A recent report published by Infinium Global Research on the reusable water bottle market provides an in-depth analysis of segments and sub-segments in the global as well as regional reusable water bottle market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional reusable water bottle market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global reusable water bottle market. According to the report, the global reusable water bottle market is projected to grow at a significant CAGR over the forecast period of 2022-2028.
The bottle that can be reused is termed a reusable bottle. For environmental and health safety reasons reusable bottles have grown in popularity among consumers. Reusable bottles are one example of reusable packaging. The reusable water bottles are composed of high-density polyethylene (HDPE), Low-density polyethylene (LDPE), copolyester, or polypropylene. They offer the advantage of being lightweight, durable, dishwasher-safe, and BPA-free. There are some benefits of reusable water bottles such as protecting ourselves from toxic chemicals, protecting the environment, tracking how much we drink, to experience the taste of water because the water tasted good in stainless steel bottles with these there are several benefits that reusable bottles carry. With these reusable bottles, the individual could save an average of 156 plastic bottles annually. In every second 1,500 bottles of water are consumed in America. Making bottles to meet America's demand for bottled water uses more than 17 million barrels of oil, annually.
Consumers nowadays are being more health conscious about their health and environment. In the reusable water bottle market, this factor drives the growth of the market. The increased awareness about protecting the environment from different harmful plastic products among people is boosting the demand for eco-friendly products. So with reusable water bottles, we reduce the waste which is generated by using single-use of water bottles. Easy-to-carry water bottles are in demand nowadays, especially in traveling and these kinds of products are preferable by consumers. Along with this the consumers are more conscious of their health and avoid water that contains harmful chemical substances which leave a negative impact on their health. The higher cost of reusable water bottles is high compared to single-use of water bottles. This can be the restraining factor in the growth of the market. The cost of reusable water bottles is high as they contain some substances that have the highest cost as compared to plastic material. Consumer prefers their comfort zone along with the fulfillment of their needs. In a reusable water bottle, the liquid remains cool for a long period and hot for a long period. Which increases their consumer ability for a large period. Including this, there are many other advanced innovations in the reusable water bottle market which create lucrative growth opportunities for the market.
Asia Pacific is the central dominated region for the reusable water bottle market. Rapid urbanization, more concern about health and the environment, and the ability to save money. According to the Economic Times in India, the Union minister of consumer affairs, food, and public distribution has declared the order to his departments to come up with a replacement for plastic water bottles. North America is projected to hold the second largest region that dominates the market due to the sports industry in this region. Sports such as Football, Baseball, Ice-Hockey, basketball, and other sports in which the consumer prefers reusable water bottles over plastic water bottles. Along with this the increasing standard of living also boosts the demand in this region.
The report on the global reusable water bottle market covers segments such as material, distribution, and user type. On the basis of material, the sub-markets include plastic, glass, stainless steel, silicon, and polymer. On the basis of distribution, the sub-markets include online, hypermarket, and supermarket. On the basis of user type, the sub-markets include sports, daily use, and travel.
The report provides profiles of the companies in the market such as Tupperware Brands Corporation, Thermos LLC, Nalge Nunc International, Aquasana, Inc., Bulletin Brands Inc., Thermo Fisher Scientific Inc, HYDAWAY, Klean Kanteen, Newell Brands, and PRETIUM PACKAGING.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the reusable water bottle market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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