Escalation in outdoor sports and mountaineering activities will fuel the demand for reusable water bottles in the foreseeable future.
ROCKVILLE, MD / ACCESSWIRE / May 27, 2020 / The proliferation of anti-plastic campaigns has offered new growth horizons for manufacturers of reusable water bottles. Further, highly-favored attributes such as their non-reactivity, easy maintenance, and recyclability is complementing the market growth. According to Fact.MR’s analysts, the global reusable water bottle market is on course at a steady 4% CAGR through 2030. Additionally, several government-backed initiatives will favor the sales of reusable water bottles through the projection period (2020-2030).
“Major players must engage in innovating the design and functionality of reusable water bottles for solid competitive ascendancy,” concludes Fact.MR.
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Key Takeaways of Reusable Water Bottle Market Study
- Polymer based reusable water bottle segment continues to capture about 30% share owing to lower manufacturing costs.
- Supermarkets/hypermarkets are anticipated to become preferred sales channel after the pandemic abates.
- Demand for reusable water bottles will remain concentrated in economically developed regions.
- Asia Pacific Excluding Japan (APEJ) will register noteworthy growth in reusable water bottle market through 2030.
Reusable Water Bottle Market – Key Drivers
- The need for environmental protection and sustainability and stringent regulations on the use of plastic bottles will bolster the growth of reusable water bottle market during the projection period.
- Heightening demand for convenience products will stoke market growth through 2030.
- Enhanced consumer lifestyle coupled with increasing net worth income is a significant market growth contributor.
- Prolific demand for reusable water bottles in food and beverages will bode well for expansion of manufacturers’ revenue pools.
Reusable Water Bottle Market – Key Impediments
- Supply chain disruptions caused by the COVID-19 pandemic are hindering sales of reusable water bottles.
- Fragmented competitive landscape poses challenge for players to gain substantial revenue share in the reusable water bottle market.
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Anticipated Impact of COVID-19 on Reusable Water Bottle Market
The global outbreak of COVID-19 has hampered trade of reusable water bottles, particularly in polymer based reusable water bottles segment. Moreover, the uncertainty surrounding the pandemic has made it extremely challenging to derive solid conclusions regarding the fate of reusable water bottle market. Demand for retail and consumer goods has suffered immensely due to several roadblocks amid COVID-19 pandemic. Reusable water bottles are witnessing a sharp drop in demand due to them being non-essential products. The most critical challenge is the movement of goods due to reduced manpower and number of vehicles on the road. This trend is projected to continue through the second quarter of 2020.
Competition Landscape of Reusable Water Bottle Market
The global reusable water bottle market is characterized by highly fragmented competitive landscape. Some of the major manufacturers in the global reusable water bottle market that are featured in this Fact.MR report include, but are not limited to, Brita GmbH, Camelbak Products LLC., Tupperware Brands Corp., Klean Kanteen, Inc., Aquasana, Inc., Thermos LLC, and Contigo. New product releases with added features is the key tactic being followed by top players in reusable water bottle market. Companies such as Nalge Nunc International Corporation and Newell are collaborating with Disney and Marvel for promoting their new products. Moreover, Cove introduced a new line of biodegradable reusable water bottles in 2019 aimed at improving sustainable business practices.
About the Report
This 170 page study offers in-depth commentary on the reusable water bottle market. The study provides compelling insights on the reusable water bottle market on the basis of material type (polymers, metals, glass, and silicone), product type (plain, insulated, filtered, collapsible, infuser, and growlers), primary usage (everyday, sports, and travel), size (8-12 Oz, 16-27 Oz, 32 Oz, 40 Oz, 64 Oz, and 1 gallon and above), and sales channel (supermarkets/hypermarkets, independent stores, and ecommerce) across seven key regions (North America, Latin America, Europe, Commonwealth of Independent States & Russia, Japan, Asia Pacific Excluding Japan, and Middle East & Africa).
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