Smart Bottle Market to Expand at CAGR of 14.3% During Forecast Period - TMR Insights

The global smart bottles market is likely to witness high growth in the coming years due to significant efforts made by several prominent players in the market. Leading players are focusing on using advanced technologies to enhance product quality and connectivity. Moreover, as there are large number of players operating in the global smart bottle market, competition is likely to increase. This will also turn the global market fragmented. They are also engaged in mergers and acquisition, partnership, and collaboration to reinforce their position in the global market. Noticeable players such as Spiritz, Thermos LLC, Myhydrate, and Adheretech Inc. collectively held 5% share in the market in 2016. Various other players operating in the market include Trago Inc, Kuvee, Inc., Sippo, Hidrate Inc., Hydrasmart, and Ecomo Inc.

Request Sample- https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=11216

Researchers from Transparency Market Research estimated that the global smart bottle market would reach US$258.8 mn by the end of forecast period in 2024. In 2016, the market earned US$88.8 mn. To achieve this figure, the market is likely to progress at healthy 14.3% CAGR between 2016 and 2024.

Application of smart bottle is largely seen in water bottle segment and it is expected to lead the global smart bottle market in the near future. In 2016, this segment held 56.4% share in the global market. The pharmaceutical bottles segment is projected to take the second position in the market. Regionally, North America is leading the global smart bottles market due to technological advancements taking in the region. On the other hand, Asia Pacific region is expected to be the most promising region for expanding smart bottles market, as several smart bottles manufacturers are investing in this region. Significant rise in e-commerce and growing acceptance for smart technologies and devices in Asia Pacific helped in drawing attention of global smart bottle manufacturers.

Enquiry Before Buying- https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=11216

Growing Demand to Maintain Physical Fitness to Bolster Growth in the Global Smart Bottle Market

Growing awareness about maintain health and fitness and the role played by water in maintain health has boosted growth in the global smart bottle market. People nowadays are more conscious about the wellbeing and physical fitness and are now playing more emphasis on regular workouts and activities. Additionally, growing demand for advanced technologies in devices and even in bottles that helps user know about the amount of water intake has further expanded growth in the global smart bottle market.

Moreover, advancements taking place in the fields of materials and chemicals resulted in the development of Bisphenol A (BPA)-free polymer- Tritan, that is used for manufacturing the bottles is also projected benefit in the fueling growth in this market. Rising disposable income and high demand for fitness equipment has also fueled growth in the global smart bottle market.

Request Brochure- https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=11216

Limited Opportunities for Customization to Deter Green Packaging Market

Contrary, to the above-mentioned growth factors, few restraints might restrict the growth of the global smart bottle market. High cost of smart bottle is the major factor that might challenge the market's growth. Moreover, limited opportunities for customization are also expected to deter demand in the global smart bottle market.

Get COVID-19 Analysis- https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=11216

However, technological advancements taking place and growing acceptance towards advanced technologies might help in overcoming these restraints. Moreover, rapid economic development in both developed and developing economies is also expected to help grow smart bottles market in the coming years.

The study presented here is based on a report by Transparency Market Research (TMR) titled "Smart Bottle Market (Application - Water bottle, Pharmaceutical Bottle, and Alcoholic Beverage Bottle; Distribution - Online and Offline) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024".

More Trending Reports by Transparency Market Research:
https://www.prnewswire.com/news-releases/large-scale-programs-to-prevent-massive-environmental-degradation-related-to-single-use-plastics-to-bring-extensive-growth-opportunities-for-reusable-water-bottles-market-valuation-projected-to-touch-us-11-bn-by-2027-says-tmr-301288640.html

Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/

About Us
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

This release was published on openPR.