Global Reusable Water Bottle Market to Hit Sales Value of $11.70 Billion by 2028 | Plastic to Hold Over 35% Market Share | SkyQuest Technology
Global reusable water bottle market was valued at USD 8.90 billion in 2021 and it is expected to exceed valuation of USD 11.70 billion by 2028, with CAGR of 4.7% over forecasted period (2022–2028).
Westford, USA, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Recent SkyQuest study on the global reusable water bottle market have shown that growing demand for reusable water bottles is due to the health benefits that come with drinking filtered water. Bottled water companies are now responding to the rising demand by developing new bottle designs and marketing campaigns. For example, Coca-Cola has developed a reusable water bottle that can cold brew coffee or tea. One reason why reusable water bottles are gaining popularity is because they are environmentally friendly.
According to our analysis of the global reusable water bottle market, each disposable water bottle generates around 1,700 pounds of waste over its lifetime. Reusable water bottles, on the other hand, can help reduce this waste by up to 70%. Moreover, using reusable water bottles reduces waste from landfills by up to 80%. Additionally, using reusable water bottles can help reduce carbon emissions from transportation.
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Current Market Scenario: Plastic to Hold Over 35% Market Share
There are four types of reusable water bottles: stainless steel, Silicon, BPA-free plastic, and glass. Among these, plastic is the most popular type, with a market more than 35% share of the reusable water bottle market. This is due to its durability and resistance to corrosion. Glass bottles are not as popular as stainless steel and plastic because they are heavier and harder to clean. They accounted for less than 15% of the market in 2021. The popularity of BPA-free plastic bottles has grown significantly over the past few years, accounting for almost two-thirds of the market in 2021 under plastic segment. This is due to their durability and resistance to bacteria and odor development. Among the various regions across the world, North America dominates the market. This is likely due to high consumer spending on premium beverages such as wine and soft drinks.
Increasing demand from fast food restaurants and foodservice companies in the global reusable water bottle market. These businesses are interested in using reusable water bottles to reduce the amount of waste that they generate. In fact, one such company that has implemented a reusable water bottle initiative is McDonalds. The company has installed over 1,000 hydration stations across China that allow customers to fill up their own reusable water bottles with drinking water for free.
However, while the global reusable water bottle market is growing rapidly, there are some challenges that companies need to overcome if they want to succeed. One of these challenges is convincing consumers that they should switch from using disposable water bottles to using reusable ones. This challenge will likely be overcome as consumer awareness of climate change grows
SkyQuest’s report on the global reusable water bottle market: size, trends, and future outlook reviews the market landscape and identifies key drivers and inhibitors of the market growth. It also provides an insightful SWOT analysis of the market along with detailed vendor profiles of major players.
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The World is Responding Positively
Although reusable water bottles have long been popular among environmentalists, health-conscious consumers and eco-conscious laborers, recent changes in legislation and the growth of a sustainable consciousness are driving increased demand for these products in the global reusable water bottle market. As one example, the municipal law of many U.S. cities now requires restaurants to provide customers with recycled water glasses and bottles, instead of single-use cups.
The technology to create high-quality, durable reusable water bottles has been around for some time, but recent advances in materials science and manufacturing have made it possible to commercialize these products at low cost. Companies that manufacture and sell reusable water bottles can generally be divided into two categories: those that make their own bottles using polypropylene or other plastics, and those that buy premanufactured bottles from external manufacturers.
In the global reusable water bottle market, the polypropylene industry is dominated by two large players: PET bottle maker Nalgene and glass bottle maker Aquafina. Both companies have invested significantly in research and development over the past several years, hoping to bring new versions of their bottles to market that are more resistant to breaking and easier to clean. PVC is a strong material for making containers for liquids because it does not corrode or oxidize over time like other materials do. But unlike traditional plastic bags, which can be reused multiple times before they need to be disposed of, PVC containers are limited in how many times they can be reused. That is because after each use the plastic gets brittle and eventually crumbles.
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SkyQuest Analysis: 53 billion Water Bottles Sold in US Each Year
The reusable water bottle market is on the rise, as consumers become more aware of the environmental benefits of reusable water bottles. Here are some top trends in market: The number of people using reusable water bottles has increased every year since 2011, when a study by the SkyQuest Technology found that 38% of U.S. adults had at least one reusable water bottle. The study found that women (50%) are more likely than men (33%) to have at least one reusable water bottle.
Americans are increasingly breaking their addiction to buying bottled water due to the high costs of disposable bottles. In fact, statistics show that Americans use more than 53 billion plastic water bottles each year. While this number sounds astronomical, it's actually a fraction of the amount of plastic produced each year. In response to the growing demand for reusable water bottles, companies like SeePlus are making it easier than ever for people to ditch the bottled water habit. SeePlus is a company that makes reusable water bottles that come in a variety of colors and designs. These bottles can be filled with any type of drink, including tea, coffee, juice, and soda.
Top Challenges in Global Reusable Water Bottle Market
The reusable water bottle market has a long way to go before it can truly become a global norm. Here are some of the key challenges the market is facing:
1. Upward price pressure: Producing and selling reusable bottles has been expensive for manufacturers, but this is starting to change as competition drives down prices. However, even as prices come down, there is still a big investment required to mass produce and market reusable bottles.
2. Limited distribution channels: The reusable water bottle market is currently very limited. There are only a few small distributors and retailers in most countries, which makes it difficult for manufacturers to get their products into the hands of consumers.
3. Lack of sustainability: The recycling infrastructure for plastic water bottles is not well-developed yet, meaning that a lot of waste from reusable bottles ends up going to landfills or being incinerated instead of being recycled. This limits the lifespan of the bottles and increases environmental pollution.
4. inefficient production process: The manufacturing process in reusable water bottle market is very inefficient and polluting, which results in high energy costs and low productivity per unit output. If these challenges are not addressed, the reusable water bottle industry may only remain a niche market with limited appeal.
Top Players in Global Reusable Water Bottle Market
S'well
Swarovski
Klean Kanteen
Bulletin Bottle
Chilly's Bottles
Aquasana
SIGG Switzerland
HYDAWAY
CamelBak
Contigo
Daylesford
Nanlong
Shinetime
Haers
Thermos
Zojirushi
Peacock
PMI
TIGER
Lock&Lock (Hana Cobi Plastic)
EMSA GmbH
Nathan Sports
Cool Gear International
O2COOL
Nalge Nunc International
Brita
Tupperware Brands Corporation
Starcups
Gobilab
Pacific Market International (PMI)
AVALEISURE
DGHH
ME.FAN
Fdit
MagiDeal
Sikye
Sillymann Silicone Folding Cup
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