A reusable water bottle is often reused by people several times. Reusable water bottles are commonly used to carry liquids such as water, soft drinks, and other beverages from one location to another in a convenient manner. It has been reported that a large range of reusable water bottles are available on the market, each with a unique material type, size, design, colour, and form. The simple availability, low cost, and convenience of reusable water bottles has increased demand for such water bottles all around the world.
The market of reusable water bottle will be of worth USD 11.7 billion at a CAGR of 4.3% during 2019-2029.
Covid-19 Impact & Market Status
The Covid-19 pandemic has had a huge influence on the market for reusable water bottles. This virus has interrupted the supply chain, causing the price of a litre of water to skyrocket. As a result, people are purchasing less water, which has a detrimental impact on the sector. The pandemic has also resulted in a decline in the demand for water bottles, which has further affected the industry. Under the optimistic scenario, the global reusable water bottle market was squat in the initial period demand grew again. Under the improbable scenario, on the other hand, the market is projected to stay under firm crisis control, and the situation may improve further. Despite the fact that the impact of the crisis may disrupt demand for reusable water bottles in a gloomy scenario, the market will begin to rebound in the near future.
Increasing CSR activities creates awareness
The global reusability of water bottles is gaining traction as consumers become more aware of the environmental benefits of reusing their drinking containers. The circular economy movement is encouraging consumers to think of their reusable water bottles as a disposable product with a lifespan of only one use. The reusability movement is also encouraging consumers to purchase refillable water bottles, which can be recycled and used again and again. Refilling water bottles has become a popular choice for many consumers, as it eliminates the need for consumers to regularly purchase new bottles and saves money over the course of the bottle’s lifespan. As a result, more and more people are now investing in reusable water bottles to help reduce the amount of plastic waste they produce. This is the reason for an increasing demand for the reusable water bottles
Product innovations and improvements lead to success in the reusable water bottle market
The worldwide market of reusable water bottles is extremely fragmented, with leading companies employing various strategies such as new product launches to achieve a larger market share. Manufacturers of reusable water bottles are focusing on product expansion in order to incorporate distinctive features in their present portfolio and to develop new reusable bottles with extra features.
Asia Pacific will be dominating the reusable water bottle market in the forecast period
The Asia Pacific region is likely to continue dominating the reusable water bottle market during the forecast period. Asia Pacific is home to major bottle manufacturers such as Nalgene and Klean Kanteen, which has helped the region in dominating the global market. The government has also realized the dangers of plastic water bottles and is actively pushing bottle makers to use eco-friendly materials such as glass and steel. In China, the government has realized the dangers of plastic water bottles and is actively pushing bottle makers to use eco-friendly materials. The government of India has also passed a law banning the sale of plastic water bottles, effective January 1st, 2019.
The reusable water bottle market is a viable business concept. The market is a burgeoning niche sector propelled by the notion of environmentalism. Thirst Aid developed the most popular reusable water container. The firm is a key participant in the market for reusable water bottles. Using reusable water bottles is one of the most efficient methods to save water. Reusable water bottles are not just good for the environment; they are also one of the most cost-effective solutions for individuals to save money and minimise their water impact.
Whether you prefer glass or plastic, there are several methods to get your water bottle fix without contributing to the plastic bottle trash that so many others do. Reusable water bottles are an excellent choice for individuals who want to help minimise plastic waste but do not want to give up their favourite flavour, design, or bottle shape. Most current reusable bottles are BPA-free and employ a combination of materials and technologies to create a bottle that will keep your beverages cold for hours or heated for up to 24 hours while looking and feeling brand new every time you use it.
The use of reusable water bottle has increased significantly in recent years. People are now more aware of the environmental advantages of transporting beverages in reusable bottles rather than throwaway bottles. Furthermore, the health benefits of drinking water from a glass bottle rather than a plastic bottle have enhanced the appeal of reusable bottles. The most obvious advantage of utilising a reusable water bottle is that it lowers the quantity of plastic that ends up in landfills. It is also long-term cost-effective.
The reusable water bottle market is more likely to grow significantly in the near future. Consumers are increasingly choosing for reusable water bottle goods as they become more conscious of the negative impacts of plastic waste on the environment. The increasing concern regarding the quality of water and the shortage of potable water has led to the increased use of reusable water bottle among the masses. The popularisation of the reusable water bottle has resulted in the establishment of various market leaders.
Since the invention of the bottle, the market for reusable water bottles has been gradually rising, aided by the recent advent of refillable water bottles and the spread of refillable water stations. However, many of the key drivers of the market are still in place. The primary drivers include demand for water as a beverage, growth in the population that will consume water for other purposes, and the ability to produce reusable bottles that are easy to recycle. It also includes cost, reduced environmental footprint, safety, and minimized cost of R&D.
The lower the cost of a reusable water bottle, the more likely people will purchase one. The lower the environmental footprint of a reusable water bottle, the more likely parents will purchase one. The lower the likelihood of a child becoming ill from drinking water from a reusable water bottle, the more likely parents will purchase one. The lower cost of R&D is enticing numerous market participants to invest more in research and development in order to develop an effective solution.
Growth of the market for eco-friendly products and environmental safety concerns are some of the main factors projected to fuel market expansion. However, several restricting factors, such as a lack of knowledge about the reusable market, as well as a lack of distribution channels, are projected to stymie industry expansion. However, stringent regulations regarding the use and disposal of disposable water bottles have also impacted the market.
The key market players in the reusable water bottle market includes Contigo, Nalgene, Hydaway, Tupperware Brands Corporation, CamelBak Products LLC. Aquasana Inc., Contigo, etc.
Major Developments in The Reusable Water Bottle Market: A Snapshot
- Nestle has created two new packaging designs for its mineral water bottles. The one-of-a-kind water bottles are intended to perform similarly to standard plastic bottles, but with far less plastic.
Reusable Water Bottle Market Scope :
|Revenue forecast in 2029
|USD 11.7 billion
|CAGR of 4.3 % during 2019-2029
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Contigo, Nalgene, Hydaway, Tupperware Brands Corporation, CamelBak Products LLC. Aquasana Inc., Contigo, etc.
Key Segment of the Reusable Water Bottle Market
- By Type
- By Channels
- Offline Stores
- By Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa