NEW YORK, United States, July 17, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Biodegradable Water Bottles Market Comprehensive Analysis, Historical Data, and Forecasts, 2023-2030” in its research database. According to the latest research, the global biodegradable water bottles market size was worth at around USD 2437.16 million in 2022. The market is expected to grow above a CAGR of 5.52% and is anticipated to reach over USD 3549.81 million by 2030.
The report analyses the biodegradable water bottles market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global market.
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Biodegradable Water Bottles Market Overview:
Across the world, approximately one million plastic bottles are bought per minute. Over 99 percent of the plastics are produced from chemicals that are derived from coal, oil, and natural gas all of which are non-renewable resources. Only 9 of the plastic waste is been recycled, around 12% is incinerated, and the remaining 79% is accumulated in dumps, natural environment, and landfill.
All these processes are eventually affecting the environment adversely. Biodegradable water bottles aim to minimize the waste as they are made up of organic materials like sugarcane pulp, bulrush, bamboo, algae, polyhydroxyalkanoates, or polylactic acid. Thus, the use of these bottles is considered to be an effective way to reduce plastic waste.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historical and Forecast Growth, Porter's 5 Forces Analysis
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Key Insights from Primary Research
- As per the analysis, the Biodegradable Water Bottles market share is likely to grow above a CAGR of around 5.52% between 2023 and 2030.
- The Biodegradable Water Bottles market size was worth around USD 2437.16 million in 2022 and is estimated to hit approximately USD 3549.81 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- growing environmental concerns arising due to plastic bottles, rise in government initiatives to encourage people to use biodegradable water bottles are the major factors that are propelling the growth of the market.
- On the basis of region, the “Asia Pacific” Will Likely Overtake the Global Market.
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Global Biodegradable Water Bottles Market: Growth Drivers
The global biodegradable water bottles market is growing at a substantial rate. Factors such as growing environmental concerns arising due to plastic bottles, rise in government initiatives to encourage people to use biodegradable water bottles, and reduction in the use of single-use plastic are the major factors that are propelling the growth of the market. Additionally, several countries have announced a ban on the usage of plastic and thus, biodegradable water bottles can be a good alternative for plastic water bottles. The biodegradable water bottles do not have any detrimental impact on the environment as the bottle, label, and cap all are compostable.
The plant-based biodegradable water bottles reduce carbon footprint. They breakdown and can be incinerated as clean-burning fuel easily. Such types of bottles are perfect for entertainment complexes, corporate venues, sporting events, and many more. This will significantly reduce plastic bottle waste. Moreover, the rise in the production of bioplastics such as PHA, PLA, starch blends, and many more is also spurring the growth of the global market.
Furthermore, an increase in R&D activities by the key players to manufacture biodegradable water bottles that are easily compostable and help reduce plastic waste may offer huge opportunities for the growth of the global biodegradable water bottles market during the forecast period. However, in some countries the preferences of the consumers towards use of plastic bottles may hamper the growth of the global market.
A sudden dropdown in the economy is been witnessed across the world amid the Covid-19 pandemic. Rise in cost of raw material, unavailability of workers, and halt in the production units are the consequences of the rules of complete lockdown and restriction on personnel movement enforced by several countries to control the spread of the virus.
The food & beverages, packaging industry, and manufacturers have also been adversely hit due to all these factors. In addition to this, the ban and shut down of sports & corporate events and gyms respectively have also lowered the demand for biodegradable water bottles during the outbreak. Moreover, the rate of tourism, one of the highest demanding sectors of biodegradable water bottles has also been lowered significantly. Thus, the growth of the global biodegradable water bottles market has been hampered during the pandemic but is expected to rise at a healthy rate with all the sectors being working at a speedy rate post-Covid-19 outbreak.
Competitive Players
The report contains qualitative and quantitative research on the global Biodegradable Water Bottles Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global Biodegradable Water Bottles market include;
- Montana Private Reserve
- Lyspackaging
- Mitsubishi Chemicals (MCPP)
- Cove
- Ecologic Brands Inc.
- Choose Water
- Paper water bottle
- TSL Plastics Ltd.
- Just Water
- Raepack Ltd.
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Segmentation Analysis
The global biodegradable water bottles market is classified based on material type, capacity, end-user, and region. Based on the material type, the global biodegradable water bottles market is categorized by biodegradable plastics, organic material, and others. Based on the capacity, the global market is bifurcated by 15-100ml, 101-500ml, 501-1000ml, and above 1000ml. The end-user segment is divided into specialty purposes, residential use, and institutional use.
Regional Analysis:
Asia Pacific region is estimated to hold the largest share in the global biodegradable water bottles market over the forecast period. The rise in government initiatives, ban on the use of plastic, growing concerns regarding plastic waste, and increase in a number of the tourism sector are the major factors that are boosting the growth of the market in this region. Followed by Asia Pacific, North America is estimated to witness substantial growth in the market due to the rise in demand for biodegradable water bottles for the consumers to reduce the impact of plastic on the environment and growing competition among the manufacturers to launch new products that are eco-friendly and can attract the consumers.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Biodegradable Water Bottles industry?
- What are the main driving factors propelling the Biodegradable Water Bottles Market forward?
- What are the leading companies in the Biodegradable Water Bottles Industry?
- What segments does the Biodegradable Water Bottles Market cover?
- How can I receive a free copy of the Biodegradable Water Bottles Market sample report and company profiles?
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 2437.16 Million |
| Market Forecast in 2030 | USD 3549.81 Million |
| Growth Rate | CAGR of 5.52% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Montana Private Reserve, Lyspackaging, Mitsubishi Chemicals (MCPP), Cove, Ecologic Brands Inc., Choose Water, Paper water bottle, TSL Plastics Ltd., Just Water, Raepack Ltd., and others |
| Segments Covered | By Material Type, By Capacity, By End-User, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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The global Biodegradable Water Bottles market is segmented as follows:
By Material Type
- Biodegradable Plastics
- Organic Material
- And Others
By Capacity
- 15-100ml
- 101-500ml
- 501-1000ml
- And Above 1000ml
By End-user
- Specialty Purposes
- Residential Use
- Institutional Use
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2023-2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Material Type, By Capacity, By End-User, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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