According to a new market report published by Credence Research “Reusable Water Bottles Market – Growth, Future Prospects, Competitive Analysis, and Forecast 2016 – 2023,” the reusable water bottles market has been estimated to be valued at US$ 7.6 Bn by the end of 2016, and is expected to reach US$ 9.9 Bn by 2023, expanding at a CAGR of 4.0% from 2016 to 2023.
Browse the full Reusable Water Bottles Market by Sales Channel, Usage, Material Type and Geography – Growth, Future Prospects, Competitive Analysis, and Forecast 2016 – 2023 report at https://www.credenceresearch.com/report/reusable-water-bottles-market
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Market Insights
Bottles which can be reused for multiple trips to a bottler or is reutilized by households are generally known as reused water bottles. The reusable water bottles are generally utilized to drink beverages as well as to carry from one place to another. The significantly expanded worldwide market for reusable water bottles, encircling varied products in terms of shape, size, materials, features and designs. Over the past few years, it has been notified that reusable water bottles have become linked with environmental concerns. Consumers who generally carry reusable water bottles are carrying not just to have water at hand but also as an objection against significant wastage of disposable plastic water bottles. Growing health consciousness coupled with rising purchasing power of households has intensified the demand for reused water bottles all across the globe. Changing living standard of people in developing countries such as India and China is likely to fuel the market growth of reusable water bottles all over the world over the forecast period.
Urbanization and changing lifestyle along with increasing population especially in Asian countries such as China and India, deeper inclination towards smartphones and a significant and strong distribution network is projected to bolster the growth of global reusable water bottles business between 2016 and 2023. Apart from this, rising wide variety of designed and stylish water bottles will propel the demand for reusable water bottles market across the globe in the next few years.
Competitive Insights:
Reusable water bottles market is segmented on the basis of sales channel such as supermarket/hypermarket, online stores and others. Amongst this, supermarket/hypermarket segment grabbed the highest market share in the total revenue of global reusable water bottles market in 2015. The segment is anticipated to dominate during the period 2016-2023. Rising internet penetration all over the world is expected to boost the growth of online stores segment over the forecast period. The global reusable water bottles market is also segmented on the basis of usage which includes daily use, sports and travel. The sports segment is expected to observe robust growth during the forecast period. The reusable water bottles market is also bifurcated by material type such as polymer, metal, glass and silicon. Amongst all, metal segment is expected to observe significant growth and higher demand in the total worldwide reusable water bottles market till 2023.
Key Trends:
- Emerging urban middle class
- Rising trendy water bottles
- Online shopping
On the basis of sales channel, the reusable water bottles market is categorized into following types:
- Supermarket/hypermarket
- Online Store
- Others
Innovations, protection and trendy look of water bottles have intensified the growth of reusable water bottles in all over the world. The water bottles are highly vibrant and dynamic due to regular launches of reusable water bottles with wide variety of designs and at an affordable price. The increase in demand for reusable water bottles as well as the high profit margins has led many manufacturers to launch customized water bottles. On the basis of sales channel, the global reusable water bottles market is classified into supermarket/hypermarket, online store and others. In 2015, supermarket/hypermarket grabbed the highest revenue share in the global reusable water bottles market. With the rising broadband penetration and higher online shopping trends prevailing in various countries, the online store segment is expected to contribute significantly during the forecast period. This would decline the popularity of brick and mortar stores in the years to come. Wide variety of products at a discounted price is likely to fuel the growth of online store segment especially in Asia, Latin America and Middle East region as well by 2023.
On the basis of usage, the reusable water bottles market is categorized into following types:
- Daily Use
- Sports
- Travel
The expanding retail sector especially in Asia Pacific region over the past few years has fostered the demand for stylish and different colored reusable water bottles in the region. The reusable water bottles market has been segmented on the basis of usage which includes daily use, sports and travel. The reusable water bottles for daily usage have captured the maximum share in the revenue of reusable water bottles market in 2015. Rising health consciousness and number of gym goers all over the world is anticipated to popularize the demand for reusable water bottles for sports purpose in future. Thus, sports segment is anticipated to expand at a robust CAGR during the period 2016-2023. Besides this, rising trend of inclined usage of BPA free materials as well as increasing adoption of smart water bottles especially in North America and Europe region is anticipated to have an intense impact on overall development of reusable water bottles market till 2023.
On the basis of material type, the reusable water bottles market is categorized into following types:
- Polymer
- Metal
- Glass
- Silicon
The global reusable water bottles market is exemplified by availability and presence of strong competition among the existing companies (both international and local players). In the reusable water bottles segment, the conglomerates are competing on the basis of differentiation in the price, product, and quality in order to gain the competitive edge in the market. The companies are investing in developing and planning of new products. The strong investment in research and development would be essential by the companies in order to survive in the competitive scenario of global reusable water bottle market. The global reusable water bottles market is also segmented on the basis of material type of such as polymer, metal, glass and silicon. Amongst this, polymer contributed more than 50% in the total reusable water bottles market in 2016. Followed by it, metal and glass segment captured second and third position in the overall revenue of reusable water bottles market in the same year…
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