Several companies are manufacturing reusable water bottles with added features such as built-in filter systems that remove a certain amount of water impurities or contamination from the water. Reusable water bottles have filter made of activated charcoal with a slight electro-positive coating that eventually run out. As water passes through the filter, it removes most of the chlorine, other heavy metals, and any unusual taste from the water, making the water fit for drinking. This feature is gaining a lot of traction among consumers, which in turn, is increasing demand for built-in filter reusable water bottles. Moreover, innovative designs being offered are also lending impetus to market growth. Global sales of reusable water bottles are expected to be around US$ 9 Bn in 2021. According to a new report by Persistence Market Research, the reusable water bottles market is estimated to register a steady CAGR of close more than 4% over the forecast period of 2021-2031.
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Key Takeaways from Market Study
- In terms of regional analysis, East Asia and North America are expected to register rapid growth, driven by growing demand from consumers engaged in sports activities. Moreover, rising population, easy availability of products, and inexpensiveness have resulted in high market expansion in these regions.
- Strong growth in developing countries such as India, China, Saudi Arabia, and Russia, among others, is largely driven by change in consumer preferences and lifestyles, and enhancement in the standard of living due to higher purchasing power.
- Increasing demand for fancy and premium water bottles as a status symbol and rising number of brand-conscious consumers in Western European are leading to increased demand for reusable water bottles.
- With growing significance on sustainability and increasing consumer awareness, the insulated segment is expected to register significant growth. The segment accounted for around 3/4 market share by the end of 2020, and is expected to exhibit the fastest growth, registering a CAGR of more than 4% over the forecast period.
- By material, polymer dominates the market with a share of 32.7% in 2020, in terms of value. This is attributed to the low cost of. The life expectancy of polymer reusable water bottles is greater than other types, which has increased consumers interest in the consumption of reusable water bottles.
- As per the analysis, hypermarkets/supermarkets are the most popular distribution channels for reusable water bottles. However, online sales are expected to scale up over the coming years.
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Market Competition
The report underlines groundbreaking insights into the competitive scenario of the reusable water bottles market, along with highlights of differential strategies used by manufacturers. Some of the key players identified across the value chain include Camelbak Products LLC, Brita GmbH, Klean Kanteen Inc., Tupperware Brands Corporation, Newell Brands, Can’t Live Without It, LLC, Thermos LLC, A. O. Smith Corporation, Bulletin Brands LLC, Nalge Nunc International Corp., Maurice Sporting Goods, LLC, United Sports Brands, Igloo Products Corp., Memo Bottle, and Zhejiang Haers Vacuum Containers Co. Ltd., among others.
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