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Hydration On-the-Go: The Collapsible Water Bottle Market Outlook 2024
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According to The Business Research Company's, The collapsible water bottle market size has grown strongly in recent years. It will grow from $1.72 billion in 2023 to $1.83 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to an increase in per capita disposable income, vast population, growing demands from millennials seeking sustainable options, and increasing demand for portability and convenience.
The collapsible water bottle market size is expected to see strong growth in the next few years. It will grow to $2.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.9.% The growth in the forecast period can be attributed to increasing demand for portability and convenience, high household income, influence of social media and influencer marketing, and increasing outdoor and sports activities. Major trends in the forecast period include new recent developments, product approvals, product launches, technological innovations, increasing eco-consciousness, and innovations in ultralight materials.
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Market Drivers and Trends:
The increasing number of working professionals is expected to propel the growth of the collapsible water bottle market going forward. The number of working professionals is rising due to factors such as population growth, increasing demand for skilled labor in various industries, technological advancements creating new job opportunities, and shifts towards knowledge-based economies emphasizing education and professional skills. Collapsible water bottles provide convenience and sustainability to working professionals by offering a portable and eco-friendly hydration solution that adapts to their on-the-go lifestyle. For instance, in June 2024, according to the Office for National Statistics, a UK-based national statistical institute, the employment rate in the UK from February to April 2024 stood at 74.3%. Furthermore, in May 2024, according to the Australian Bureau of Statistics, an Australia-based government agency, the employment rate increased to 14,355,100 people. Therefore, the increasing number of working professionals is driving the growth of the collapsible water bottle market.
Major companies operating in the collapsible water bottle market are developing innovative products such as tempo squeeze bottles to address the increasing demand for portable, space-saving hydration solutions. Tempo squeeze bottles are typically plastic containers designed with a flexible body that allows users to easily squeeze out the contents, such as condiments or sauces, making them convenient for food service and on-the-go use. For instance, in November 2023, HydroPak, a US-based company that manufactures collapsible bottles, launched its new collection of Tempo Squeeze Bottles at the Boston Run Show. The Tempo bottles feature an ergonomic shape that fits comfortably in the hand, making them easy to grip and squeeze. The durable, lightweight construction ensures the bottles can withstand the demands of training and racing.
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Major Key Players of the Market:
Salomon SAS, Cascade Designs Inc., Lollicup USA Inc., Zoku LLC, Nalgene, Dexas International Ltd., Liquid Bottles LLC, Stojo Products Inc., GSI Outdoors Inc., Nomader LLC, Vapur Inc., Hydrapak LLC, Hydaway LLC, Que Bottle LLC, Bubi Bottle LLC, Memobottle Inc., Dafi LLC, Tap Water Co., Ultraspire Inc, Cnoc Outdoors
Collapsible Water Bottle Market 2024 Key Insights:
• The collapsible water bottle market size is expected to see strong growth in the next few years. It will grow to $2.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Increasing Number Of Working Professionals Boosts Collapsible Water Bottle Market Growth
• Innovative Products Driving Growth In The Collapsible Water Bottle Market
• North America was the largest region in the collapsible water bottle market in 2023
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