USD 8.54 billion
Report ID: SQSG15G2011 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 158 | Figures: 78
Reusable Water Bottle Market size was valued at USD 8.54 billion in 2021 and is poised to grow from USD 8.92 billion in 2022 to USD 12.72 billion by 2030, growing at a CAGR of 4.4% in the forecast period (2023-2030).
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 8.54 billion
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Reusable Water Bottle Market is segmented based on product type, material, primary usage, size, distribution channel. Based on product type Reusable Water Bottle Market is segmented as plain reusable water bottles, insulated reusable water bottles, filtered reusable water bottles, collapsible reusable water bottles, reusable water infusers, reusable water growlers, others. Based on material Reusable Water Bottle Market is segmented as glass, stainless steel, plastic, silicon, others. Based on primary usage Reusable Water Bottle Market is segmented as everyday reusable water bottles, sports reusable water bottles, travel reusable water bottles, other utilities. Based on distribution channel Reusable Water Bottle Market is segmented as direct sales, supermarkets/hypermarkets, specialty stores, independent stores, online retailers, other sales channels. Based on size Reusable Water Bottle Market is segmented as 8-12 oz. reusable water bottles, 16-27 oz. reusable water bottles, 32 oz. reusable water bottles, 40 oz. reusable water bottles, 64 oz. reusable water bottles, 1 Gallon and Above reusable water bottles. Based on region Reusable Water Bottle Market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East 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
MOO Inc., a digital print and design company, launched the MOO Water Bottle in September 2021 to help them extend the brand into the premium category. The company distributes its water bottle line throughout the United States, which comes in a variety of distinct colors and offers a plethora of branding options.
CamelBak packaging manufacturing company developed a new product MultiBev, which is considered a 2-in-1 vessel, in July 2020. This set includes a water bottle as well as a travel cup with a silicone lid. This type of water bottle is gaining popularity among consumers because it improves the user experience in terms of convenience and versatility for everyday use.
Hydaway released a new version of its collapsible bottle that fits in the pocket in February 2021. It comes in two sizes: 25 ounces and 17 ounces, and it has a standard cap lid as well as a handy spout lid. The bottle is made of silicone and BPA-free plastic.
Nalgene Sustain, a new line of reusable water bottles, is introduced in August 2020. The water bottles are 50% recycled and 50% waste plastic.
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.
|Market size value in 2021||USD 8.54 billion|
|Market size value in 2030||USD 8.92 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Global 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 Global 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.
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Product ID: SQSG15G2011