WASHINGTON, Oct. 11, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, the increasing awareness of environmental risks has inspired individuals to shoulder the responsibility of minimizing their impact on the plastic issue. Consequently, a significant global consumer base has consciously abandoned single-use plastic bottles instead of Reusable Water Bottles.
According to Vantage Market Research, the Global Reusable Water Bottle Market is estimated to be valued at USD 11.5 Billion by 2030 and is expected to exhibit a CAGR of 4.8% during the forecast period 2023 to 2030. The global Reusable Water Bottle market grew to USD 8.3 Billion in 2022.
The popularity of Reusable Water Bottles is rising among consumers, particularly in household, office, and educational settings. These eco-friendly bottles play a pivotal role in reducing the volume of plastic waste accumulating in landfills, a significant source of groundwater contamination. This shift towards Reusable Water Bottles is driven by heightened awareness of the detrimental environmental impacts of non-disposable and single-use plastic bottles and the alarming increase in plastic pollution in oceans and landfills.
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Key Highlights
- By Material Type, the Stainless-Steel segment is anticipated to mention the fastest growth of the market during the forecast period.
- By Usage, the Sports segment is expected to witness maximum market growth over the projected period.
- During the anticipated period, the online segment will likely dominate the market by Distribution Channel.
- With a revenue share of 42.1 percent, the Asia Pacific region led the market and will be experiencing the most rapid market growth over the forecast period.
Governments worldwide are taking measures to dissuade single-use plastic water bottles while promoting the adoption of reusable bottles crafted from eco-friendly and safe materials like glass and metal. Notably, restrictions on single-use plastic water bottles have been implemented in countries such as Australia, Canada, the United States, and certain Indian states, opening up new avenues for the growth of reusable bottle industries. Furthermore, the considerable enthusiasm for picnics and outdoor recreational activities in city parks, local green areas, and public trails presents promising opportunities for various types of reusable bottles. For instance, the 2021 Maru Voice Canada poll revealed that 52% of Canadians are more inclined to engage in outdoor leisure activities more frequently.
Top Companies in The Global Reusable Water Bottle Market
- CamelBak Products LLC (U.S.)
- BRITA GmbH (Germany)
- Klean Kanteen Inc. (U.S.)
- Tupperware Brands Corporation (U.S.)
- Contigo (U.S.)
- SIGG Switzerland AG (Switzerland)
- Aquasana Inc. (U.S.)
- Bulletin Brands Inc. (U.S.)
- Thermos LLC (U.S.)
- Nalge Nunc International Corp. (U.S.)
- S-Well Corporation Nathan Sports Inc. (U.S.)
- Cool Gear International LLC (U.S.)
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Factors Affecting the Growth of the Reusable Water Bottle Industry
The development of the Reusable Water Bottle market may be impacted by a number of variables. Some of these factors include:
- Increasing environmental consciousness: Rising concerns about plastic waste and its environmental impact have led to a significant shift towards Reusable Water Bottles. People are now more aware of the need to reduce single-use plastic consumption, driving the demand for reusable alternatives.
- Government campaigns and regulations: Many governments across the globe have implemented campaigns and rules to reduce plastic waste. For example, in 2020, the European Union banned single-use plastic items, including plastic water bottles. This has further propelled the demand for Reusable Water Bottles.
- Health and wellness trends: The growing focus on health and wellness has contributed to the popularity of Reusable Water Bottles. Consumers increasingly carry their water bottles to stay hydrated and avoid consuming sugary beverages.
- Increasing disposable income: Rising disposable income in emerging economies has increased spending on premium and branded Reusable Water Bottles. Consumers are now willing to invest in durable, high-quality bottles that can be used for a long time.
- Technological advancements: Manufacturers have introduced innovative features in Reusable Water Bottles to enhance convenience and usability. These include leak-proof lids, temperature control, filtration systems, and collapsible designs. Technological advancements have significantly boosted the market growth.
- Online retailing: Consumers now have easier access to a variety of Reusable Water Bottles because to the growth of e-commerce platforms. Online retailing has expanded the market reach, allowing consumers to explore various brands and make informed purchasing decisions.
Top Trends in Global Reusable Water Bottle Market
One of the prominent market trends within the Reusable Water Bottle industry is the escalating demand for innovative designs and enhanced features. Consumers are actively seeking water bottles that provide practicality and offer additional benefits or unique functionalities. An illustrative example includes certain brands introducing bottles equipped with built-in filters, capable of purifying tap water by removing impurities, ensuring a clean and safe drinking experience. The convenience of replaceable filters makes these bottles appealing, particularly for frequent travelers or individuals with limited access to clean water sources. Another significant market trend is the surging popularity of insulated water bottles. These bottles are meticulously engineered to maintain the temperature of beverages, keeping them either cold or hot for extended periods. This feature renders insulated bottles ideal for various scenarios, from outdoor activities and sports to everyday use. The growing demand for portable and convenient hydration solutions primarily drives this trend. For instance, renowned brands like Hydro Flask and Yeti offer insulated water bottles capable of preserving the temperature of drinks for up to 24 hours when cold or up to 12 hours when hot, catering to consumers who prioritize temperature control.
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Recent Development of the Global Reusable Water Bottle Market
- June 2023: Tupperware® and Vera Bradley® have unveiled their most recent limited-edition product collaboration. Following the success of their beloved 2022 collection, these two brands have returned with another enticing range of Tupperware food and drink containers, showcasing two of Vera Bradley's latest patterns: Sea Air Floral and Cloud Vine Multi.
- December 2022: Tupperware® has joined forces with the National Park Foundation to further bolster their commitment to reducing waste in National Parks, diverting an extra one million single-use plastic bottles away from landfills each year.
- June 2022: Contigo® has broadened its range by introducing three new products aimed at enhancing the drinking experience.
Market Drivers
Many governments worldwide are implementing regulations and initiatives to reduce plastic waste. For instance, several cities have banned the sale of single-use plastic bottles, prompting consumers to switch to reusable options. These policies create a favorable environment for the growth of the Reusable Water Bottle market. For example, San Francisco, California, implemented a ban on selling single-use plastic water bottles on city-owned property in 2014. This regulation led to an increase in the adoption of Reusable Water Bottles among residents and visitors. In addition, there is a growing emphasis on leading a healthy lifestyle, which includes staying hydrated. Reusable Water Bottles are a convenient and hygienic way to carry water, encouraging individuals to drink more throughout the day. The market for Reusable Water Bottles continues to grow significantly as a result of this health-conscious trend. For example, fitness enthusiasts and gym-goers prefer carrying their Reusable Water Bottles during workouts to ensure they stay hydrated and avoid consuming sugary beverages.
Market Restraints
Reusable Water Bottles are generally more expensive than single-use plastic bottles. Although the initial investment pays off in the long run due to the reduced need to purchase disposable bottles, the higher upfront cost may deter price-sensitive consumers. Customers may favor conventional drinking water from the tap over reusable bottles in areas where the water is safe to ingest. This can limit the market potential in such areas. While the awareness about the environmental impact of single-use plastic is increasing, a significant portion of the population still needs to be aware of the benefits of Reusable Water Bottles. The market growth may be aided by awareness and understanding of the significance of sustainability.
Market Opportunities
Reusable Water Bottle manufacturers actively create bottles with storage compartments for both hot and cold water. For instance, Klean Kanteen has garnered attention for its Climate Neutral Certified products within this sector, contributing to its growing popularity. In response to such advancements, manufacturers in this market are drawing inspiration to develop bottles that are not only BPA-free but also dishwasher-safe. Conversely, reusable glass water bottles, enhanced with silicone sleeves, have risen due to their appealing aesthetic qualities. These silicone sleeves serve the purpose of cushioning impact when the bottles are accidentally dropped. Brands now provide a lifetime warranty against fragmenting for reusable glass water bottles in order to obtain a competitive advantage.
Browse market data Tables and Figures spread through 200 Pages and in-depth TOC on Reusable Water Bottle Market Forecast Report (2023-2030).
Report Segmentation of the Global Reusable Water Bottle Market
Material Type Analysis
Stainless Steel segment is expected to mention maximum market growth during the forecast period. Stainless steel bottles are known for their durability and long lifespan. They can withstand drops, impacts, and rough handling without denting or breaking. This characteristic makes them highly desirable for consumers looking for a Reusable Water Bottle that lasts years. In addition, the need for sustainable substitutes for single-use plastic bottles has surged as a result of rising environmental concerns, such as plastic pollution. Because they can be recycled multiple times, stainless steel bottles are seen as more environmentally friendly than single-use plastic ones. Furthermore, stainless steel is recyclable, further minimizing its environmental impact.
Usage Analysis
The sports segment is anticipated to lead the market during the projected time frame. The popularity of sports events and activities such as marathons, triathlons, and sports leagues has surged in recent years. These events usually require participants to stay hydrated, and using a Reusable Water Bottle is a convenient and eco-friendly option. As such events continue to rise, so does the demand for sports water bottles. In addition, many sports personalities and athletes endorse and promote Reusable Water Bottles. These endorsements significantly create awareness about the benefits of carrying a water bottle during sports activities. Athlete sponsorships by water bottle manufacturers also contribute to the growth of the sports segment within the market.
Distribution Channel Analysis
The online segment will witness the most extensive market growth during the forecast period. The market for Reusable Water Bottles has seen explosive growth in e-commerce due to the convenience of online shopping. Consumers may shop and buy water bottles online from the convenience of their homes, eliminating the need for them to physically visit establishments to do so. Reusable Water Bottle sales online have been significantly influenced by this convenience feature. Additionally, a change in consumer behavior toward reusable alternatives has been brought about by growing knowledge of the adverse environmental impacts of single-use plastic bottles. The public now has easier access to knowledge on sustainability and the negative effects of plastic pollution because to the growth of social media and online platforms. This awareness has influenced consumers to seek Reusable Water Bottles as an eco-friendlier option actively. Online platforms have allowed these environmentally conscious consumers to find and purchase Reusable Water Bottles easily.
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Market Segmentation
By Material Type
- Glass
- Metal
- Stainless Steel
- Plastic
- Silicon
- Other Material Types
By Usage
- Everyday
- Sports
- Travel
- Other Usages
By Distribution Channel
- Supermarkets & Hypermarkets
- Specialty Stores
- Convenience Stores
- Online
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 8.3 Billion |
| Revenue Forecast by 2030 | USD 11.5 Billion |
| CAGR | 4.8% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | CamelBak Products LLC, BRITA GmbH, Klean Kanteen Inc., Tupperware Brands Corporation, Contigo, SIGG Switzerland AG, Aquasana Inc., Bulletin Brands Inc., Thermos LLC, Nalge Nunc International Corp., S-Well Corporation Nathan Sports Inc., Cool Gear International LLC |
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Regional Analysis
Asia Pacific led the Reusable Water Bottle market growth in 2022. The Asia Pacific region has implemented programs to reduce plastic waste, which has significantly increased the demand for Reusable Water Bottles. For instance, 2019, China implemented a nationwide ban on single-use plastics in significant cities, encouraging people to opt for reusable alternatives. Similarly, India launched the "Swachh Bharat Abhiyan" campaign to promote cleanliness and reduce plastic waste, which has increased the adoption of Reusable Water Bottles. In addition, consumers in this region have become more cognizant about the way their habits influence the world around them. They are opting for sustainable products, including Reusable Water Bottles, as part of their efforts to reduce plastic waste. The growing popularity of outdoor activities, sports, and fitness trends has also increased demand for durable, high-quality, Reusable Water Bottles among active consumers.
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