Growth in the popularity of sustainable products and increase in environmental awareness among consumers are the key driving factors of the global reusable water bottle market.
WILMINGTON, Delaware, June 5, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Reusable Water Bottle Market by Material (Plastic, Glass, Stainless Steel, Aluminium, and Others), and Distribution Channel (Supermarket/hypermarket, Departmental Store, Online Store, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the reusable water bottle market was valued at $8,778.5 million in 2022 and is estimated to reach $13,549.0 million by 2032, growing at a CAGR of 4.5% from 2023 to 2032.
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Prime determinants of growth
The growth of the global reusable water bottle market is driven by factors such as a rise in demand for sustainable products and rise in environmental awareness among consumers. However, high costs and availability of alternatives restrict the market growth. On the contrary, expansion opportunities in emerging markets are expected to offer new opportunities in the coming years.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size In 2022 |
$8,778.5 Million |
|
Market Size In 2032 |
$13,549.0 Million |
|
CAGR |
4.5 % |
|
No. Of Pages In Report |
230 |
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Segments Covered |
Material, Distribution Channel, And Region |
|
Regional Scope |
North America, Europe, Asia-Pacific, Latin America, And Middle East And Africa |
|
Country Scope |
U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Argentina, Saudi Arabia, South Africa, And United Arab Emirates |
|
Drivers |
Rise In Environmental Awareness Growth Of Health-Conscious Consumers Rise In Corporate Sustainability Initiatives |
|
Opportunities |
Introduction Of Educational Initiatives In Emerging Countries |
|
Restraints |
High Cost Availability Of Alternatives |
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The plastic segment to maintain its leadership status throughout the forecast period
By material, the plastic segment dominated the market in 2022, accounting for less than two-fifths of the market share and is expected to dominate the market during the forecast period. Plastic is a common raw material for making reusable water bottles due to its lightweight, convenience, and ease of production. Polyethylene terephthalate (PET) is one of the most often used materials for water bottles.
The supermarket/hypermarket segment is expected to maintain its lead position during the forecast period.
On the basis of the distribution channel, the supermarket/hypermarket segment dominated the market in 2022, accounting for more than two-fifths of the market share and is expected to maintain its dominance during the forecast period. The increased demand for ecologically friendly & sustainable water containers and the exhaustive product offerings of unique reusable water bottles in the hypermarkets are the main factors boosting the sales.
Asia-Pacific to maintain its lead position during the forecast period
Region wise, Asia-Pacific dominated the market in 2022, accounting for more than one-third of the market share and is expected to maintain its dominance during the forecast period. The increasing environmental awareness and concerns about plastic pollution are driving consumers toward sustainable alternatives such as reusable water bottles in Asia-Pacific. Governments and environmental organizations in many countries are also implementing policies and campaigns to promote sustainable living, further boosting the demand for reusable water bottle market.
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Leading Market Players: –
- Tupperware Brands Corporation
- SIGG Switzerland AG, GmbH
- CamelBak Products, LLC
- Klean Kanteen
- Contigo
- Aquasana Inc.
- Hydaway
- Nalgene
- S’well
- Ocean Water
The report provides a detailed analysis of these key players in the reusable water bottle market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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