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Eco-Friendly Water Bottle Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material, Distribution Channel
The eco-friendly water bottle market is projected to reach US$ 11. 06 billion by 2028 from US$ 8. 19 billion in 2021; it is expected to grow at a CAGR of 4. 4% during 2021–2028. The growth of the eco-friendly water bottle market is driven by growing regulations to curb the use of single-use plastic water bottles.
New York, June 10, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Eco-Friendly Water Bottle Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material, Distribution Channel" - https://www.reportlinker.com/p06279434/?utm_source=GNW
These bottles are one of the major causes of plastic pollution caused by packaging waste in the environment.
According to the European Commission, single-use plastic items discovered on European beaches, coupled with fishing gear, account for 70% of marine trash.In 2019, European Union imposed restrictions on single-use plastic products to decrease the impact of plastic products on the environment, particularly the marine environment and human health.
Similarly, in North America, Mexico developed a program to establish an environmental policy for waste in 2008 through the SEMARNAT, encouraging waste prevention and holistic management. The growing government support to discontinue the consumption of single-use plastics, along with increasing awareness among the population, are expected to drive the eco-friendly water bottle market in the coming years.
Based on material, the global eco-friendly water bottle market is segmented into paper, metal, glass, and others.In 2020, the metal segment accounted for the largest market share and is expected to account for the highest growth rate over forecast period.
Metal bottles are the most durable type of eco-friendly bottles.Consumers opt for these bottles as they are reusable.
Metal water bottles are also equipped with water filters and insulation as advanced features.
Based on distribution channel, the eco-friendly water bottle market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others.In 2020, the supermarkets and hypermarkets segment accounted for the largest revenue share and online retail is expected to account for the highest growth rate over the forecast period.
Supermarkets and hypermarkets are easily accessible and widespread in terms of locations in all regions. Supermarkets and hypermarkets also adopt attractive merchandising techniques that appeal to consumers, thus generating higher sales for eco-friendly water bottles and accounting for the largest share in the market.
By region, the eco-friendly water bottle market is segmented into North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.In 2020, Asia-Pacific held the largest share of the market and is estimated to register the highest CAGR in the market during the forecast period.
Asia Pacific region is expected to account for the fastest growth rate over the forecast period in eco-friendly water bottle market.The Asia Pacific eco-friendly water bottle market is further segmented into China, India, Japan, South Korea, and Australia.
An increase in the middle-class population and the rising consumer awareness about eco-friendly products drive the demand for eco-friendly water bottles in this region.
Chilly’s; S’well; Ocean Bottle; Corkcicle; Hydro Flask; Bottles Società Benefit S.r.l. P.IVA; Frank Green; Qwetch; Klean Kanteen; and Kinto Co., Ltd. are among the players operating in the eco-friendly water bottle market. These companies provide a wide range of products and have presence in the developing regions, which provides lucrative opportunities for their growth. Many eco-friendly water bottle market players are developing high-quality and innovative products to meet customers’ requirements.
The overall eco-friendly water bottle market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants—including valuation experts, research analysts, and key opinion leaders—specializing in the eco-friendly water bottle market.
Read the full report: https://www.reportlinker.com/p06279434/?utm_source=GNW
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