According to the study, the reusable water bottles market will envisage 3.1% y-o-y over 2017 to exceed US$ 8,347 million by the end of 2018. The study remains bullish on the continual rise in demand for reusable water bottles, as growing environmental concerns are driving consumers as well as end-use industrial sectors to switch to eco-friendly alternatives of single-use water bottles.
Concerns over alarming rise in plastic waste has initiated various movements aimed at curtailing its use. The ongoing war against plastic is exhorting consumers to shift away from single-use water bottles towards reusable water bottles. Increasing environmental awareness among consumers is likely to remain the fundamental driver for the growth of the reusable water bottles market.
A majority of leading players in the reusable water bottles market have adopted innovation strategies, which are commonly driven by the need to improve the consumer experience. Manufacturers in the reusable water bottles market are finding unique ways to introduce attractive and personalized reusable water bottles that can enhance the users’ experience, and ultimately, to expand their consumer base worldwide.
Although growing environmental concern are accelerating sales of reusable water bottles, their heavy weight, high cost, and maintenance requirements create major challenges for the growth of the market. In addition, some reusable water bottles can be infuriatingly difficult to clean, which is one of the leading factors to hamper the user experience, as well as sales of reusable water bottles.
Leading manufacturers in the reusable water bottles market are incorporating advanced technologies to improve the design of reusable water bottles, which allows users to unscrew and open them in order to clean them properly. Furthermore, manufacturers are discovering more innovative ways to offer more convenience to the users with enhanced design, shape, color, materials, and styles of reusable water bottles with the help of advanced technologies.
Stakeholders in the reusable water bottles market are focusing on making use of innovative types of raw materials to manufacture reusable water bottles that can meet dynamics end-user demands. Leading manufacturers in the reusable water bottles market are launching unique patterns, designs, and styles of various material types, such as metal, polymer, and glass.
According to the study, the demand and sales of polymer and metal reusable water bottles, together will account for the largest revenue share of more than 60% in the reusable water bottles market by 2018. The study finds that manufacturers in the reusable water bottles market are preferring to manufacture reusable water bottles using polymers or metal over glass.
The important findings of the study, which elucidate the reasons behind increasing use of metal and plastic in reusable water bottles, include
- Reusable water bottles manufactured using metal are more durable than those manufactured using glass and plastic. As metal does not leach any harmful chemicals into the water, unlike plastic, consumers are considering metal reusable water bottles more reliable.
- Metal and glass are costlier than plastic, which is why a majority of manufacturers in the reusable water bottles market are choosing plastic as a primary raw material. This also enables reusable water bottle manufacturers to reduce the production cost and maintain competitive prices.
- Using metal and plastic to manufacture reusable water bottles enables players in the reusable water bottles market to introduce light-weight reusable water bottles. On the contrary, glass is heavier and more fragile than plastic and metal, and thereby, it ranks much lower on preference for manufacturers as well as consumers.
- The availability of innovative designs, styles, and colors of metal and plastic water bottles is driving the leading trend in the reusable water bottles market.
While consumers are making a palpable shift towards reusable water bottles, their purchasing decisions depend on the convenience, price, and style of reusable water bottles.
The study provides thorough explanation on various factors that contribute to the development of the reusable water bottles market. It provides a comprehensive assessment on how the reusable water bottles market will grow during the assessment period 2018-2028. The study predicts that the reusable water bottles market will grow at a modest 3.5% value CAGR during the forecast period.
These insights are based on a report on Reusable Water Bottles Market by Fact.MR