Reusable Water Bottles Market, Know the Latest Innovations and Trends to 2031
Transparency Market Research delivers key insights for the reusable water bottles market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2021–2031. The reusable water bottles market saw soaring growth in 2021 with worldwide revenues up 3.4% year over year, owing to several factors, about which TMR offers detailed insights and forecasts in the reusable water bottles market report.
Reusable water bottles are containers or packaging products that are used to package water. The reusable water bottles can be used for a longer time period, as it is composed of various materials. The demand for reusable water bottles is increasing due to the rising demand for packaged beverage items. The reusable water bottles market will drive the growth due to attractive packaging styles offered by manufacturers coupled with the expansion of the food & beverage industry. The TMR team segmented the analysis of the reusable water bottles market based on material type, distribution network, primary usage, and region. As per TMR analysis, by material type, the polymer segment is estimated to account for substantial share of the global reusable water bottles market and drive the overall reusable water bottles market during the forecast period.
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Growing Awareness Regarding Harmful Environmental Effects of Single-use Plastic Bottles to Promote Use of Reusable Water Bottles
Prominent polymer materials used in the production of reusable water bottles are polycarbonate and HDPE. However, metallic materials such as steel and aluminum are highly energy efficient. The production process of secondary aluminum takes 95% less energy than primary aluminum production. These bottles are used mainly in three segments, i.e. everyday, travel, and sports. The bottles are distributed via different channels, which include hyper/supermarkets, online sales, independent stores, and others. These bottles are widely sold through the hyper/supermarkets distribution channel, due to changing consumer preferences toward convenient shopping stores. Reusable water bottles are the best alternatives to single-use water bottles. Reusable water bottles have high durability and strength, which make them the apt choice for consumers.
Latest technological innovations such as embedded mist sprayers and infusers are driving the growth of the reusable water bottles market. Reusable water bottles are made from four types of materials - glass, metal, polymer, and silicone. Metal- and polymer-based water bottles are widely used.
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Preference of Convenience Products to Boost Demand for Reusable Water Bottles
The market for reusable water bottles has grown significantly in the recent years, owing to the rising demand for reusable water bottles in sports and during travelling, and the cost-effective feature of reusable water bottles. Plastic pollution is a big concern to the planet, and the serious environmental problems associated with single-use and non-disposable water bottles are driving the demand for reusable water bottles. Due to their growing inclination towards keeping a healthy lifestyle, many individuals globally are using these reusable water bottles for offices, schools, colleges, and residences. Reusable water bottles help to reduce landfills, which are a major source of land, soil, and groundwater contamination. The increased online shopping penetration is also predicted to drive the market in the upcoming years. Although e-retail penetration has been growing at a rapid pace across the world, brick and mortar stores are going to witness maximum preference even during the forecast period. Convenience stores, along with supermarkets and hypermarkets, are expected to be key distribution networks for reusable water bottles worldwide.
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Reusable Water Bottles Market: Competition Landscape
The global reusable water bottles market is projected to witness strong competition among key players. This market includes few well-established market participants. Along with this, several other local and small-scale manufacturers are also entering the reusable water bottles market attributing to significant revenue creation with rising demand for reusable water bottles. Some of the key players operating in the global reusable water bottles market are Amcor Plc., Sonoco Products Company, Arizona Nutritional Supplements, LLC., ALPHA PACKAGING, Unit Pack Co., Inc., Sonic Packaging Industries, Constantia Flexible Group GmbH, Alpla Inc., Flex-Pack, ELIS Packaging Solutions, Inc.
The tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure, Tupperware Brands Corporation, S’Well Corporation, Thermos L.L.C., BRITA GmbH, Nalge Nunc International Corporation., and Camelbak Products, LLC. are tier 1 players in the reusable water bottles market. These leading companies are adopting key strategies such as business expansion, acquisition and products launch to strengthen their position in the reusable water bottles market. Moreover, tier 2 players Klean Kanteen, Inc., Ignite USA, LLC (Contigo), SIGG Switzerland AG., etc.
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