The global reusable water bottle market size is anticipated to reach USD 10.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.9% over the forecast period. The growth of the market is attributed to increase in demand for convenience products due to improving living standards and change in lifestyle, along with shift in consumer preferences towards using reusable water bottle.
According to Forbes Media LLC, every minute humans buy a million plastic bottles and the fact that 91% of all plastic is not recycled is becoming a threat to the environment. However, shift in consumer demand towards the environmental friendly products and easy to carry bottles is a major factor fueling the market growth.
In 2018, Asia Pacific held the largest share of more than 30.0% due to presence of developing countries like India and China. Improved living standards and increase in disposable income have spurred the demand for reusable water bottle. Rise in purchasing power and growing health consciousness across the globe are accelerating the market growth.
A fusion of the fashion and wellness industries is resulting in an increase in the demand for reusable water bottle amongst the modern customers. For instance, S’well and Swarovski together launched a bottle with over 6,000 crystals and a premium price. Reusable water bottle with attractive and stylish designs as well as additional features is becoming a popular trend in the market.
In 2018, the plastic material type held the largest market share in 2018. However, the silicone material type is projected to expand at the fastest CAGR of 4.3% from 2019 to 2025. The benefits associated with silicon reusable water bottle such as heat resistant and chemically non-reactive make it beneficial for health and environment.
Supermarket and hypermarket accounted for the largest share of 38.4% in 2018. The online segment is estimated to expand at the highest CAGR of 4.2% from 2019 to 2025. Rising penetration of e-commerce and low cost of online startups are the major factors spurring the growth of the segment.
Leading players of the market include Tupperware Brands Corporation; SIGG Switzerland AG, GmbH; CAMELBAK PRODUCTS LLC; Nalge Nunc International Corp.; and Klean Kanteen Inc. The companies focus on strategic initiatives like collaborations, new product development, and attractive designs to gain a competitive advantage over others.
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Further key findings from the report suggest:
The global reusable water bottle market is expected to expand at a CAGR of 3.9% from 2019 to 2025
By material type, the silicone segment is expected to expand at the highest CAGR of 4.3% over the forecast period
Supermarket and hypermarket distribution channel accounted for the largest share of 38.4% in 2018
The online segment is anticipated to register a CAGR of 4.2% over the forecast period due to rising penetration of e-commerce and low cost of startups
Asia Pacific held the largest share of more than 30.0% in 2018.
Grand View Research has segmented the global reusable water bottle market on the basis of material type, distribution channel, and region:
Reusable Water Bottle Material Type Outlook (Revenue, USD Billion, 2015 - 2025)
Reusable Water Bottle Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
Supermarket & Hypermarket