ALBANY, New York, June 18, 2018 (GLOBE NEWSWIRE) -- The global reusable water bottles market features a fairly fragmented landscape on account of the presence of a plethora of players, with the leading five players accounting for mere 6% in the global market, notes Transparency Market Research (TMR). The market is also intensely competitive due to the low entry barrier for new entrants. The constant flux of new players attracted by the ripe opportunities that the market has been offering ups the ante for incumbent and emerging players to retain their shares in the global market.
In order to command sizeable shares in the global reusable water bottles market, top players actively undertake capacity expansions and enter into strategic alliances. They are also launching new products to stay ahead of their competitors. Furthermore, they are capitalizing on innovative technologies to impart new properties to their products.
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Leading players operating in the market are Nathan Sports Inc., Cool Gear International LLC, O2COOL LLC, Bulletin Bottle, Thermos LLC, AQUASANA Inc., Contigo, SIGG Switzerland AG, Klean Kanteen Inc., Nalge Nunc International Corp., CamelBak Products, LLC, Brita GmbH, Tupperware Brands Corporation, and S’Well Corporation.
The global reusable water bottles market is forecast to rise at a CAGR of 3.6% from 2017 to 2025. The opportunities in the market is projected to rise from a worth of US$7.6 billion in 2016 to touch a valuation of US$10.4 billion by the end of the forecast period.
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The various materials used in the making of reusable water bottles are metal, glass, silicone, and polymer. Of these, metal is the leading segment and is expected to hold over 33.0% global market share over the assessment period. The rising demand for environmental-friendly materials accounts for the extensive uptake of metal water bottles world over.
Among the various regional markets for reusable water bottles, Asia Pacific leads the pack, vis-à-vis volume and value. The regional market is anticipated to reach a worth of US$1,208.5 million by 2025 end. The substantial expansion of this regional market is attributed to the vastly rising demand for safe and hygienic water bottles among the population.
Shift of Consumers toward Eco-friendly Options underpins Rising Demand
The reusable water bottle market is driven by the changing consumer preference of reusable water bottles over single use ones, attributed to the need for eco-friendly options for storing water. The considerable non-biodegradable waste generated from the disposal of single-use water bottles has led to their declining popularity over time.
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Manufactures of water bottles are developing new products with novel, environmental-friendly materials, which are attracting new set of consumers. For instance, insulated water bottles to keep hold and cold liquids at the required temperature for prolonged period has gathered steam among consumers in recent years. In emerging economies, the burgeoning demand for reusable water bottles is increasingly supported by the vast rise in disposable incomes, especially of middle-class populations. The advent of products with new features such as embedded infusers and mist sprayers has expanded the horizon of the market.
Concern of Plastic Disposability and Ill-effects of Plastics work in Favor of Market’s Expansion
The market for reusable water bottles is reaping huge gains from the discontinuation of water bottles made of plastics. With the mounting global concern of plastic waste flooding the landfills and causing considerable pollution, the demand for bottles made of non-biodegradable plastics has tanked substantially world over. Coupled with this, a growing number of consumers are waking up to the ill-effects of the water being consumed out of plastic bottles with the notable concern being the leaching of toxic chemicals to water on prolonged usage. These factors have turned the table in favor of reusable water bottles made of metals.
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High Cost of Metal Water Bottles hindering Uptake
The attractive strides the bottled water market has been experiencing world over, coupled with the high cost of reusable water bottles made of aluminum, glass, or steel, has crippled the demand for reusable bottles, especially among price-sensitive consumers. The notable ease of availability of bottles water of various sizes in retail stores is another factor hindering the uptake of reusable water bottles.
Nevertheless, the growing inclination to reduce plastic waste and rising level of awareness of the several benefits of metal water bottles will expand the prospects of the market.
The study presented here is based on a report by Transparency Market Research (TMR) 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”.
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