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.
Albany, NY -- (SBWIRE) -- 02/06/2017 -- According to the latest market report published by Transparency Market Research titled "Global Market Study on Reusable Water Bottles Market: Polymer based reusable water bottle is expected to be the largest contributor in the global reusable water bottle market over the forecast period, primarily due to the adoption of "Tritan" material which is low cost polymer and BPA free." Globally, the revenue generated from sales of reusable water bottle market has been estimated to be valued over US$ 7.31 Bn by 2016 end, and is projected to increase at a CAGR of 4.2% during 2016-2024.
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Reusable water bottle market is considered as an extreme diversified market due to the wide availability of reusable water bottle in terms of size, shapes and design. The reusable water bottle is used for storage and safe transportation of water for hydration purpose, moreover, these reusable water bottles are available from different distribution channel such as supermarket / hypermarket, independent stores, online sales and other sales channel such as direct distribution, etc. One of the primary drivers for the growth of the reusable water bottle market is the eco-friendly properties and economical aspect in a long run of reusable water bottle, furthermore, additional features such as variety of dispensing options, carrying solution, infuser and filters are expected to increase the consumption of reusable water bottle.
Polymer based reusable water bottles is expected to be the largest material type segment in global reusable water bottle market due to its wide availability with differentiating features and low cost. Adding to material type segment, demand for metal based reusable water bottle is anticipated to increase due to its insulated material which keeps the water hot or cold for longer period of time. Moreover, the need for a feasible distribution network has driven the demand for online sales channel in a reusable water bottles market, whereas supermarket/hypermarket segment in the reusable water bottle market is expected to be the attractive distribution network as its provide a large variety of reusable water bottle physically. According to the primary usage, everyday segment is expected to witness the highest CAGR during the forecast period of 2016-2024.
Asia Pacific is expected to dominate the reusable water bottle market and expected to gain 210 BPS during the forecast period of 2016-2024, witnessing the highest CAGR of 5.0%, whereas Europe is expected to lose 150 BPS over the forecast period of 2016-2024. The consumption of reusable water bottle in Asia Pacific is expected to increase 1.4X during the period of 2016-2024. In terms of value and volume, North America is expected to be the third highest region after Europe during the forecast period of 2016-2024.
Global leaders in reusable water bottle include CAMELBAK PRODUCTS LLC, Klean Kanteen, Contigo, SIGG, AQUASANA INC, HYDAWAY, Bulletin Bottle, Thermos LLC, Thermo Fisher Scientific Inc. & Flaska d.d.