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A water bottle is basically a vessel that is used to retain any form of liquid, water or other beverages for consumption. Some of the main purposes of using reusable water bottles are to reduce waste, to save money, to protect our health and others. It reduces waste of bottles as a reusable water bottle can be reused again and again which in turn creates lesser waste and thus act as one of the propelling product that helps to protect the environment. Furthermore, the production of especially stainless bottles comes with a lifetime guarantee which means that it will help us to save more money due to its long-lasting capability. Moreover, low quality plastic is not only just harmful to the planet, it is also harmful to the bloodstream as well but reusable non-plastic bottles helps to reduce the use of plastic and helps to avoid the intake of leakage of chemical present in low quality plastic bottles.
Additionally, increasing the production of reusable bottle which uses UV light to eliminate harmful bacteria and has the ability to cleanse water is propelling more demand of the product. This is because consumers are now highly conscious of their health and want to avoid harmful water or food sources that could later hamper their health.
Key Market Driver -
Increasing growth of sports industry owing to propel more demand of reusable bottles
Key Market Restraint -
Higher cost of the product as compare to normal plastic bottle act as one of the major restraining factor for the growth of the market.
Moreover, due to the advancement of transportation and change in work culture more people are traveling from one state to another or from one country to another this is results in more demand for reusable bottles. Since most people do not trust any bottle that they are given for the consumption of water or any beverages in their travels. According to Forbes July 2017, people buy a million plastic bottles per minute worldwide and out of that 91% of all plastics are not being recycled.
The rising growth of the sports industry is one of the major factors which helps to drive more demand of usable bottles. This is because every athlete or sportspeople need their bottle to cool them down while they are doing their game or training. Also, their sports authorities are highly conscious of their intake water or beverage which is why sports industry act as one of the major fostering force for the growth of the market.
Furthermore, Nowadays the consumer wants their water to be cold in summer and hot or moderate water in winter. Therefore, the innovation of usable bottle which has the ability to keep liquid hot and cold can act as one of the immense opportunities for the growth of the market.
The higher cost of the reusable bottle as compared to normal plastic bottle act as one of the restraining factor which affects the growth of the market.
The major key players which are operating in the water bottle market include Klean Kanteen, Inc., Thermo Fisher Scientific Inc., Aquasana Inc., Sigg Switzerland AG, and CamelBak Products LLC.
Most of the players are focusing on manufacturing products with innovative, high quality, environment-friendly and long-lasting products to foster the growth of the market.
The global reusable water bottle market is segmented into by type, by distributional channel, and by region.
Based on type, the water bottle market is segmented into glass, metal, plastic, and silicon. Plastic is projected to hold the major share in the market this is due to low manufacturing and material cost and which results in the production of a cheaper product that drives more demand as compare to other segments.
On the bases of the distribution channel, the market is segmented into offline and online. Offline market channels such as hypermarket & supermarket distribution channel is estimated to be a greater segment as compared to online distribution channel this is due availability of an immediate purchasable product which are present in large variety as compared to waiting for it to get delivered.
According to the region, the reusable water bottle market is segmented into North America, Europe, Asia Pacific, South America, and Middle East& Africa.
The Asia Pacific is the major dominating region in the reusable water bottle market and is estimated to continue its dominance during the forecast period 2019-2026. Some of the factors contributing to its dominance include urbanization, moving towards a healthier lifestyle, increasing concern for a sustainable environment and the ability to save money. According to Economic Times, in India, Union Minister for Consumer Affairs, Food and Public Distribution has declared the order to his departments to come up with replacements of plastic water bottles.
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North America is projected to be the second dominating owing to the increasing growth of the sports industry in this region. Sports domains such as American Football, Baseball, Ice-Hockey, Basketball, and others are growing in an intensive amount which contributed more to the demand of reusable water bottles and thus foster the growth of the market in this region. Moreover, the rise in income level, the higher standard of living and application of excellent advertising strategies also contribute to the propelling demand of the product in this region.
By Distributional Channel
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