Reusable water bottle market trends, size, drivers, strategies,products and competitive landscape outlook to 2016 2024
1. Reusable Water Bottle Market Trends, Size, Drivers,
Strategies,Products And Competitive Landscape Outlook to
2016 - 2024
Report Description
The extremely diversified global market for reusable water
bottles, encompassing numerous product varieties in terms of
2. material, size, shape, and designs, features presence of a
large number of water bottle manufacturers vying for a share
in the market through the introduction of innovative
products. The trends of increased usage of BPA-free materials
and rising adoption of smart bottles are expected to have a
profound influence on the overall development of the market
in the next few years.
Transparency Market Research estimates that the market will
expand at a 4.2% CAGR over the period between 2016 and
2024. Expanding at this pace, the market, which valued at
US$7.04 bn in 2015, is expected to surpass US$10.19 bn by
2024.
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Polymer-based Reusable Water Bottles to Remain Most
Lucrative Product Variety
Based on the type of material used to manufacture reusable
water bottles, the market has been segmented into polymer,
metal, silicone, and glass. Of these, the polymer-based
reusable water bottles is presently the leading segment owing
to its wide availability, differentiating features, and low cost.
Based on TMRâs consumer survey analysis, the segment is
ranked first in terms of the penetration level of reusable
water bottles across the worlds and is expected to remain a
4. prominent choice for respondents to purchase in the near
future as well.
The segment of polymer-based reusable water bottle is also
expected to be the dominant contributor to the revenues of
the global reusable water bottle market over the forecast
period. The increasing adoption of the âTritanâ material,
which is a low cost, BPA-free, and recyclable polymer, will
help boost the consumption of polymer-based reusable water
bottles.
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5. Trailing the segment of polymer-based reusable water bottles
is the segment of metal bottles. Features of metal bottles
such as durability, easy availability in insulated varieties,
which help keep water hot or cold for longer periods of
time, and availability of several metal varieties for making
metal bottles work in their favor. By 2024, the segment of
metal reusable water bottles is expected to account for nearly
33.5% of the global market.
Asia Pacific to Retain Dominance in Terms of Production as
well as Consumption
In terms of geography, the market for reusable water bottles
in Asia Pacific is projected to be the one with the most
6. promising growth in the global market. The regional market
is expected to exhibit a CAGR of 5.0% over the period
between 2016 and 2024. The region is expected to be highly
favorable in terms of incremental opportunities for revenue
generation. It is expected to account for a 34.3% of the
global market in 2016, followed by Europe and North
America.
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The flourishing retail sector in Asia Pacific on the backdrop
of increasing numbers of supermarkets/hypermarkets and a
rapidly evolving e-commerce platform have led to the rise in
7. the revenues of the regionâs reusable water bottle market.
The market for reusable water bottles is also driven by the
growing middle income population, rising disposable incomes,
and the improving living standards in the region. China is
likely to continue to dominate the Asia Pacific market for
reusable water bottle over the forecast period. China is not
only a prominent consumer of reusable water bottles but also
takes the top spot when it comes to the presence of large
scale manufacturers of reusable water bottles.
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