Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
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The demand for reusable water bottles market was estimated at USD 8.8 Bn in 2019. It is expected to witness a CAGR of 4.1% during the forecast period (2020-2028).
The adoption of healthy lifestyle by end-users has boosted the usage of eco-friendly products in various industries globally. Awareness about the harmful effects of non-reusable water bottles is spreading rapidly worldwide. Other benefits fueling the demand of reusable water bottles are its recyclability, non-reactivity and ease of maintenance. Thus, the popularity of reusable water bottles is rising. Furthermore, large firms are embracing the usage of reusable water bottles as a part of Corporate Social Responsibility initiative. Therefore, the rising adoption of reusable water bottles in corporate sector is believed to pave way for fresh revenue inflow in the reusable water bottle market.
Moreover, reusable water bottles are manufactured in various shapes, sizes and in a vast price range providing consumers the ease to make a desired choice. Various consumers have begun using bottles made up of copper and stainless steel as these are insulated, along with ease of cleaning operations. Furthermore, the stringent environment regulations have hampered the demand for single use water owing to its environmental hazard. This, in turn, is positively impacting the demand of reusable water bottles and is anticipated to fuel the demand for reusable water bottles during the forecast period.
Metal water bottles had accounted for a significant share of XX% in 2019 and are expected to remain dominant during the forecast period.
One of the major factors that drive the demand of metal water bottles is their rising consumption due to ease of use owing to their raw materials such as copper or stainless steel. These bottles are insulated, vacuumed and can contain liquids like water, juices, pulps, and other drinks hence are very convenient to travel with and multipurpose. The reusable water bottle are quiet costlier than conventional single use water bottles. However, their enhanced performance with minimal environmental hazard is driving the demand for metal water bottles across the globe.
Moreover, manufacturers are keen on developing metal bottles suited for particular activities like sports, work purpose, travel and other everyday use. Market is witnessing light weight metal bottles designed for the students and kids as they pose easy carriage on everyday basis. Manufacturers have contributed to the growing demand by innovating attractive bottles with metal straws, endearing shapes and appealing colors which stirs up buying desire among consumers.
By Distribution Channel, Online Stores are expected to witness high demand growing at a CAGR of 3.5% during forecast period.
Preferential shift towards buying products online owing to its convenience is driving the demand for online sale of reusable packaging.Other aspect triggering the growth of reusable water bottles in online stores is that customer gets abundant choices, slashed prices, easy return/exchange and delivery at their doorstep. Following the suit of developed nations, many developing nations are also going cashless which will further hype the growth of this market online during the forecast period.
Asia Pacific Had Dominated the Global Reusable Water Bottle and Is Expected To Remain Dominant during the Forecast Period
Asia Pacific region had accounted for a significant share of 34% in global reusable water bottles market. As India and China are highly populated countries, the demand of reusable water bottles is relatively high and also the coast of manufacturing is low in these nations. Manufacturing activities in these nations will draw new players to invest in this region and is expected to boost this market during the forecast period.
Middle East and Africa are also witnessing average growth owing to rising health awareness and increased disposable income. North America is expected to continue being an opportunist market followed by Latin America and Western Europe.
Competitive Landscape Analysis
Key players are expanding their product portfolio to augment the demand for reusable water bottles For instance water enhancer pods (flavorsome liquids) are introduced which are helpful for the customers who struggle to maintain their water intake. Juice based pods are also used enabling the consumers to reach their hydration goals. Manufacturers are targeting athletes and cyclists by seeking for opportunities in squeezable titanium water bottles. Thus, a lot of R&D is being carried out to in order to develop a blend of polymer and titanium to produce squeezable water bottles.
The leading vendors operating in global reusable water bottles market are BRITA GmbH, Tupperware Brands Corporation, Contigo, Aquasana Inc., SIGG Switzerland AG, Klean Kanteen Inc., Thermo Fisher Scientific inc., HYDAWAY, CamelBak Products LLC., Bulletin Bottle, Nalge Nunc International corp., Thermos, Chilly’s Bottles, Hydro Flask, Pacific Market International.
Kraft Paper Pouch Market Segmentation:
By Distribution Network:
- Online Stores
- Independent Stores
By Material Type:
- Glass Bottles
- Polymer Bottles
- Silicone Bottles
- Metal Bottles
- Battery Bottles
By End User:
- Foods industry
- Sport sector
- North America
- Latin America
- Asia Pacific
- Middle East and Africa