Wilmington, Delaware, United States, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global reusable water bottle market is projected to flourish at a CAGR of 3.6% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 12 billion is anticipated for the market in 2031. As of 2023, the market for reusable water bottle is expected to close at US$ 9.2 billion.
Increasing demand for sustainable options has led to a shift towards reusable alternatives. Increasing consumer awareness of the negative environmental impact of single-use plastic bottles and consumers are motivated to reduce plastic waste, lower their carbon footprint, and minimize pollution of oceans and landfills, and using reusable bottles.
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Competitive Landscape
The global reusable water bottles market is highly competitive. Based on segmental revenue strategies and developments of companies over the past five years, the completion among key players is carefully studied.
- CamelBak Products, LLC
- BRITA GmbH
- Klean Kanteen, Inc
- Tupperware Brands Corporation
- Contigo
- SIGG Switzerland AG
- Aquasana, Inc
- Bulletin Brands, Inc.
- Thermos L.L.C
- Nalge Nunc International Corp
- S-Well Corporation
- O2COOL, LLC
- Nathan Sports, Inc.
- Cool Gear International LLC USA, Inc.
Key Developments in the Reusable Water Bottles Market
- Nalgene, known for its durable bottles, introduced new colors and limited-edition designs. They maintained their commitment to producing BPA-free and eco-friendly products.
- Sigg focused on its aluminum water bottles, which are lightweight and recyclable.They emphasized the durability and longevity of their products as part of their sustainability message.
- Thermos continued to offer a wide range of insulated bottles and containers.They highlighted the temperature retention capabilities of their products.
- LifeStraw, known for its water purification products, introduced reusable water bottles with integrated filtration technology, allowing users to purify water on the go.
consumers are choosing reusable water bottles as a way to stay hydrated throughout the day owing to the increased focus on health and well-being. The user friendly features of reusable water bottles such as leak-proof lids, insulation, and integrated handles make them convenient for carrying to work, the gym, travel, and outdoor activities, and increased their sales.
The growing popularity of reusable water bottles among travelers, hikers, and outdoor enthusiasts who need a portable and reliable source of hydration while on adventures. The increased bans and restrictions on single-use plastics in various regions have prompted consumers to adopt reusable water bottles as part of a sustainable lifestyle.
Key Takeaways from the Market Study
- As of 2022, the reusable water bottle market was valued at US$ 8.9 billion
- In terms of material type, metal is the most lucrative segment and highly consumable material by manufacturers, as it is widely used for reusable water bottles.
- Based on the distribution network, the hyper/supermarket segment is expected to reach the market due to the frequent demand for reusable water bottles in hypermarkets/supermarkets is driving market growth significantly.
- Based on primary usage, the everyday segment is forecast to hold approximately 53% of the market share by the end of 2021, owing to the ease and convenience of handling reusable water bottles.
Reusable Water Bottles Market: Key Trends and Opportunistic Frontiers
- Increase in middle-class group, along with the increase in disposable income in developing countries as individuals and health concerns has increased the purchase of reusable water bottles
- Reusable water bottles come in a wide price range, making them accessible to a broad spectrum of consumers. There are options for budget-conscious shoppers as well as premium, high-end bottles for those willing to invest in quality.
- Many manufacturers of reusable water bottles package their products using eco-friendly materials, aligning with the sustainability message and reducing waste further.
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Reusable Water Bottles Market- Regional Analysis
- Asia Pacific is expected to dominate the reusable water bottle market owing to Increasing urbanization, changing lifestyles, and a growing awareness of environmental issues that contribute to the demand. China and India are major markets with a wide range of products catering to diverse consumer preferences.
- North America is another significant market for reusable water bottles, with countries like the United States and Canada leading the way. The increasing Environmental consciousness and a preference for sustainable products drive the market. Various brands, including local and international players, compete in this region
Reusable Water Bottles Market – Key Segments
Material Type
- Glass
- Metal
- Polymer
- Silicone
Distribution Network
- Hyper/Supermarket
- Independent Stores
- Online Sales
- Others
Primary Usage
- Everyday
- Sports
- Travel
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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