PUBLISHER: SkyQuest | PRODUCT CODE: 1244280
PUBLISHER: SkyQuest | PRODUCT CODE: 1244280
Global Reusable Water Bottle Market was valued at USD 8.90 billion in 2021 and it is expected to reach at USD 11.70 billion by 2028, with CAGR of 4.7% over forecast period (2022-2028).
There is a growing preference for reusable water bottles instead of single-use plastic bottles due to concerns about the presence of Bisphenol A (BPA) in plastic. Although manufacturers are now labeling their products as BPA-free, consumers are opting for stainless steel and glass bottles for their health benefits. With the threat of plastic pollution and the negative environmental impact of single-use plastic bottles, there is an increasing demand for reusable bottles. Glass bottles are particularly popular since they do not degrade over time and are easy to clean, eliminating germs and contamination. As consumers prioritize healthier lifestyles, the popularity of reusable bottles is growing in various settings such as workplaces, schools, and homes. Furthermore, using reusable bottles helps to reduce the amount of waste in landfills, which is a significant source of groundwater and underground pollution.
Segments covered in report
Global reusable water bottle market is segmented based on product type, material, primary usage, size, distribution channel. Based on product type market is segmented as plain reusable water bottles, insulated reusable water bottles, filtered reusable water bottles, collapsible reusable water bottles, reusable water infusers, reusable water growlers, others. Based on material market is segmented as glass, stainless steel, plastic, silicon, others. Based on primary usage market is segmented as everyday reusable water bottles, sports reusable water bottles, travel reusable water bottles, other utilities. Based on distribution channel market is segmented as direct sales, supermarkets/hypermarkets, specialty stores, independent stores, online retailers, other sales channels. Based on size market is segmented as 8-12 oz. reusable water bottles, 16-27 oz. reusable water bottles, 32 oz. reusable water bottles, 40 oz. reusable water bottles, 64 oz. reusable water bottles, 1 Gallon and Above reusable water bottles. Based on region market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa.
Drivers
In the last half-century, the extensive utilization of plastic bottles has resulted in considerable ecological problems such as plastic waste buildup in water sources and the discharge of hazardous substances into the ecosystem. As a result, numerous individuals who are mindful of the environment have aimed to reduce their plastic consumption to protect their health and the planet, leading to a rise in demand for eco-friendly goods. To attain this objective, consumers are opting for reusable water bottles instead of single-use plastic bottles. Additionally, the low cost of reusable water bottles has contributed to their increasing popularity in the market.
Restrains
In the manufacture of water bottles, the inclusion of substandard plastic materials or by-products that contain harmful compounds like volatile organic compounds (VOCs), BPA, and phthalates can impede market revenue growth. Furthermore, the utilization of unclean and unsanitary bottles may cause the accumulation of dangerous bacteria, creating a health hazard for individuals. Consequently, it is expected that the global reusable water bottle market's expansion will suffer in the future due to the widespread use of such bottles.
Trends
The rising awareness among the general public about the environmental damage caused by disposable water bottles is expected to boost the demand for sustainable alternatives. The adverse ecological effects associated with non-reusable and single-use water bottles are driving the need for eco-friendly options. More and more people worldwide are embracing reusable water bottles in various settings such as workplaces, schools, homes, etc., as they strive to live a healthier lifestyle. Reusable water bottles are crucial in reducing landfill waste and preventing pollution of land, soil, and groundwater.