to shop at these stores. Furthermore, consumer-oriented product placement that aids them in selecting and purchasing the product faster than waiting for its delivery, as is the case with online purchases.
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Impact of COVID-19 Pandemic on Eco-Friendly Water Bottle Market
As the COVID-19 pandemic devastated communities and forced a nationwide shutdown, certain outdoor spaces became preferred destinations to safely socialize, improve physical and mental health, and connect with family and recover from screen fatigue. A growing number of people have been adopting outdoor physical activities—including running; jogging; hiking; freshwater, seawater, and fly-fishing; road biking; mountain biking; and new place explorations—due to increased health consciousness.
According to the Outdoor Industry Organization’s report published in 2021, 7.1 million Americans participated in outdoor recreation in 2020. Therefore, many key players have introduced health drinks and different water types with attractive containers or bottles. Advertisement campaigns by key players encouraged consumers to opt for healthy drinks to keep them hydrated and energized. Therefore, the market is anticipated to continue to grow at a steady pace during the forecast period.
Based on material, the metal segment is expected to be the fastest-growing segment during the forecast period. The characteristics of metal water bottles, such as durability and reusability, are expected to propel the eco-friendly water bottle market growth.
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In 2020, Asia-Pacific accounted for the largest share of the global eco-friendly water bottles market. The eco-friendly water bottle market has expanded significantly as governments and consumers have become more concerned about environmental issues. Manufacturers' increasing investments on research and development are crucial factors impacting the eco-friendly water bottle market positively.
In 2020, the metal segment held the largest market share. Metal acts as a better shielding barrier than any plastic material. Metal is abundant in nature and can be recycled again with minimal energy waste during manufacture, lowering the overall cost of production for eco-friendly water bottles. These factors contribute to the growth of the eco-friendly water bottle market.
The global eco-friendly bottle market is expanding rapidly due to increased public and government awareness about environmental protection. The crucial driver propelling the market is the increased availability of a diverse selection of items from various brands on e-commerce platforms with services such as free delivery and promotional discounts.
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