New York (US), July 14, 2023 (GLOBE NEWSWIRE) -- Reusable Water Bottles Market Overview
The research documents by MRFR indicate that the “Reusable Water Bottles Market Research Report Information by Distribution Channel, Region, and Material Type - Forecast Till 2032”, the Reusable Water Bottles market is predicted to grow substantially over the assessment timeframe from 2022 to 2032 at a healthy CAGR of around 4.60%. The reports even share predictions regarding the market's growing revenue share, which will likely reach USD 12.7 Billion by the end of 2032. As per the reports, the market was worth nearly USD 8.5 Billion in 2022.
Reusable water bottles are an essential accessory for the eco-conscious individual. With the growing concern for environmental sustainability, these bottles offer a practical solution to reduce plastic waste. Made from durable materials like stainless steel or BPA-free plastic, they are portable and easy to refill, encouraging a healthier lifestyle while minimizing single-use plastic consumption
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Competitive Analysis
The catalog of the top leaders across the global Market for Reusable Water Bottles includes players such as:
- S’well
- Tupperware Brands Corporation
- Contigo
- SIGG Switzerland AG, GmbH
- Aquasana Inc.
- CamelBak Products, LLC
- Hydaway
- Klean Kanteen
- Nalgene
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size 2032 | USD 12.7 Billion |
| Compound Annual Growth Rate (CAGR) | 4.60% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Dynamics | Growing concern about environmental risks, improvements in mobility, and a shift in workplace culture |
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Market Drivers
The global Reusable Water Bottles industry has advanced enormously in recent years. The primary aspects causing a surge in market performance are the growing awareness regarding environmental hazards, switching permanently from single-use plastic bottles to reusable water bottles, a sharp increase in the volume of plastic waste in landfills & the oceans, a high propensity for picnics & outdoor activities in city parks, and affordability of reusable water bottles.
Market Restraints
However, some aspects may limit the market's performance. The main aspect limiting the market's development is the high costs linked.
COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Reusable Water Bottles industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era. In addition, several governmental organizations and key market players are collaborating and, therefore, introducing solutions like innovations and research and development processes through excellent funding that will positively impact the global market for Reusable Water Bottles over the review timeframe.
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Segment Analysis
Among all the material types, the plastic segment secured the leading position across the global market for reusable water bottles in 2022, given mainly to the producers to cheap manufacturing costs. Consumer interest in using reusable water bottles has increased because of the longer lifespan of plastic bottles, which is assisting in the segment's growth. Reusable bottles are greater than standard plastic bottles in some ways.
Among all the distribution channels, the supermarkets & hypermarkets segment secured the leading position across the global market for reusable water bottles in 2022, given mainly to the wide selection of products offered under one roof and the stores' persuasive structure, this technique of shopping is becoming increasingly popular with consumers. Furthermore, the growing e-commerce and smart device use, as well as by easy payment options and marketing incentives.
Regional Analysis
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World.
The research documents by MRFR indicate that The Asia-pacific Region is anticipated to secure the leading position across the global Reusable Water Bottles industry over the coming years. The regional market is projected to showcase the maximum growth rate over the assessment era. India, China, and Indonesia are the leading development contributors in the region. Further, the China Reusable Water Bottles Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The main aspect supporting regional market expansion is the government initiatives assisting bottle makers in utilizing eco-friendly and sustainable materials due to awareness of the risks posed by plastic water bottles. Furthermore, the growing awareness regarding environmental safety is also projected to impact the regional market's growth positively.
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The North American Region secured the second position across the global Reusable Water Bottles industry in 2022. The region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Reusable Water Bottles Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional market expansion is rapid urbanization and a shift in lifestyle. People opt for reusable water bottles over conventional disposable ones as they implement a healthier lifestyle and consider how to preserve the environment. The industry is also fuelled by global measures to safeguard marine life from the toxic plastic dumped in the oceans.
The European Region anticipates ensuring the second spot across the global Reusable Water Bottles industry over the coming years. The region has France, Germany, and the U.K. as the leading development contributors. Further, the German Reusable Water Bottles Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. The region's main aspect supporting regional market expansion is rapid urbanization and a shift in lifestyle. People opt for reusable water bottles over conventional disposable ones as they adopt healthier lifestyles and consider how to preserve the environment. The regional market's growth is the global measures to protect marine life from hazardous plastic dumped in the waters.
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