USD 8.1 billion
Report ID:
SQSG15G2011 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
158
|Figures:
78
Global Reusable Water Bottle Market size was valued at USD 8.1 billion in 2022 and is poised to grow from USD 8.5 billion in 2023 to USD 12.08 billion by 2031, growing at a CAGR of 4.5% during the forecast period (2024-2031).
Reusable water bottles have gained popularity as an alternative to single-use plastic bottles. BPA, Bisphenol A, is a chemical compound found in plastic bottles that can cause cancer. Manufacturers are labelling these materials as BPA-free. Furthermore, due to the health benefits of stainless steel and glass water bottles, consumer preference is shifting. The growing threat of plastic pollution, combined with the negative environmental effects of using single-use and non-disposable plastic water bottles, is driving regional demand for reusable water bottles. Because glass water bottles do not degrade after extensive use, they are free of germs and contamination even after several washes. As consumers' preferences shift toward a healthier lifestyle, reusable water bottles are becoming more popular in workplaces, colleges, schools, and homes. Furthermore, reusable water bottles help to reduce landfills, which are a major source of both underground and groundwater pollution.
US Reusable Water Bottle Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 8.1 billion
Largest Segment
Plastic
Fastest Growth
Glass
Growth Rate
4.5% CAGR
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Global Reusable Water Bottle Market is segmented by Material Type, by Distribution Channel, by Primary Usage, and by Region. Based on Material Type, the market is segmented into Glass, Metal, Polymer, Silicone, Plastic, Stainless Steel, Others. Based on Distribution Channel, the market is segmented into Hyper/Supermarkets, Specialty Stores, Convenience Stores, Online Sales, Others. Based on Primary Usage, the market is segmented into Everyday, Sports, Travel, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Reusable Water Bottle Market Analysis by Material:
In terms of revenue, the plastic material type segment dominated the market in 2021, accounting for more than 35.5% of the total. This is attributed to producers' low manufacturing costs. The increased life expectancy of plastic reusable water bottles has increased consumer interest in reusable water bottle consumption, which is supporting the segment's growth. According to the blogs published by Mathematics for Sustainability, buying a reusable bottle for USD 20 can save up to USD 6,180 when compared to buying disposable plastic bottles after five years, which is considered the bare minimum life expectancy of plastic-based reusable water bottles.
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Based on region global reusable water bottle market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. Over the forecast period, the Asia Pacific reusable water bottle market is expected to account for a significant revenue share. The major contributors in this region are China, India, and Japan. Factors such as rising public awareness of rising environmental concerns as a result of long-term use of single-use plastic bottles, a rapidly expanding population, and rising adoption of zero plastic and sustainable reusable water bottles are driving market growth. Furthermore, rapid urbanization, rising per capita income, increased awareness of the importance of staying hydrated, and increased efforts by public and private organizations to reduce single-use plastic while conserving marine life and promoting reusable water bottles are driving market growth in Asia Pacific.
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Reusable Water Bottle Market Drivers
Reusable Water Bottle Market Restraint
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The global reusable water bottle market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective.
Top Players in the Global Reusable Water Bottle Market
Reusable Water Bottle Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global reusable water bottle market analysis, plastic bottle use over the last 50-60 years has resulted in long-term ecological problems in the form of plastic waste collected in rivers, oceans, and streams, as well as toxins leaking into water bodies. As a result, many conscientious consumers have looked for ways to reduce plastic consumption for both environmental and health reasons, as well as growing demand for environmentally friendly products. To reduce their use of plastic, consumers are abandoning single-use plastic bottles in favour of reusable water bottles. Aside from that, the low cost of reusable water bottles has contributed to market growth.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 8.1 billion |
Market size value in 2031 | USD 12.08 billion |
Growth Rate | 4.5% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Reusable Water Bottle Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Reusable Water Bottle Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Reusable Water Bottle Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Reusable Water Bottle Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQSG15G2011
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