BANGALORE, India, Nov. 24, 2021 /PRNewswire/ -- The Reusable Water Bottle Market is Segmented by Type (Plastic Bottle, Metal Bottle, Glass Bottle, Silicone Bottle, Polymer Bottle), End User (Hypermarkets and Supermarkets, Retail Stores, Convenience Store, Store, Brand Chain Store, Online Trading Platform, Online Store, Other), Large enterprises). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Food & Drink Category
The global Reusable Water Bottles market size is projected to reach USD 458.2 Million by 2027, from USD 312.2 Million in 2020, at a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period 2021-2027.
Major Factors Driving The Growth Of The Reusable Water Bottles Market Are:
Over the last several years, an increase in demand for reusable water bottles for sports and travel has accelerated the expansion of the reusable water bottle market all over the world. The reusable water bottles market is expected to develop even faster as internet buying becomes more popular.
The reusable water bottles market growth has also been aided by the fact that reusable water bottles are cost-effective. The global reusable water bottle market is expected to grow at a faster rate during the forecast period as consumer tastes, lifestyles, and standard of living improve as personal disposable income rises, especially in developing nations.
The growing problem of plastic pollution, along with the harmful environmental effects of single-use and non-disposable water bottles, is driving demand for reusable bottles.
Trends Influencing The Growth Of Reusable Water Bottle Market :
Increasing awareness about the environmental pollution caused by disposable water bottles is expected to drive the growth 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 demand for reusable water bottles. Due to their growing inclination towards keeping a healthy lifestyle, many individuals over the world are heavily employing these reusable water bottles at offices, schools, colleges, and residences. Reusable water bottles help to prevent landfills, which are one of the leading causes of land/soil and groundwater pollution.
Reusable water bottles are widely used in the workplace, gyms, and restaurants, and anywhere else where people need to transport water. Consumers have become more interested in reusable bottles for environmental and health reasons. Furthermore, the reusable water bottles industry is expected to be fueled by the desire for a healthy lifestyle and rising disposable incomes over the forecast period.
Based on region, Asia Pacific is expected to be the most lucrative segment. This can be ascribed to India's and China's vast populations, the adoption of reusable water bottles, and inexpensive production costs. Due to the growth of the economies and an increase in disposable income, the share is likely to stay large in the coming years.
Based on application, the online market segment is expected to be the most lucrative segment. The growing use of multiple e-commerce platforms and smart devices, as well as quick payment choices and discounts, are all contributing to the segment's rise. Furthermore, the ability to have personalized printing on reusable water bottles, as well as the ability to compare different items via online platforms, is accelerating the growth of this market.
Based on type, plastic material is expected to be the most lucrative. The enormous proportion of this market is due to manufacturers' low production costs. The long lifespan of plastic reusable water bottles has encouraged more individuals to use them, contributing to the segment's increasing growth rate.
Based on key players, In France, High-melting Metals key players include Thermos, Pacific Market International (PMI), Tupperware, SIGG, Klean Kanteen, H.C. Starck, etc. France's top five manufacturers hold a share of about 15%. In terms of product, Plastic Bottles is the largest segment, with a share of about 45%.
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