Press release
Reusable Water Bottle Market is Expected to Reach USD 11.5 billion in 2029, Growing at a CAGR of 3.8% during 2022-2029 | Size, Share, Report Forecast
Reusable Water Bottle Market
Reusable Water Bottle Market Reached USD 8.5 billion in 2021 and Expected to Reached USD 11.5 billion in 2029, and the market is anticipated to grow at a CAGR of 3.8%.
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/reusable-water-bottle-market-analysis-industry-research/
The factors driving the growth of Reusable Water Bottle Market includes emerging need to reduce the burden of plastics on the landfills, rising awareness amongst consumers about the harmful effect of non-reusable water bottles and increasing consumers inclination towards adopting healthy lifestyles. According to the report published by Organization for Economic Co-operation and Development (OECD), around 9% of the plastic is recycled successfully, while 22% is mismanaged, growing focus on reducing the use of plastics is expected to accelerate the Reusable Water Bottle Market share in the approaching years. Moreover, Government regulations to ban single-use plastics, rising popularity of reusable glass water bottles with silicone sleeves and increasing demand for environment friendly sports bottle by athletes, are some of the additional factors supplementing the Reusable Water Bottle Market Growth. In addition, the increasing investments by leading players on research and development, rise in the launch of innovative products, growing adoption of advanced technologies by manufactures and rapid urbanization, are further contributing to the market growth.
However, the growth of Reusable Water Bottle Market is hindered because many reusable plastics contain hormone which disrupts chemicals such as Phthalates and BPA.
The leading players operating in the market are Klean Kanteen, Contigo, HYDAWAY, LLC, Aquasana Inc., Tupperware, S'Well Corporation, SIGG Switzerland AG, GmbH, Brita, CAMELBAK and Thermo Fisher Scientific Inc., among others.
Based on Material, the Silicone segment is predicted to lead the market during the forecast period
Silicone materials are more ocean-friendly than plastic, can stand-up better against heat and lasts longer, are some of the features responsible for the segment's growth.
Based on Distribution Channel, the Hypermarket & Supermarket segment is projected to capture the largest market share over the forecast period
Supermarkets offer wide range of reusable water bottles, offer huge discounts to their customers, and provides free home delivery services, are propelling the growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
Rising focus by manufacturers on developing environment friendly solutions, easy availability of reusable water bottles at the e-commerce platforms, increasing disposable incomes, rapid urbanization, and high population growth rates, are some of the important factors augmenting the Reusable Water Bottle Market size in Asia-Pacific region.
Market Segmentation
Segmentation by Material Type
Glass
Metal
Plastic
Silicone
Segmentation by Distribution Channel
Specialty Store
Hypermarket & Supermarket
Convenience Store
Online
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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