Reusable Water Bottles Market to Grow at a Steady CAGR of 3.6% | Know the Top Growth Factors

We all know that the environment is degrading more by the day, and to save it from getting worse, it is highly necessary that consumers need to utilize specific goods in certain forms. Using reusable water bottles is one such way that can significantly contribute towards reducing harmful effects caused to the environment, specifically due to excessive garbage dumping.

Rising awareness among the masses to use reusable water bottles for reducing plastic utilization is primarily driving the global reusable water bottles market. Benefits such as portability and increased availability of these bottles is also making the market pick up pace gradually.

The global reusable bottles market had gained a revenue of US$7.6 bn in 2016, which is further expected to reach at least US$10.4 bn by the end of 2025. This growth is projected to occur at a slow yet steady CAGR of 3.6% during the forecast period ranging from 2017 and 2025.

AQUASANA Inc., Nathan Sports Inc., Cool Gear International LLC, Tupperware Brands Corporation, Contigo, Bulletin Bottle, Thermos LLC, Klean Kanteen Inc., O2COOL LLC, CAMELBAK PRODUCTS LLC, Nalge Nunc International Corp., SIGG Switzerland AG, Brita GmbH, and S’Well Corporation, are key players operating in the global reusable water bottles market.

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Major Challenges

• High costs required to set up systems for producing reusable water bottles, as well difficulties faced while raising funds that are needed for carrying out expensive research and development activities are prime factors greatly hampering the market.
• Many regions might depict a lack of trained professionals and a shortage of equipment that is required to procure recycled material and use it to make the bottles.
• In several economies, authorities do not given much attention to the use of recycled and reusable commodities such as bottles. This has led to the presence of less awareness among the public, thus posing as prime obstacles present against the global reusable water bottles market’s growth.

Nevertheless, the picture is soon expected to change as numerous companies are gradually introducing cost-effective methodologies and processes to manufacture reusable water bottles, which could offset most of the restraints.

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Most Players are Focusing on Increasing Awareness among Consumers

The global reusable water bottles market mainly depicts the presence of a highly fragmented and competitive vendor landscape. This is majorly due to innumerable players operating in the field. With new companies entering the market on a regular basis, the competition is expected to increase dramatically during the upcoming years.

• Bringing about extensive innovations in reusable bottle manufacturing processes, and striving towards increasing awareness among masses regarding benefits of using these bottles are prime strategies implemented by businesses working in the global reusable water bottles market
• Many companies are developing advanced and cost effective techniques of producing reusable bottles, so that they can efficiently function while causing least harm to the environment.
• Such businesses are also receiving tremendous support from most governments all over the globe. This support mainly exists mainly in terms of extensive funding provided by the relevant authorities, which is required for carrying out extensive research and enhancing manufacturing technology.

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