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Nowadays, the hydration bottle is becoming increasingly popular due to the growing number of people involved in different types of outdoor activities. This bottle has the competency to preserve the internal temperature of water either cold or hot even if the external temperatures are changed. Moreover, several travelers are taking precautionary measures by carrying a water bottle while traveling to help avoid water-borne infectious diseases which in turn, is assisting to increase the consumption of hydration bottles. According to the data released by the UN World Tourism Association in 2018, about 1.4 billion tourists travelled (overnight visitors) around the world in 2018.
The innovation of a smart hydration bottle such as the bottle which has the ability to charge a phone while functioning as a bluetooth speaker at the same time is acting as an opportunity for the growth of the market. For instance, the invention of the NEXT Bottle by Florida-based Health Emporium LLC which has features such as rubber grip ergonomics, key holder, bluetooth speaker, and phone charger is expected to gain traction in the market.
The rising number of people participating in different sports such as football, basketball, cricket, and others has increased the usage of hydration bottles as these sportsmen need to stay hydrated while playing. Moreover, several big sports events attract players to participate in various competitions that have resulted in increased popularity of the number of sports and sports events globally which in turn is expected to propel the demand for hydration bottles. According to the data published by FIFA, 2018, about 32 countries participated in the FIFA World Cup 2018 wherein the World Cup also had 3.57 billion viewers from all over the world. Furthermore, manufacturers are producing hydration bottles that are free from Bisphenol A, plastic, and aluminum to attract more consumers who are highly health-conscious. Moreover, the rising requirement of the bottles in training and for real-life combat purposes by soldiers to sustain their hydration level while covering long and rough terrain at their duties is projected to fuel market growth.
However, the availability of counterfeit products that are of low quality and which easily get damaged is acting as a hampering factor for market growth.
Key Market Driver -
The growing number of people involved in sports act as a driving factor for the market growth.
Key Market Restraint -
Presence of counterfeit products act as a restraining factor for the market growth.
The key players operating in the hydration bottle market comprises of Pacific Market International, Yeti Holding Inc., Thermos L.L.C, CamelBak Products LLC, Hydro Flask, Newell Brands Inc. (Contigo), and others.
The hydration bottle market is fragmented into by product material, by material, by quality, by distribution channel, and by geography.
On the basis of product type the market is segmented into regular, and insulated. Regular bottles are estimated to hold a larger share on an account of the majority of the consumers who are not living at an extreme weather condition which requires retaining the hot or cold temperature of a liquid in the bottle.
Based on material type, the market is divided into plastic, stainless steel, and glass. Plastic is projected to be the dominating owing to its low cost and lightweight nature which makes it convenient to carry around while traveling. However, steel is more durable which helps to avoid damage or breaking of the bottle.
By quality, the market is grouped into low, mid-range, and high. Mid-range quality is anticipated to be the superior market due to its low price range as compared to high quality, wherein it possesses several features of high-quality bottles. High-quality bottles are majorly used by professional sportspersons.
Based on the distribution channel, the market is separated into supermarket/hypermarket, online, and others. Supermarket /hypermarket is expected to be the bigger market on the basis of the availability of a wide range of products to choose from and also the convenience to make an instant purchase of the product.
On the basis of region the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America is estimated to hold a major share and is projected to dominate during the forecast period of 2020-2027. A large number of people involved in activities like hunting, camping, adventure sports, and others are helping to drive the market growth in this region. Moreover, hydration bottles can be reused for a long period. And, increased awareness regarding the environment among consumers is therefore projected to result in boosting the demand of these reusable bottles in the region. Additionally, the region having a large number of middle to high-income earners also contributes to the increasing sales of the product as they have the ability to purchase a large number of consumer goods including a hydration water bottle.
Europe is also anticipated to show a significant presence during the coming years owing to large contributions from its tourism industry where tourists can participate in various open-air activities such as hiking, trekking, biking, and others. These activities consume lots of energy and generate a necessity to own a hydration bottle. According to the data published by Condor Ferries, there is an estimation of 710 million global visitors travelled to Europe in 2018. Additionally, the growing popularity of the use of this bottle at working places such as mining, manufacturing factories, and other physically demanding jobs in this region also contributes to market growth.
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