The Global Reusable Water Bottle Market size is expected to reach $82 billion by 2026, rising at a market growth of 8. 2% CAGR during the forecast period. Reusable water bottles are bottles that can be reused many times by people.
New York, April 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Reusable Water Bottle Market By Material Type, By Distribution Channel, By Regional Outlook, Industry Analysis Report and Forecast, 2020 - 2026" - https://www.reportlinker.com/p06064817/?utm_source=GNW
These bottles are broadly used to carry fluids like water, tea, health drinks, cold drinks, and others from one place to another in a handy way. There is a broad range of reusable water bottles that are easily accessible in the market in various size, material type, color, design, and shape. Several determinants like low prices, easy accessibility, and convenience offered by these reusable water bottles have surged the market demand for reusable water bottles across the world.
In the last few years, the growth for reusable water bottle market is increasing at a significant pace around the world due to the rising demand for reusable water bottles in the sports & travel industry. Moreover, the cost-efficient feature of reusable water bottles has propelled the growth of the market. Along with that, some of the catalysts for market growth are shifting consumer preferences, lifestyle, and improvements in the living standard owing to the increasing disposable income specifically in the emerging nations. Increasing penetration of online mode of shopping is also expected to spur market growth in the future years.
The plastic pollution poses a major threat to the world and the serious environmental issues arising from single-use & non-disposable water bottles are pushing the demand for the reusable water bottles. There are many people around the world who are highly using these reusable water bottles at workplaces, schools, colleges, and homes due to their shifting preference towards maintaining a healthy lifestyle. The reusable water bottles reduce the landfills that are among the major reason for land/soil and groundwater pollution. In addition, increasing awareness among people related to the severe environmental impact of non-disposable & single-use plastic bottles, along with the swift rise in plastic waste in oceans & landfills, is stimulating the usage of reusable water bottles.
Material Type Outlook
Based on Material Type, the market is segmented into Plastic, Stainless Steel, Silicone, Glass and Other Material Types. Based on material type, plastic material acquired the highest share in the market in 2019. Low cost of production by manufacturers is responsible for the massive share of this segment. The big lifespan of plastic reusable water bottles has motivated more people to adopt plastic water bottles that contributed to the rising growth rate of this segment.
Distribution Channel Outlook
Based on Distribution Channel, the market is segmented into Hypermarkets & Supermarkets, Convenience Stores, Online and Specialty Stores. The online market segment is anticipated to rise at a higher growth rate during the forecast period. The increasing penetration of several e-commerce platforms & smart gadgets, easy payment options, and discounts are among the major aspects fuelling the growth of the segment. In addition, the option of customized prints on the reusable water bottles along with the option to compare various products through online platforms is propelling the growth of this segment.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific market dominated the Global Reusable Water Bottle Market by Region in 2019, growing at a CAGR of 9 % during the forecast period. The Europe market is expected to witness a CAGR of 7.9% during (2020 - 2026).
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., A. O. Smith Corporation, Newell Brands, Inc., Vista Outdoor, Inc. (CamelBak Products LLC), Groupe SEB, Tupperware Brands Company, SIGG Switzerland Bottles AG (Zhejiang Haers Vacuum Containers Co., Ltd.), Klean Kanteen, Hydaway LLC, and Bulletin Bottle.
Strategies deployed in Reusable Water Bottle Market
Jul-2020: CamelBak introduced the MultiBev, a 2-in-1 vessel. The vessel contains a water bottle and a travel cup with a silicone lid, which is convenient and versatile for everyday use.
Jan-2020: Contigo, a subsidiary of Newell Brands came into partnership with Coachella for becoming the festival’s official reusable bottle partner in 2020. The partnership brought together two brands in an effort for reducing single-use PET plastic and encouraging reusability throughout the festival and beyond.
Nov-2019: CamelBak released the Pivot Bottle, a bottle made up of 10% renewable plant-based material called ECHO. The new Pivot Bottle is part of an expansion of the commuter-focused Pivot collection that was launched in early 2019.
Feb-2018: Klean Kanteen launched Klean Coat, a chip-resistant, four-times more durable powder coat finish, across its complete product line. Klean Coat can be used lifetime.
Scope of the Study
Market Segments covered in the Report:
By Material Type
• Stainless Steel
• Other Material Types
By Distribution Channel
• Hypermarkets & Supermarkets
• Convenience Stores
• Specialty Stores
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Thermo Fisher Scientific, Inc.
• A. O. Smith Corporation
• Newell Brands, Inc.
• Vista Outdoor, Inc. (CamelBak Products LLC)
• Groupe SEB
• Tupperware Brands Company
• SIGG Switzerland Bottles AG (Zhejiang Haers Vacuum Containers Co., Ltd.)
• Klean Kanteen
• Hydaway LLC
• Bulletin Bottle
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