Increase in the need for portable hydration options is expected to drive market expansion in the near future at a CAGR of 5.00% during the forecast period 2023 to 2032.
Market Research Future (MRFR) has published a cooked research report on the “Global Water Bottle Market” that contains information from 2018 to 2032. The water bottle market is estimated to register a CAGR of 5.00% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global water bottle market - Sigg Switzerland AG (Switzerland), Thermos L.L.C. (U.S.), Tupperware Brands Corporation (U.S.), Klean Kanteen (U.S.), CamelBak (U.S.), S'well (U.S.), Contigo Brands (U.S.), Aquasana, Inc. (U.S.), HYDAWAY (U.S.), and Thermo Fisher Scientific Inc. (U.S.).
The global water bottle market is accounted to register a CAGR of 5.00% during the forecast period and is estimated to reach USD 7.29 billion by 2032.
Consumers are increasingly preferring water as a healthier beverage option over sugary alternatives as they place a greater emphasis on their own well-being. Water bottles and other portable hydration options are in greater demand as a result of this trend. As individuals place a higher priority on their health and hydration requirements, the market reacts by offering a variety of bottle designs and features to appeal to the health-conscious consumer base, resulting in increased market demand. People need handy solutions to stay hydrated while on the go as modern lifestyles become more mobile. Water bottles offer a convenient & reachable way to satisfy this desire. Consumers prefer portable & reusable choices whether at work, in the gym, or during outdoor activities, which has increased market demand.
The global water bottle market has been segmented into product type, distribution channel, and material type.
On the basis of product type, the market is segmented into Insulated, Non-Insulated, Filter Water Bottle, Infuser Water Bottle and Others. The insulated segment was attributed to holding the largest market share in 2022. Drinks will keep hot or cold for hours in these vacuum-insulated bottles. Because they control temperature and have a durable shell, these bottles are a great choice for commuting, exercising, and traveling. These are widely used as great water bottles for the gym and are available in a range of styles, including sipper water bottles, sports water bottles, water bottles for the office, and sports bottles.
Based on distribution channel, the global water bottle market has been segmented into Online and Offline. The offline segment was expected to hold the largest market share in 2022. Water bottles are frequently seen during in-store shopping journeys because to the clever placement of water bottles in supermarkets, convenience stores, and specialized retailers for convenient access. The strength of in-person exposure, which allows customers to closely inspect water bottles, evaluate their design, quality, and size up close, and make informed purchasing decisions, is the natural advantage of these channels. Water bottles are made more visible and desirable in physical stores by retailers that use eye-catching displays and incentives to encourage impulsive buying.
On the basis of material type, the market is segmented into Plastic, Stainless Steel, Glass and Others. The plastic segment was attributed to holding the largest market share in 2022. Plastic water bottles are aesthetically pleasing, robust, frequently affordable, and lightweight. These can be produced at a lower cost than glass, aluminum, or steel, which greatly contributes to their widespread use and market share dominance.
The global water bottle market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe water bottle market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The water bottle market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World water bottle market comprises of Middle East, Africa, and Latin America.
The largest market share for water bottle was maintained by the North American regional sector due to the widespread use of stainless steel water bottles and the high rates of consumption of hot drinks like coffee and tea. The main factors propelling these regions' marketplaces are the water bottles' convenience and ease of mobility.
Moreover, the Europe market has been persistently growing over the forecast period. The main factor of the increased product demand are the growing popularity of healthy lifestyles and the widespread use of bottles for sports like hiking, trekking, and working out.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. The market for water bottles is expanding as a result of factors like changing lifestyles and increased urbanization. Additionally, those that favor a healthy way of life and take environmental sustainability into account favor reusable drinking water containers over disposable ones.
Furthermore, the rest of the world's water bottle market is divided into the Middle East, Africa, and Latin America. Rest of the world market is growing due to rising hygiene standards among the populace, increasing knowledge, economic progress, and other factors. The region's market is expanding mostly due to rising customer knowledge of the availability of such items.
Key Findings of the Study