What Are The Factors Driving The Reusable Water Bottle Market By 2030?

 Reusable Water Bottle Industry Overview

The global reusable water bottle market size was valued at USD 8.64 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2030. The growing awareness regarding the environmental hazard has motivated people to take on the responsibility of reducing their contribution to the plastic problem. As a result, a large number of consumers across the globe have been replacing single-use plastic bottles with reusable water bottles. Moreover, the COVID-19 home isolation guidelines have, nevertheless, spurred the demand for various kitchen products, including reusable bottles. According to a blog post by Klarna, millennials and Generation X used a large portion of their income on home and garden products during the lockdown.

These items included drinkware, kitchenware, as well as other household products. Consumers across the globe are increasingly opting for reusable water bottles at workplaces, colleges, schools, and homes. These reusable bottles reduce the plastic burden on landfills, the main cause of groundwater pollution. Moreover, growing awareness regarding the harmful environmental effects of non-disposable and single-use plastic bottles, as well as a significant increase in plastic waste in oceans and landfills, is promoting the use of reusable water bottles. Moreover, governments of various countries are taking initiatives to ban single-use plastic bottles and instead promote reusable ones made of glass, metals, and other eco-friendly materials that are safe to use.

Gather more insights about the market drivers, restrains and growth of the Global Reusable Water Bottle market

 

For instance, Australia, Canada, the U.S., and some states of India have banned single-use plastic water bottles, thereby opening up new growth avenues for reusable bottles. In addition, the high inclination of people towards outdoor activities and picnics in open spaces, neighborhood parks, and public trails also indicates strong growth prospects for reusable bottles of all kinds. For instance, according to the 2021 Maru Voice Canada survey, around 52% of Canadians are more likely to increase their frequency of participation in outdoor recreational activities.

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• Plastic Market - The global plastic market size was valued at USD 579.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.4% from 2021 to 2028. Increasing plastic consumption in the construction, automotive, and electrical & electronics industries is projected to support market growth over the forecast period.

 

• Asia Pacific Recycled Plastic Market - The Asia Pacific recycled plastic market size was estimated at USD 1.7 billion in 2018 and is expected to exhibit a CAGR of 6.4% over the forecast period. Rising environmental concerns and increasing use of recycled plastics in various applications are expected to significantly fuel market growth.

Reusable Water Bottle Market Segmentation

Grand View Research has segmented the global reusable water bottle market based on component, security type, solution, services, deployment, organization size, application, and region:

 

• Material Type Outlook (Revenue, USD Million, 2017 - 2030)
  • Glass
  • Stainless Steel
  • Plastic
  • Silicon
  • Others

 

• Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
  • Specialty Stores
  • Convenience Stores
  • Supermarkets & Hypermarkets
  • Online

 

• Regional Outlook (Revenue, USD Million, 2017 - 2030)
  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa
    
    

Market Share Insights

• February 2021: Hydaway launched a new version of its collapsible bottle that fits in the pocket. It is available in two sizes of 25 ounces and 17 ounces and features a standard cap lid and a useful spout lid. The bottle is made from BPA-free plastic and silicone.
• August 2020: Nalgene launched a new line of reusable water bottles under the brand name Nalgene Sustain. The water bottles are made of 50% recycled content and waste plastic.

 

Key Companies profiled:

Some prominent players in the global reusable water bottle market include

• Tupperware Brands Corp.
• SIGG Switzerland AG, GmbH
• CamelBak Products, LLC
• Klean Kanteen
• Contigo
• Aquasana Inc.
• Hydaway
• Nalgene
• S’well

 

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