PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401439
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401439
Global Reusable Water Bottle Market is valued at approximately USD 8.92 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.4% over the forecast period 2023-2030. Reusable water bottles are gaining popularity among consumers worldwide due to their ability to reduce waste. As a result, the market for reusable water bottles is expanding, driven by government initiatives to discourage the use of single-use plastic bottles and promote the use of eco-friendly alternatives. However, the higher cost of reusable bottles compared to plastic bottles hinder the market growth.
With the advancements in transportation and work culture, many individuals are frequently traveling from one place to another, leading to a growing demand for reusable water bottles. Shockingly, Forbes reported in July 2017 that individuals purchase one million plastic bottles per minute globally, with 91% of all plastics not being recycled. In the United States alone, over 60 million plastic bottles are disposed of daily, but only 23% of disposable bottles are recycled. However, recent data from The Roundup suggests that as of 2023, 60% of US adults now own a reusable water bottle, totaling approximately 155 million individuals according to the most recent US census. Technological innovation and growing concern for eco-friendly products also create opportunities for market growth. However, the availability of inferior plastic materials, phthalates, BPA, and volatile organic compounds in single-use plastic bottles limit market revenue growth.
The key regions considered for the Global Reusable Water Bottle Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 due to government initiatives pushing manufacturers to use eco-friendly and sustainable materials. People are adopting a healthy lifestyle and prioritizing a sustainable environment. Consequently, they are preferring to use reusable water bottles instead of disposable ones. Additionally, global efforts to protect marine life from the harmful effects of plastic waste in oceans are driving the market. North America is expected to grow significantly during the forecast period, due to urbanization and changing lifestyles as people seek healthier, sustainable options. The government is promoting the use of eco-friendly and sustainable materials by bottle manufacturers due to the risks posed by plastic water bottles.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable