Reusable Water Bottles Market - Growth, Trends, Absolute Opportunity and Value Chain 2017-2025
According to TMR, the global reusable water bottle market is anticipated to expand at a slow 3.6% CAGR from 2017 to 2025. This market is anticipated to be worth US$10.4 bn by 2025. On the basis of geography, it is anticipated that is Asia Pacific will contribute the highest to this market. The Asia Pacific reusable water bottles market is anticipated to reach US$1,208.5 mn by 2025. On the basis of material, it is estimated that the metal segment will lead in the market accounting for 33% of the total share. By distribution channel, it is the hyper market/super market segment which will lead and account for 35% of the total market share.
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According to the report, the global reusable water bottles market is anticipated to witness growth in the years to come on account of the changing consumer preference for reusable water bottles over single use water bottles. As manufacturers are consistently striving to improve the quality quotient of the reusable bottles, consumers are expected to increasingly prefer these water bottles. Increasing demand for convenience products and growing disposable income of consumers will also help the market to grow. An overall improvement in the economy and the rise in the spending power of the middle class population will lead to an increase in the sales of high quality, superior, and convenient consumer goods. Manufacturers are thus, encouraged to develop products with additional features such as mist sprayers, embedded infusers, and others.
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The market is benefiting from the growing consciousness and awareness among consumers regarding the ill effects of the use of plastic. With an increasing number of studies suggesting that the use of plastic for storing liquid for long duration can be lethal in the long term, will also fuel the growth prospects of the reusable water bottles market. Another factor supporting the growth of reusable water bottles market is the increasing concern about environmental conservation and the rising number of steps taken by government to reduce the use of plastic and decrease plastic waste. This in turn is creating a heightened demand for reusable bottles that make use of metals and polymer.