Eco-Friendly Water Bottle Market to Witness Huge Growth by Key Players: Chilly's, S'well, Ocean Bottle, Corkcicle, Hydro Flask, Bottles Società Benefit S.r.l. P.IVA
The eco-friendly water bottle market is growing due to the increasing demand from consumers with high environmental awareness, who prefer using personal water bottles as a substitute for packaged drinking water bottles. Moreover, the growing restrictions on plastics are propelling the demand for eco-friendly water bottles. In recent years, consumers have shifted to eco-friendly water bottles to replace plastic, which is a non-biodegradable material. According to the Australian government, the Department of Agriculture, Water, and Environment, Australians used 3.5 million tons of plastics from 2018 to 2019 (60% was imported). The country is missing out on an estimated US$ 419 million of economic value each year by not recovering all PET and HDPE; 84% of plastic is sent to landfills and 13% is recycled. ~130,000 tons of plastic leak into the marine environment each year in Australia, and 1 million tons of its annual plastic consumption is single-use plastic. To overcome these issues, the Australian government has introduced National Plastic Plan 2021 that includes regulation on single unprocessed polymer or resin waste plastic exports to phase out non-compostable plastic packaging products containing additive fragmental technology, which do not meet relevant compostable standards; expanded polystyrene (EPS) in loose-fill and molded consumer packaging as well as food and beverage containers; and PVC packaging labels. Similar patterns can be observed in Europe, where European Union has established a new law under which the member states need to achieve 77% collection target for plastic bottles by 2025 and 90% by 2029. The law proposes to mandate the inclusion of at least 30% recycled content in plastic bottles by 2030. The initiative is expected to result in increased price of bottled water, resulting in higher adoption of reusable bottles for economic reasons.
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Impact of COVID-19 Pandemic on Eco-Friendly Water Bottle Market Growth
The COVID-19 pandemic has negatively impacted the eco-friendly water bottle market growth owing to the shutdown of manufacturing units, rising prices of raw materials, shortage of laborers, disruption of supply chains, and instability at a financial front. The disruption of the fast-moving consumer goods industry due to economic slowdown during the global crisis has restrained the growth of the market. However, businesses are gaining ground as previously imposed limitations are being eased across various countries. Moreover, rapid-paced vaccination drives in different countries have eased out the situation, leading to the rise in business activities across the world.
Eco-Friendly Water Bottle Market Company Profiles Analysis:
• Ocean Bottle
• Hydro Flask
• Bottles Società Benefit S.r.l. P.IVA
• Frank Green
• Klean Kanteen
• Kinto Co., Ltd.
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Eco-Friendly Water Bottle Market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Eco-Friendly Water Bottle Market segments and regions.
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The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2022-2028? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Eco-Friendly Water Bottle Market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Eco-Friendly Water Bottle Market?
4. What are the prominent market trends influencing the development of the Eco-Friendly Water Bottle Market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Eco-Friendly Water Bottle Market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?
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Eco-Friendly Water Bottle Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
Table of content:
2 Key Takeaways
3 Eco-Friendly Water Bottle Market Landscape
4 Eco-Friendly Water Bottle Market - Key Industry Dynamics
5 Eco-Friendly Water Bottle Market Analysis- Global
6 Eco-Friendly Water Bottle Market Revenue and Forecasts to 2028 - Component
7 Eco-Friendly Water Bottle Market Revenue and Forecasts to 2028 -Services Model
8 Eco-Friendly Water Bottle Market Revenue and Forecasts to 2028 - Deployment Model
9 Eco-Friendly Water Bottle Market Revenue and Forecasts to 2028 - Vertical
10 Eco-Friendly Water Bottle Market Revenue and Forecasts to 2028 - Geographical Analysis
11 Industry Landscape
12 Competitive Landscapes
13 Eco-Friendly Water Bottle Market, Key Company Profiles
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