With the ongoing restrictions on mass gatherings and large events due to Covid-19, there has been a bearish trend in the global demand for reusable water bottles. Manufacturers of reusable water bottles have narrowed down production due to the fall in purchase statistics of reusable water bottles as well as disrupting supply chains. At-home utilization of reusable water bottles remains consolidated, but out-of-home utilization in sports and travel related activities has almost come to a standstill which earlier generated the highest margins.
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Demographic and Social Changes to HeightenDemand for Reusable Water Bottles
The global reusable water bottle market is projected to be valued at more than US$ 11Bn by 2030, with a CAGR of over 3.9% during the forecast period. The key factor facilitating demand for reusable water bottles have been the social initiatives such as ‘Refill the Planet’. Global campaigns to reduce the number of plastic bottles is creatingnotable demand for reusable water bottles. Another primary driver forwarding the reusable water bottles market is the damaging effects ofone time use plastic bottles. Moreover, the growth in mass sporting events in the last decade has led to high demand for reusable water bottles especially in the western nations.
Polymer-based Reusable Water Bottles to Create High Growth Opportunities
The polymer sub-segment has accounted for more than 30% of the total material type segment. Reusable water bottles made from polymer materials are more economical than those made from metal, glass and silicone. These polymer based bottles are also simple to clean, available in a wide variety of colors and don’t leave a metallic taste behind. These characteristics make reusable water bottles based on polymers the highest sales category.
The global polymer manufacturing industry however is facing drawbacks due to supply chain impacts and is somehow affecting the supply of polymer materials for the manufacturing reusable water bottles. According to Fact.MR, manufacturers may find overseas demand slumping through low export statistics due to worsening Covid-19 epidemic in other countries. Amongst regions, North America reigns supreme with a modest growth rate of 4% and captures a sizeable chunk of market share. Within North America, the utilization of polymer based reusable water bottles remains high.
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Following Questions Answers Covered in the Report are:
- How will the global Reusable Water Bottle Market perform during the forecast period? What will be the market size in terms of value and volume?
- Which segment will drive the global Reusable Water Bottle Market? Which regional market will show extensive growth in the future? What are the reasons?
- How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
- What are the key strategies adopted by players to sustain themselves in the global Reusable Water Bottle Market?
- How will these strategies influence the market growth and competition?
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
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The Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Reusable Water Bottle Market report answers the following queries:
- What is the largest share held by key players in the market?
- What strategies have proven most advantageous in the Reusable Water Bottle Market?
- Which region promises largest opportunity for new investors during the forecast period 2021 to 2031?
- What factors will most likely present challenges to growth during the forecast period?
- What will be the value of total revenues, and at what CAGR will the growth compound during the forecast period 2021 to 2031?
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